TikTok parent company ByteDance considers music streaming expansion

[Y2kTheNewOldies]

ByteDance plans music-streaming expansion to take on Spotify - WSJ

China's ByteDance Ltd is in talks with music labels for expanding its music-streaming service globally to compete with industry leaders such as Spotify Technology SA , the Wall Street Journal reported on Wednesday.

www.reuters.com

Note this is in the planning stages. Some of the articles indicated that this is a negotiating ploy to go after Spotify and get a deal with the labels.

Oct 12 (Reuters) - China's ByteDance Ltd is in talks with music labels for expanding its music-streaming service globally to compete with industry leaders such as Spotify Technology SA (SPOT.N), the Wall Street Journal reported on Wednesday.

The TikTok parent plans to eventually integrate music streaming within its short-video service and scale it to serve as a major platform for distributing music globally, according to the report that cited people with knowledge of the discussions.

TikTok Owner ByteDance Looks to Expand Music-Streaming Service Into Multiple Markets

TikTok parent ByteDance is in talks with labels about expanding its music-streaming service into more than a dozen markets, placing it in direct competition with Spotify and Apple Music.

variety.com

Note this ploy is to also expand the Resso service. Median demos are a factor here for the investment group that holds the rights to TikTok.

TikTok parent ByteDance has begun talks with music labels about expanding its music-streaming service into more than a dozen markets in a move that would place it in direct competition with Spotify, Apple Music and other major streaming services, according to the Wall Street Journal.

According to the report, the initial plan is to expand the company’s Resso service, which is currently only available in India, Indonesia and Brazil, into more than a dozen markets, although the U.S. is not said to be part of the next phase of expansion.

The Journal’s sources say significant hurdles remain in the negotiations, but ByteDance wants the service to eventually be integrated within TikTok and to serve as a major platform for distributing music around the world.