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ByteDance to launch its own music streaming service

TikTok’s owner ByteDance plans to launch a music streaming app to take-on its rivals.

The Chinese Internet technology company ByteDance is planning to take on its rivals by launching its own music streaming service. ByteDance is known for its infamous social media video app TikTok.

ByteDance first released a statement about its plans on setting up a music streaming app in May of this year. Now, ByteDance is keen on launching the music streaming app as soon as next month.

It was also reported that the Chinese company is in talks with some of the world’s largest record companies like Sony Music, Universal Music and Warner Music for a global licensing agreement.

According to ByteDance, it will start launching its music streaming app in its emerging markets like Brazil, India and Indonesia.

ByteDance aims to compete head-to-head with its rivals, including Spotify, by launching music streaming app itself. But it also wants to differentiate this app with any other app by focusing on the user-generated content.

In addition to its music, the new music streaming app will also include a library of short video clips for listeners. This feature is for searching through and synching it to songs as they listen.

ByteDance has not yet revealed the name and the initial price of the app.