The Chinese company behind the popular video app TikTok is set to go head-to-head with the likes of Spotify and Apple in the music streaming market with the launch of its own rival service.
ByteDance is in talks with the world’s largest record companies — Universal Music, Sony Music and Warner Music — for global licensing deals to include their songs on its new music subscription service, according to people familiar with the matter.
The Beijing-based technology company aims to launch as soon as next month, initially in emerging markets such as India, Indonesia and Brazil, before a future opening in the US, according to people briefed on the plans.
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