TikTok parent ByteDance is looking to compete with Spotify as it is talking to music labels to expand its music service globally, per the Wall Street Journal.
The China-based company is planning to add music-streaming within its short-video platform and distribute it worldwide, a move that would ensure the users stay within the company’s ecosystem.
Apple Music and YouTube are also in the music streaming business and compete with Spotify for users. Even Youtube has started showing interest in short-form video content that appeals to the younger audience.
Resso
ByteDance has been planning to launch Resso, its music-streaming app, in a dozen other countries. The app is currently available only in Brazil, India and Indonesia.
The company is also looking at ways to expand Resso’s market and reach, and to that effect is working on plans to integrate it into TikTok. Such a move would make it easier for artists on the short-form video app to earn more money via streaming.