Bloomberg: TikTok’s Parent Company Plans To Launch Music Platform
Bloomberg posted that ByteDance, a parent company of Chinese viral video platform TikTok, plans to develop a paid music streaming platform. There were some rumours that ByteDance had already developed it back in April since Chinese famous news outlet, South China Morning News, posted a few details on this. It said that about 100 developers were working on it and that it would go live soon. Bloomberg didn't mention the exact days and territories where the streaming service would work. However, it said that the company would target “mostly poorer countries where paid music services have yet to garner large audiences.” The app will include catalog of songs and videos, yet it will not copy the interface of Apple Music or Spotify.
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