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TikTok, owner ByteDance plans to launch a music-streaming: FT.

A person has a smart phone, Tap Current logo is shown in the image, as shown in figure 7 to November 2019. REUTERS/dado Ruvic/Illustration

(Reuters) – the TikTok’s owner, Beijing ByteDance Technology Co., Ltd, is in talks with major music labels – Universal Music, Sony Music and Warner Music for global licensing agreements in order to put their songs on a new music subscription service, the Financial Times reported on Sunday.

ByteDance is on the lookout for the launch of its music streaming as soon as next month, in the first instance, in the emerging markets, such as India, malaysia, Indonesia, and Brazil, prior to the future opening up in the United States of america, the FT reported, citing people familiar with the matter.

In addition to the on-demand movies, music, ByteDance, the app includes a library of short video clips for the audience to find it and sync it with the songs when they listen to it, the report added.

ByteDance has been given a name in the music app, and pricing is still unclear, although it is expected to cost less than $10 per month charged by Spotify Technologies SA, Apple Inc, and others from across the United States, according to the report.

The company was not immediately available for comment on Sunday.

Reporting by Anurag Maan in Bengaluru; Editing by Peter Cooney

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