The latest indication of time scale for the subscription service's launch was reported by the Financial Times yesterday (November 17), which, citing people familiar with the matter, states that the Chinese company is now negotiating global licenses with Universal Music, Sony Music and Warner Music.
The music streaming app would also include a library of short video clips that users can synch to songs and then share with friends.
ByteDance's music streaming app will make its way to India, Indonesia and Brazil before entering the United States, according to this report. This could be an indication that the music listening app could also bring some of the TikTok features to the table, allowing users to record lip-sync videos. Instead, TikTok is hugely popular stateside, so naturally, ByteDance's intention to branch out into the thriving music streaming industry is being welcomed with open arms by profit-hungry executives at major Western labels like Universal, Sony, and Warner Music.
There's no further word on the subject at this point, so we don't know either the name of the app or the subscription plans, but it won't be a stretch to believe that the pricing will be at least on par with that of Apple Music and Spotify, both of which cost less that $10 per month in the USA, and even lower in India.
The world's top two music streaming services have seen their market dominance challenged by many platforms from many different companies in recent years, ranging from Google's Play Music and YouTube Music to Tidal, Deezer, Pandora, and perhaps most notably, Amazon Music Unlimited.