Additional sources are confirming that ByteDance, the company that owns TikTok, is in the process of developing a paid music streaming service, according to Bloomberg. There was talk of ByteDance developing such a music streaming app back in early April. At the time, sources told the South China Morning Post that the company planned to launch the service “soon” and that over 100 people were working on it.
ByteDance’s service is rumored to launch this fall with a focus on emerging markets. Exact territories aren’t named, but Bloomberg says the company will target “mostly poorer countries where paid music services have yet to garner large audiences.”
There isn’t much information about the app yet, except that it will offer a catalog of...
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