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TikTok Maker Set To Take on Spotify With Free New Music Streaming App

Tuesday May 21, 2019. 08:00 PM , from Slashdot/Apple
Does the overcrowded and cut-throat music streaming business have room for an additional player? The world's most valuable startup certainly thinks so. From a report: Chinese conglomerate ByteDance, valued at more than $75 billion, is working on a music streaming service, two sources familiar with the matter told TechCrunch. The company, which operates popular app TikTok, has held discussions with music labels in recent months to launch the app as soon as the end of this quarter, one of the sources said. The app will offer both a premium and an ad-supported free tier, one of the sources said. Bloomberg, which first wrote about the premium app, reported that ByteDance is targeting emerging markets with its new music app. Further reading: Chinese Video Sensation TikTok Surpassed Facebook, Instagram, Snapchat and YouTube in Downloads in October 2018.

Read more of this story at Slashdot.
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