ByteDance’s Plans Spotify Rival, Music Streaming Will Be Integrated in TikTok: Report

China’s ByteDance is in talks with music labels to expand its music streaming service globally to compete with industry leaders like Spotify, the Wall Street Journal reported on Wednesday. TikTok’s parent company plans to eventually integrate music streaming in its short video service and scale it up into a major platform for music distribution globally, according to the report. lead knowledgeable people on the discussion.

Shares of Spotify increase rates for stable trading in Wednesday’s after-market trading, while Warner Music Group up 4 percent.

ByteDance did not immediately respond to Reuters’ request for comment.

In recent months, the company has discussed launching Resso music streaming service, now available in India, southern Ocean and Brazilin more than a dozen additional markets, but expanding to WE not on the card immediately, according to report.

Last week, Reuters report the audio streaming service that Spotify acquired Kinzena company that helped them identify harmful content on the platform.

The acquisition is part of Spotify’s effort to tackle harmful content on its service following a backlash earlier this year over the “Joe Rogan Experience,” in which the podcaster allegedly spread information misinformation about COVID-19.

The Dublin-based company has partnered with Spotify since 2020, initially focusing on the integrity of election-related content around the world. Since then, Kinzen’s obscurity has expanded to include targeting misinformation, misinformation, and hate speech.

Earlier this year, Spotify said it would be more transparent in how it determines what is acceptable and unacceptable content. It published its ground rules for the first time in January. In June, it established a Safety Advisory Council to provide input on harmful content.

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