TikTok owner ByteDance reportedly plans to launch Spotify rival

ByteDance, the company behind the hugely popular TikTok app, is reportedly preparing to launch a streaming music service.

According to anonymous sources who talked to Bloomberg, ByteDance’s music streaming app would be a paid subscription service akin to Spotify and Apple Music. However, instead of a wide rollout, the China-based tech company would focus on launching in “emerging markets” in the fall. 

With about 217 million monthly worldwide and 100 million paid subscribers, Spotify...

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