TikTok owner ByteDance is preparing to launch a music streaming service, in talks with music labels: Report

TikTok owner Beijing ByteDance Technology Co Ltd is in talks with big music labels — Universal Music, Sony Music and Warner Music — for global licensing deals to include their songs on its new music subscription service, the Financial Times reported on Sunday.

ByteDance is looking to launch its music streaming as soon as next month, initially in emerging markets such as India, Indonesia and Brazil, before a future opening in the United States, the Financial Times reported , citing people familiar with the matter.