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The TikTok parent plans to eventually integrate
music streaming within its short-video service and scale it to
serve as a major platform for distributing music globally,
according to the report that cited people with knowledge of the
discussions.
Shares of Spotify pared gains to trade flat in after-market
trading on Wednesday, while Warner Music Group Corp gained 4%.
ByteDance did not immediately respond to a Reuters request for
comment.
The company had discussed in recent months launching its Resso
music-streaming service, currently available in India, Indonesia
and Brazil, in more than a dozen additional markets, but
expansion to the United States isn't immediately on the cards,
according to the report.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Vinay
Dwivedi)
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