ByteDance Plans Spotify Competitor, TikTok Integration Planned: Report

China’s ByteDance is in talks with music labels for increasing its music-streaming service globally to compete with trade leaders comparable to Spotify, the Wall Street Journal reported on Wednesday. The TikTok mum or dad plans to finally combine music streaming inside its short-video service and scale it to function a significant platform for distributing music globally, in accordance with the report that cited folks with information of the discussions.

Shares of Spotify pared beneficial properties to commerce flat in after-market buying and selling on Wednesday, whereas Warner Music Group gained 4 p.c.

ByteDance didn’t instantly reply to a Reuters request for remark.

The firm had mentioned in current months launching its Resso music-streaming service, at present accessible in India, Indonesia and Brazil, in additional than a dozen extra markets, however enlargement to the US is not instantly on the playing cards, in accordance with the report.

Last week, Reuters reported that audio streaming service Spotify had acquired Kinzen, a agency that has helped it determine dangerous content material on the platform.

The acquisition is a part of Spotify’s efforts to take care of dangerous content material on its service after a backlash earlier this yr over “The Joe Rogan Experience”, by which the podcaster was accused of spreading misinformation about COVID-19.

The Dublin-based agency has been working with Spotify since 2020, initially specializing in the integrity of election-related content material all over the world. Since then, Kinzen’s remit has expanded to incorporate concentrating on misinformation, disinformation and hate speech.

Earlier this yr, Spotify mentioned it could be extra clear in the way it determines what is suitable and unacceptable content material. It printed its platform guidelines for the primary time in January. In June, it fashioned a Safety Advisory Council to supply enter on dangerous content material.