According to Reuters, Chinese company ByteDance, which owns the popular short video platform and music service Resso, intends to combine their capabilities. This will allow it to compete with Spotify in the global market.
ByteDance is reportedly already in talks with major record labels to expand its own music catalog. The company plans to integrate music streaming into its TikTok short video service and scale it to become a popular audio streaming platform around the world, says 4PDA.
The Resso music service is currently only available in a small number of regions, including India, Indonesia and Brazil. However, ByteDance plans to increase its presence in the markets of different countries of the world with the subsequent integration of the service with TikTok, notes NIX Solutions. Official representatives of ByteDance have not yet commented on the publication of the publication.