According to reports, the popular mobile app TikTok’s parent company ByteDance is rumored to release its own music streaming service to compete with Spotify and Apple Music.

The company is allegedly in contact with several big record companies and plan to launch the platform “as soon as next month”.
The app will first launch in markets such as India before arriving in the US, having already amassed over one billion monthly active users and 1.5 billion downloads, stated in a recent report.