TikTok owner has fresh plans to launch new music streaming app in India to compete with Spotify, YouTube Music among others

Recent ban on TikTok has t frazzled its owner ByteDance as world's most valuable startup is w gearing up to launch a new music streaming app, according to reports. China's ByteDance has mand to secure rights from two of India's largest music labels, T-Series and Times Music, Bloomberg reports.

ByteDance is likely to introduce its music streaming service in emerging markets like India where Music Streaming is still in its nascent st and harder for streaming companies to get subscribers unlike or markets. Recently, Spotify entered Indian market and so far, it has stacked up more than a million users in country (including both free and paid).

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As a result, we can soon expect India's growing music streaming segment to welcome a new player from ByteDance. app is most likely to compete with or apps like JioSaavn, Gaana, Amazon Prime Music among ors. Recently, YouTube anunced its standalone YouTube Music app in India, letting premium users switch to audio-only songs and downlo songs for offline access. Furrmore, Airtel users get complimentary access to its Wynk Music subscription.

It will be interesting to see how ByteDance's music streaming app performs in Indian market and competes with or similar apps in country. So far, ByteDance has been fairly successful in establishing its authority in user-generated, short videos segment in form of TikTok. In fact, TikTok was also most downloed free app in India in first quarter of year. TikTok has seen its share of popularity and controversy in country. 

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As per Bloomberg report, ByteDance will try to convert some of TikTok's audience into paying customers and boost audience engment of both apps. However, ByteDance's music streaming app is said to have its own identity and app is unlikely to bear TikTok moniker. Bytedance declined to comment.

ByteDance's upcoming music streaming app may include a catalogue of songs available on-demand, in dition to video. ByteDance reportedly has plans for a paid service. However, more details such as timing of its release or rights deals are awaited. ByteDance is valued at more than $75 billion in its most recent round of fundraising.