Rumor: owner TikTok will release its own music streaming service this fall

The owner of TikTok, the Chinese ByteDance, would like to start its own music streaming service this fall. This is primarily happening in poorer countries, according to financial news agency Bloomberg.

ByteDance has already signed deals with several record labels in India, Bloomberg reports. There are no deals yet with the major record labels in Western countries, such as Sony, Universal and Warner. The music service should be released in the first countries this fall. These are countries where other music services such as Spotify, Deezer and Apple Music still have relatively few users.

The streaming service will not be included in TikTok, but the owner will want to use TikTok to quickly recruit many users for its service. TikTok is a social network where users share music videos that they playback. That indicates that many users are interested in listening to music.

The company is already showing the app behind closed doors, which means that the music service will probably be ready for release in the foreseeable future. ByteDance has not confirmed the arrival of the music streaming service. TikTok was first called Musically, but got a different name after the Chinese ByteDance took over the app. The app has been downloaded more than a billion times.