It was previously reported that the unnamed platform will be aimed at users in emerging markets where leading streaming services have not yet scaled, but today's FT article adds that it will be launched in the likes of India and Indonesia initially, with a rollout in the the U.S. planned further down the line. The new music streaming service is set to be launched in emerging markets like Brasil, India, and Indonesia.
The music streaming app would also include a library of short video clips that users can synch to songs and then share with friends.
TikTok owner ByteDance, the Beijing-based behemoth that answers to no man (or at least USA senator) is reportedly crafting plans to fulfil its destiny - its foray into the subscription music business.
ByteDance will be cut-out in its work as it tries to gain a foothold in what is already a highly competitive market.
ByteDance is said to still be in talks with Sony, Universal and Warner to license their music catalogs for the service.
The Committee on Foreign Investment in the United States has started to review ByteDance's US$1 billion (RM4.1 billion) acquisition of the U.S. app Musical.ly, which was subsequently merged into TikTok, Reuters reported this month.
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The Open Doors report is published annually by the Institute of International Education in partnership with the U.S. On the other hand, European countries have been the popular choice for US students studying overseas .
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Zhu heads viral short video app TikTok, the most recent Chinese-owned target of scrutiny by United States lawmakers.
The move comes as investors have been anxiously waiting for a way to make more money from TikTok, which is free to download and use. We'll have to take his word for it.
There are also some estimates for individual countries' TikTok downloads: 466.8m in India (around 31% of all installs, and 45% of those in 2019) followed by 173.2m in China.
Launched just two years ago, TikTok has been downloaded 1.5 billion times, making it the third most downloaded non-gaming app of the year, after of Facebook's WhatsApp and Messenger apps, according to research firm SensorTower.