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(Pocket-lint) - TikTok's parent company ByteDance is reportedly in discussion with the big music labels, looking to secure licensing deals for its own music streaming service, according to a report from the Financial Times.

The service is said to be targeted at markets where music streaming is not yet well established, with the suggestion that India, Indonesia and Brazil will be in the company's sights, rather than going straight after European or US markets, where Spotify, Apple Music and others dominate.

This isn't the first that we've heard about ByteDance's plans for a music streaming service. In May 2019 a similar report told us that licensing deals had already been struck with several of India's biggest labels - and this latest update suggests that the service could launch as soon as next month.

TikTok is best known for its social media platform, and having absorbed Musical.ly, it's popular as a video creation platform, especially for those synching along to music. 

It's not known what the new service will be called, but lining up with TikTok would mean that the 500 million reported users of the platform would know exactly what to expect and there's the suggestion that you'll be able access video clips in the new service to synch along with.

Reuters suggests that the price is likely to be set to undercut existing services - but we can easily see how a music streaming service could be bolted only TikTok for a small additional fee.

Writing by Chris Hall. Originally published on 18 November 2019.