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The company behind TikTok is reportedly launching a Spotify rival

The company behind TikTok is reportedly launching a Spotify rival

ByteDance , the owner of the Vine-like social media app TikTok , might challenge Spotify with a paid streaming service in emerging markets, according to Bloomberg . It could introduce an app (not named after TikTok), in several non-first-world countries where Spotify, Apple Music and other music streaming services have yet to take hold. As for content, it has reportedly secured music rights from several of India's biggest labels, including Times Music and T-Series.