TikTok parent ByteDance said in part earlier, on its Brazil blog site: “ByteDance announces the launch of TikTok Music, a subscription-only music streaming service, in Brazil and Indonesia. This new social music streaming service will leverage TikTok’s music discovery process, which is already famous for boosting artists and creating hits, helping users to enjoy their favorite viral songs, offering the ability to listen, download and share the tracks with their communities, as well as a smooth transition from TikTok to TikTok Music.” Publicly traded companies that may be impacted by this news include Spotify (SPOT) and Apple (AAPL).
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SPOT:
- Spotify price target raised to $185 from $165 at BofA
- Apple argues against EU antitrust charges in Spotify probe, Bloomberg says
- Spotify price target raised to $170 from $154 at Truist
- Spotify Scores Key Analyst Upgrade with New Subscription Tier On the Anvil
- Wolfe assumes Spotify at Outperform, cites top-line acceleration