ByteDance talks to major record companies such as Universal, Sony and Warner to obtain licenses for its own music streaming service. The Financial Times writes this on the basis of insiders.

With the service, ByteDance would like to compete directly with Spotify and Apple Music. The maker of TikTok - a very popular video service for mainly young people - would like to release his music app in "emerging countries" next month.

This includes, for example, India, Indonesia and Brazil. Later, the music service would only be released in other countries, such as the United States, say sources of the newspaper.

ByteDance also wants to offer a library of short video clips to listeners in the service. Subscribers can browse through it and synchronize the clips with the songs they listen to. Those videos can then be shared. What that should look like exactly is unclear.

A name and price for the service are not yet known. The app is expected to be cheaper than Spotify.

TikTok used to be known as Musical.ly and for the most part consists of playback videos from users. According to ByteDance, the app has a billion users worldwide.