Shulou(Shulou.com)11/24 Report--

Beijing, Oct. 13 (Xinhua) Byte Jump has begun negotiations with record companies to expand its streaming music services globally in order to compete with industry leaders such as Spotify, according to people familiar with the matter.

There are still major obstacles to the negotiations, but Byte Jump hopes to eventually integrate its music service into TikTok and become a major platform for distributing music around the world, according to a person familiar with the byte-beat music service Resso. Byte Jump has discussed the launch of its Resso music streaming service in more than a dozen other markets in recent months, which is currently available only in India, Indonesia and Brazil. The United States is not part of the next phase of Resso's expansion, but Byte Jump has said it hopes the service will be available globally so that users can find songs on their short video apps and easily subscribe to music.

Negotiations sometimes get tense because of disagreements over how to assess the promotional benefits of TikTok for record companies, according to people familiar with the matter. Driven by the growth of the streaming media market and the establishment of standard music licensing rates, the music market has been developing rapidly in recent years. Byte beats are not available for comment. Spotify shares gave up their gains in after-hours trading, almost in line with the close. Warner Music Group shares rose 4%.

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