Earlier this month, TikTok’s parent company ByteDance launched its first smartphone in China. The handset comes with 8GB RAM, 6.39-inch AMOLED display, Snapdragon 855 Plus SoC, quad rear camera setup and more. Now, ByteDance is reportedly planning to launch a music streaming service by next month. The company is in talks with Universal Music, Sony Music, and Warner Music – for global licensing deals.

TikTok’s owner wants them to include their songs on ByteDance’s upcoming music subscription service. This information was first reported by the Financial Times. The company is reportedly planning to launch its music streaming service in emerging markets like India, Indonesia, and Brazil, before a future opening in the US.

In addition to on-demand music, the upcoming music app will include a “library of short video clips for listeners to search through and sync to songs as they listen,” Reuters reported. Further, TikTok’s parent company is yet to give a name to its music app. The pricing details of the same also currently under wraps. If the rumors are to be believed, the subscription cost might be less than the $10 (approximately Rs 700) a month charged by Spotify, Apple, and others in the US.

The Apple Music subscription price in India starts from Rs 99 on a monthly basis for individuals. The family plan is priced at Rs 149 per month. There is also a discounted plan for students, which is priced at Rs 49 per month. Spotify’s Premium annual plan costs Rs 1,189. The monthly price for the music streaming service is Rs 119. Other plans include a one day plan for Rs 13, a seven-day plan for Rs 39, and a three-month plan for Rs 389. There is also a six-month plan worth Rs 719.

Separately, TikTok now has over 1.5 billion downloads worldwide on the App Store and Google Play Store. Breaking down the TikTok download numbers, India leads the chart with 466.8 million. It also represents about 31 percent of all unique installs. In 2019, TikTok downloads crossed 614 million – six percent more than the previous year. These numbers are courtesy of mobile intelligence firm Sensor Tower.