Spotify stock (SPOT) erased gains on Wednesday after a new report from The Wall Street Journal revealed that TikTok parent company ByteDance has begun talks with music labels to expand its music-streaming service, dubbed Resso.
According to the report, ByteDance wants to eventually integrate the service with social media juggernaut TikTok — a platform known for discovering new music and making songs go viral — as the company looks to expand the offering into more global markets….
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