ByteDance launches new music streaming service in Brazil, Indonesia

SAO PAULO (Reuters) - Chinese company ByteDance, which owns short-video company TikTok, on Thursday said it will launch a new music streaming service in Brazil and Indonesia, as it tries to become a player in that market.

The initiative is a new attempt by ByteDance, as the company in a statement said it will stop its existing music streaming service Resso as of Sept. 5 in both countries.

Resso will maintain its operations only in India, the company added.

Media reports late last year said ByteDance was planning an expansion into more countries of its music streaming service, a market currently led by companies like Spotify.

TikTok Music will have three monthly plans in Brazil that will cost between 8.5 reais ($1.73) and 26.9 reais, data on its website showed, slightly below the service price Spotify offers.

($1 = 4.9218 reais)

(Reporting by Andre Romani; Writing by Carolina Pulice; Editing by Mark Porter)