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-0.000805282654211659 -0.00108713158318578 0.00115423847103669 0.00185215010468674 0.0112068502711119 0.0161059215117839 0.0188838782412626 0.0205212863048263
Stock impact report

TikTok to Shut Down its Music Streaming Business in November [Yahoo! Finance Canada]

Spotify Technology S.A. Ordinary Shares (SPOT) 
Last spotify technology s.a. ordinary shares earnings: 4/29 06:00 am Check Earnings Report
Most Read from Bloomberg TikTok Music will go offline on Nov. 28 and customer data will be deleted, the music division said in a post on its website. Users were told to transfer playlists to other services no later than Oct. 28. Instead of competing with music streaming services, TikTok will drive users to them via its “Add To Music App” feature, the company said in a statement on Tuesday. The feature, which was introduced last year, lets users save tracks they like on TikTok to playlists on partner services such as Spotify, Apple Music and Amazon. ByteDance Ltd., TikTok's owner, created the music service to capitalize on the app's power and popularity with music fans. TikTok videos have been credited with the rise of hit songs and new artists, and have led to clashes with record labels which have demanded higher payments for using their clips. Earlier this year, Universal Music Group NV had a months-long standoff that saw performers including Drake and Rihanna pulled from th Show less Read more
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