Beijing Byte Dance Telecommunications Co. Ltd.-owned video app TikTok is considering plans to launch a curated feed of selected content from TikTok creators to attract advertisers, London's Financial Times reported, citing people familiar with the matter.
With a curated feed, TikTok could seek higher advertising rates from more premium brands. Executives have also been pitching to American and European brands in efforts to monetize the platform. Additionally, the company has been recruiting from rivals, including Facebook Inc. and Snap Inc., and developing tools for advertisers.
A person familiar with the matter, meanwhile, said that TikTok had not committed to a deadline yet, and talks are at an early stage.
Reports of ByteDance's plans to launch its own music subscription service had circulated in late 2019. The move could help the company better compete with music sharing platforms Spotify Technology SA and Apple Inc.'s Apple Music service.