At various times over the past year, it appeared that TikTok and its parent company ByteDance were slowly morphing into something that resembled a record label.

We made this observation a few months after TikTok publicly launched its ‘SoundOn’ marketing and distribution service, and once again following our discovery that ByteDance was hiring for label-style A&R roles.

SoundCloud to lay off 20 per cent of global workforce in “prudent financial decision”

https://musictech.com/news/industry/soundcloud-lay-off-20-global-workforce-economy-warner-music-finance/