TikTok has responded to reports that owner ByteDance will move its headquarters to London from the US.
The Chinese internet giant is set to announce their intention to establish a global HQ for TikTok in London soon, according to reports.
TikTok already has a UK operation and has seen rapid growth for the short form video platform, which has been embraced by artists and labels.
A spokesperson said: “ByteDance is committed to being a global company. In light of the current situation, ByteDance has been evaluating the possibility of establishing TikTok's headquarters outside of the US, to better serve our global users."
The report on Bytedance's plans follows comments by President Trump suggesting that he could ban TikTok in the US over security concerns.
Microsoft Corp said that it would continue discussions to acquire TikTok’s operations in the US, Canada, Australia and New Zealand from ByteDance, and that it was aiming to conclude the negotiations by September 15.
In the latest issue of Music Week, PRS For Music CEO Andrea C Martin talks about the importance of a licensing deal between ICE and TikTok in order to bring in revenue for members.
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