TikTok recently launched a new rival to music-streaming giants Spotify and Apple Music, as the popular short video app seeks new avenues for growth.

TikTok Music said on Wednesday that it will be testing its service in Australia, Mexico and Singapore. That announcement comes shortly after it launched in Indonesia and Brazil earlier this month.

Last week, TikTok also announced an expanded licensing agreement with Warner Music Group, as it looks to grow its music content library. Parent company ByteDance also recently scrapped the free tier of Resso, another music-streaming service it owns.

While these efforts are in their early days, analysts said TikTok has key advantages that other music-streaming entrants do not possess and that could help it seize market share.

“There’s already this large installed base of users which TikTok can convert into paying TikTok Music subscribers – with a relatively low customer acquisition cost,” said Jonathan Woo, senior research analyst at Phillip Securities Research.

According to DataReportal, Indonesia and Brazil are TikTok’s second- and third-largest markets, behind only the U.S., with 113 million and 84.1 million active TikTok users aged 18 years and above, respectively. Meanwhile, Mexico is TikTok’s fourth-largest market with 62.4 million TikTok users.“TikTok Music will make it easy for [users] to save, download and share their favorite viral tracks from TikTok,” Ole Obermann, global head of music business development for TikTok, said during the Indonesia and Brazil launch.

TikTok is the second-most common source of music discovery for 16 to 19 year olds, behind YouTube, according to data from MIDiA Research shared with CNBC. MiDIA Research is a U.K.-based research firm covering entertainment and media.In MiDIA’s fourth-quarter consumer survey, 48% of respondents said YouTube is among their main places for discovering music, while 41% pointed to TikTok. The survey fielded 9,000 respondents across the U.S., U.K., Australia, Canada, Germany, France, Sweden, South Korea and Brazil.

“A lot of times people hear lots of different songs on TikTok, but they don’t make the jump to actually listen to it elsewhere or learn more about the artist,” said Tatiana Cirisano, music analyst at MiDIA Research.

“The powerful potential for TikTok Music is that it could close that gap,” said Cirisano.