TIKTOK PARENT BYTEDANCE IS TRIALING A SPOTIFY RIVAL CALLED RESSO IN INDONESIA & INDIA (REPORT)
TikTok parent company ByteDance has been trialing a music app called Resso in India and Indonesia for the past six months. As first reported by Bloomberg – citing data compiled by Sensor Tower – the app has seen 27,000 installs across iOS and Android so far. Bloomberg also reports that ByteDance, founded by software engineer Zhang Yiming in 2012 and valued at around $75 billion, ‘has quietly been testing the app’ in the two emerging markets with plans to take on Spotify and Apple Music in territories where they have not yet scaled. ByteDance’s intention to launch a paid music streaming service first came to light in April, with Bloomberg writing at the time that the company had secured rights from the likes of T-Series and Times Music, but was yet to do the same with the three majors. Last month, it was reported that the Chinese company is currently negotiating global licenses with Universal Music, Sony Music and Warner Music. Bloomberg’s article today states that these...