TIKTOK PARENT BYTEDANCE LAUNCHES SPOTIFY RIVAL RESSO IN INDIA… WITHOUT UNIVERSAL’S CATALOG
Resso, the music streaming app owned by TikTok parent Bytedance, has today (March 4) publicly launched in India, taking on the likes of SPOT, plus Gaana, JioSaavn and Apple Music in the market. Resso reportedly launches in India with a split price offering: there’s a free-to-use tier which offers music streaming at 128kbps, while a paid tier is available for Rs 99 ($1.35) per month on Android and Rs 119 ($1.62) per month on iOS. Both paid options offer streaming up to 256kbps with no advertising. The launch of Resso in India has been licensed by the likes of Sony Music Entertainment, Warner Music Group, Beggars Group and Merlin, as well as large local India-based rightsholders such as T-Series, Saregama, Zee Music, Times Music and Tips. Notice a company name missing there? Yup: Universal Music Group. As TechCrunch points out, UMG is set to sell 10% of its business (possibly up to 20% over the course of time) to Tencent Holdings Ltd, following the ...