Makers of TikTok to Launch Music Streaming App to Rival Spotify
ByteDance is launching its won music streaming app Resso in India and the beta version on available for download.
As music consumption in India undergoes a gradual evolution, China-based Bytedance, which has tasted success with its short video-making app TikTok among the youth in the country, is now ready to take on players like Spotify, Gaana, Wynk, Apple Music and others with Resso.
Available in Beta and currently being tested in India and Indonesia, the music streaming service Resso has been downloaded by nearly 100,000 times, according to data from app analytics firm Sensor Tower.
The app has been developed by Moon Video Inc. and has reportedly inked deals with Indian labels like T-Series and Times Music.
According to GSMArena, the company is working on expanding its global portfolio with larger players like Universal Music Group and Sony Music Entertainment.
In an aggressive push, Resso comes as a free version with ads and a paid version where you need to shell out Rs 119 a month.
According to a recent "CMR Music Streaming Apps Survey Report 2019" by the market research firm CyberMedia Research, Indians love listening to their favourite numbers mostly free, using music apps.
Nearly 55 percent of those surveyed indicate spending 20-30 percent of their time listening to music while an overwhelming 66 percent listened to music while in transit.
According to Prabhu Ram, Head, Industry Intelligence Group (IIG), CMR, Resso from Bytedance puts a whole new spin to music streaming, with the potential to become the next big blockbuster akin to TikTok.
According to the global market consulting firm Deloitte, the online music market in India is expected to surpass $273 million by 2020.
The competition is fierce and music streaming apps like Apple Music, YouTube Music, Amazon Prime Music, Spotify, Gaana and JioSaavn have drastically slashed their monthly subscriptions and are testing weekly as well as daily plans for the users.
"For the TikTok generation, Resso will come as a natural fit, enabling them to share music socially within their network," said Ram.
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