trending Market Intelligence /marketintelligence/en/news-insights/trending/eaXtL9AM9PjFgfRlBbMHYg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

ByteDance testing music streaming app in India, Indonesia

The Evolution Of ESG Factors In Credit Risk Assessment: Corporate Governance

Industry Top Trends 2021: Metals and Mining

TMT News & Research: 2020 Recap

Blog

Charter, DIRECTV and Comcast rank as the top 'RSN-friendly' MVPDs


ByteDance testing music streaming app in India, Indonesia

Beijing ByteDance Technology Co. Ltd. is testing its Spotify Technology SA-like service in India and Indonesia, Bloomberg News reported.

Called Resso, the app displays real-time lyrics and allows users to post comments under songs. Users can also generate graphics interchange formats, or GIFs, and create videos using music on the app.

The app, currently in a beta-testing phase, charges a monthly subscription fee of 119 rupees in India, equal to what Spotify charges in the South Asian country.

Aimed at emerging markets, Resso launched six months ago, but the company only began to promote it toward the end of November. About 27,000 users have installed the app across Apple Inc.'s App Store and Google Play, according to Sensor Tower data cited in the report.

ByteDance has yet to reach deals with major record labels Warner Music Group Corp., Universal Music Group Inc. and Sony Music Entertainment Inc., whose catalogs are crucial for Resso so it can compete globally, people familiar with the matter said.

As of Dec. 11, US$1 was equivalent to 70.76 Indian rupees.