Bytedance has started testing a music app named Resso in India and Indonesia in an attempt to capture a larger share of the music streaming market, Bloombergreported.
Why it matters:Despite being trapped in a stalemate with major global music labels that seek higher royalties than what the company currentlypays, Bytedance has been trying to challenge music-streaming giants such as Spotify and Apple Music in markets where their presence isn’t yet firmly established.
Details:Aimed at emerging markets, Resso launched six months ago, but the company only bgean to promote it at the end of November, according to the report citing analytics firm Sensor Tower.
- Around 27,000 users have installed the app across Apple’s App Store and Google Play.
- Like most Chinese music-streaming apps, Resso displays real-time lyrics and lets users post comments under songs. Users can also generate GIFs and create videos using music on the app.
- The app charges a monthly subscription of $1.7 in India, equal to what Spotify charges in the same market.
- Resso is currently in beta testing—a spokesperson told Bloomberg that the app is still in its very early stages.
- Bytedance has yet to reach deals with the world’s three largest record labels, Warner Music, Universal Music, and Sony Music, according the report citing people familiar with the matter.
Context:Along with Resso, Bytedance has also been developing an online music platform “Yinyuebang” for the Chinese market.
- Yinyuebang has a library of fewer than 30 songs popular on Douyin, all of which were created by artists enrolled in the app’s independent artist support program and are wholly owned by the short video app.
- Yinyuebang’s functionalities are very basic at the moment. The platform website is also adapted from one previously used by Bytedance’s home design app, and there is no mobile app yet on offer.
- Bytedance declined to provide any additional information about the project.