TikTok’s parent company takes on music streaming giants in India, like Spotify and Gaana, with Resso
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. As music consumption in India undergoes a gradual evolution, China-based Bytedance, which has tasted the 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 1,00,000 times, according to data from app analytics firm Sensor Tower. The app is developed by Moon Video Inc. and has reportedly inked deals with Indian labels like T-Series. According to reports, 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 Prabhu Ram, Head, Industry Intelligence Group (IIG), CMR, Resso from Bytedance puts a whole new spin to music streaming, with potential to become the next big blockbuster akin to TikTok.
"Though its early days yet, I believe Resso's X-factor is the social network feel that Bytedance has woven around the app. Unlike other music apps, Resso enables users to comment on songs, create TikTok-type video clips and gifs," Ram told the media. According to the global market consulting firm Deloitte, 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.
*Edited from IANS report