New Delhi, Indian startups have raised $732.7 million across 107 deals in January this year amid layoffs, shutdowns and top-level exits. According to TheKredible's data, there were 70 early-stage deals with a total value of $314.4 million, and 21 growth-stage deals worth $418.3 million. There were 16 undisclosed rounds. In January, the total funding for startups experienced a significant decrease from $1.7 billion in the last month of 2023. It was also the lowest funding amount for January when compared to the last three years, reports Entrackr. Notably, no startup managed to secure funding above $100 million in January. <keyword id="20320433" type="General" weightage="20" keywordseo="vivifi" source="keywords">Vivifi</keyword>, a fintech startup, received the most funding in January, totalling $75 million. AiDash, wow! Momo, <keyword id="20450793" type="General" weightage="20" keywordseo="impact-analytics" source="keywords">Impact Analytics</keyword>, and BluSmart were among the five most funded companies last month. Three companies in the growth stage, OneCard, Infra.Market, and Yulu, have raised debt funding, as per the data. <keyword id="20450792" type="General" weightage="20" keywordseo="krutrim-si-designs" source="keywords">Krutrim SI Designs</keyword>, led by Bhavish Aggarwal, has announced $50 million in funding, making it the fastest unicorn in the Indian startup ecosystem. International Battery Finance and three fintech startups - StockGro, FinAGG, and Ecofy - made the top five list. StockGro raised the most debt last month, the report noted. Layoffs continued to stalk startups, with more than 600 layoffs across three companies. Online food delivery platform Swiggy led the way with 350 layoffs, followed by Cult.fit and InMobi. Flipkart, an e-commerce marketplace, was also in the news for firing over 1,000 employees. In addition to layoffs, several top-level employees left Indian startups. Udaan alone saw two departures, including CFO Aditya Pande and FMCG business head <keyword id="20400665" type="General" weightage="20" keywordseo="vinay-shrivastava" source="keywords">Vinay Shrivastava</keyword>. The CEOs of Indus Appstore and KnowledgeHut, both owned by PhonePe, and the co-founders of DealShare and Fashinza have left. Besides layoffs, cricket non-fungible token (NFT) platform Rario and ByteDance's <keyword id="20158260" type="General" weightage="20" keywordseo="resso" source="keywords">Resso</keyword> announced to shut down operations.

Indian startups raised $732 million across 107 deals in January

Amid the growing Twitter-Meta fight over Threads app, Chinese short-video-making app <keyword id="6762469" type="General" weightage="20" keywordseo="tiktok" source="Orion">TikTok</keyword> has launched a subscription-based music streaming service to take on market leaders <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> and <keyword id="685487" type="General" weightage="20" keywordseo="spotify" source="Orion">Spotify</keyword>. The subscription-only music streaming service called "TikTok Music" has been launched first in Brazil and Indonesia. The service replaces ByteDance's existing streaming service, Resso (which is available in India too), which will shut down on September 5 in Brazil and Indonesia. Existing Resso users can transfer their accounts to the new app "with the click of a button". "We are pleased to introduce TikTok Music, a new kind of service that combines the power of music discovery on TikTok with a best-in-class streaming service. TikTok Music will make it easy for people in Indonesia and Brazil to save, download and share their favourite viral tracks from TikTok," Ole Obermann, global head of Music Business Development at TikTok, said in a statement. TikTok Music lets users sync the service to their existing TikTok accounts and listen, download and share songs, reports TechCrunch.The service includes the catalogs of major record companies, including Universal Music Group, Warner Music Group and Sony Music. A TikTok Music subscription costs $3.49 a month in Brazil, and $3.25 for iOS users in Indonesia. Android users in Indonesia need to pay $2.96 a month for the first year, then $3.25 afterwards. TikTok Music doesn't include a free membership option, but offers a one-month free trial. TikTok Music lets you play full versions of viral TikTok songs, discover personalised music recommendations, access lyrics in real time, create collaborative playlists with friends, import your music library and find songs via lyrics search, said the report.--IANS na/

China's TikTok to take on Spotify, Apple with new subscription-based music service

<ul><li>TikTok’s parent company ByteDance launched its <keyword id="8867313" type="UNKNOWN" weightage="20" keywordseo="new-music-streaming-app">new music streaming app</keyword> <keyword id="8433078" type="UNKNOWN" weightage="20" keywordseo="resso">Resso</keyword> in India today.</li><li>In an interview with Business Insider, Resso’s head of music content and partnerships at Resso Hari Nair called the app a “social music streaming experience.”</li><li>He said the aim of the app is to turn ‘passive’ music listening into ‘active’ listening.</li></ul>TikTok’s parent company, ByteDance, just launched in a new music streaming app Resso in India. The internet technology company based out of Beijing is entering an already competitive market. It will have to go up against local players like Gaana and Mukesh Ambani-owned JioSaavn as well as international giants like Spotify. Resso is betting that its ‘vibes’ will stand out in the crowded market — a feature in the app that allows the user to post GIFs or short videos to individual songs. The aim is to make the music listening experience more “active” rather than “passive” and create a “social music streaming experience”, according to Resso’s head of music content and partnerships Hari Nair. “There was a clear void between streaming services and social media. Resso connects both of them very nicely,” Nair told Business Insider India. Vibes comes coupled with the comments feature so that listeners can interact with people listening to the same song. The paradox of choice Most popular music streaming apps are open to an explore page where users can browse through playlists and recent releases to choose what they want to listen to. Resso takes an approach that is exactly opposite. Instead of letting you choose, it chooses for you. The app’s instant-play feature starts streaming songs as soon as you open the app. Listeners can still dig into other options by navigating to the explore tab but for others who are bogged down by the ‘paradox of choice’ — having to choose between too many options — it’s a welcome reprieve to let Resso take control. “Many people came back to us and said that they didn’t need to skip over songs while using the instant-play feature so that means the recommendation is working. There were many motivating key points,” said Nair. However, since the suggestions are based on the app’s own artificial intelligence-based algorithm, the song choices largely depend on the preferences you select while signing up for an account. Considering that Spotify’s niche is its own algorithm, Resso will have to prove its mettle in how well it knows its listeners. Indie artists and exclusive songs One of the biggest pain points of the music streaming industry is that platforms have now started releasing songs which are exclusive. For instance, a JioSaavn user would have to download Gaana in order to listen to Mithi Mithi by Amrit Maan featuring Jasmine Sandals since it’s a Gaana exclusive — even though JioSaavn features other songs by the same artist. And, that’s something that even Resso can’t avoid. “I think that’s the nature of the industry, you can’t help it. All you can do is sign up more independent artists on your platform so that they don’t go anywhere,” said Nair. Independent artists are going to be a big play for the ByteDance-owned music streaming app. They plan on being the most aggressive to sign up new talent in the industry going forward. “Artists can come through a label or come directly to us, we will sign up all of them. We’ve already partnered with quite a few independent labels including Azaadi Records and BigBang. There are a couple of artists who have approached us directly. We will be most aggressive on independent music,” said Nair. Unlike Spotify’s rough start in India, Resso has licensing deals with all international and local majors locked down, including Warner, T-Series, Saregama, TimesMusic and others. Most regional majors are on board as well with the exception of one or two, which Nair said will be finalised in the coming month or two. The app is available for download on the Google Play Store and the iOS App Store. It’s free for use. The version has a limited music streaming to 128 kbps and users won’t be able to download songs. The paid version of the app costs ₹119 per month, much higher than its counterparts. Neither version features ads — for now. See also: <a href="https://www.businessinsider.in/tech/apps/news/spotify-will-need-to-dig-deeper-into-its-arsenal-to-win-over-the-competition-in-india-even-after-a-year-of-going-local/articleshow/74442169.cms">Spotify will need to dig deeper into its arsenal to win over the competition in India, even after a year of going local</a> <a href="https://www.businessinsider.in/apple-music-spotify-jiosaavn-gaana-subscription-price-in-india/articleshow/68737328.cms">Apple Music is now cheaper than Spotify in India</a>

TikTok owner ByteDance's new music streaming app Resso just launched in India — and it's betting on 'vibes' to beat Spotify, Gaana and JioSaavn

<ul><li>ByteDance-owned music streaming app <keyword id="8433078" type="UNKNOWN" weightage="20" keywordseo="resso">Resso</keyword> just launched in India is also a social networking platform. </li><li>It will have to navigate the country’s uncertain social media guidelines on two fronts — vibes, which are short videos or GIFS, and comments. </li><li>Resso currently has in-house moderators and community guidelines for quality control, however, the process may become more difficult as more users jump on board. </li></ul>ByteDance’s venture into music streaming involves making the experience more social with ‘vibes’ and comments on individual songs. However, this also means that the app will have to face the uncertainty around social media regulations in India. “We follow all the guidelines that are given by the Government of India. There is a clear set of community guidelines within the app. On top of that, we have hundreds of moderators ensuring quality control,” said Resso’s head of music content and partnerships Hari Nair in an interview with Business Insider. Resso will have to monitor two aspects of the app. One is comments, and the other is vibes — a feature that allows the user to post GIFs or short videos to songs. According to Nair, moderating comments is relatively easy. You can put filters in place and words are the only thing you have to keep an eye on. However, things get a little tricky when it comes to videos. Manual control of visuals Anyone can create a vibe and try to upload it, but it will have to clear Resso’s moderation policies. Since vibes are video clips, there is no filter in place that can detect if a video is infringing any licensing policy. “Comments are easier. When it comes to visual, you have to see each and every image. You can see if its infringing any other IP. It could be a song from record label A but maybe pushing videos from a song that’s from record label B,” said Nair. It’s also difficult to discern if there’s nudity or any inappropriate content without manual controls in place. “Over a period of time, you have to have manual moderations — on the vibes at least,” he said. The challenge of addressing more users Resso is targeting the 470 million users from Gen Z population in India. This means, if successful, there will be a lot more users on the platforms and a lot more vibes being created. Manual oversight over all of them will be a challenge set to grow with time. “As users increase, the number of moderators will increase all,” said Nair. However, additional recruitment is usually a reaction once things have already started going downhill — like in the example of Facebook. However, unlike Facebook, Resso does all of its quality control in-house and does not outsource to third-party moderators. As of now, the Indian government does not have any social networking specific guidelines in place despite multiple attempts to regulate conversation online, making it difficult to navigate already uncertain seas. Resso’s sister app TikTok was <a href="https://www.businessinsider.in/tiktoks-appeal-against-ban-for-hosting-porn-in-indian-supreme-court/articleshow/68851962.cms">banned temporarily last year</a> after petitioners accused the app of hosting child pornography. Any changes to the law in the near future could impact how stringently Resso will have to monitor the social exchanges on a music streaming app. See also: <a href="https://www.businessinsider.in/tiktok-ban-in-india-for-hosting-porn/articleshow/68720430.cms">An Indian court has banned TikTok for ‘encouraging pornography’</a> <a href="https://www.businessinsider.in/tech/apps/news/tiktok-company-bytedance-launches-music-streaming-app-resso-in-india/articleshow/74476292.cms">TikTok owner ByteDance's new music streaming app Resso just launched in India — and betting on 'vibes' to beat Spotify, Gaana and JioSaavn</a>

ByteDance’s Resso will closely watch its user videos to keep up with Indian social media laws

New Delhi, Mar 4 () ByteDance, which runs short-video platform TikTok, has launched a new music streaming service 'Resso' to take on competitors like Gaana, JioSaavn and Spotify in the Indian market. Resso, which calls itself the world's first social music streaming app, is also looking at expanding its service to Indonesia in the the next few months. "India is the first market where we are rolling out. The app is targeted at 18-24 year olds. It includes many exclusive and easy-to-use social features that will enable these Gen Z users to instantly connect with a larger community," Resso India Head of Music Content and Partnership Hari Nair told . He added that the company is working on expanding to Indonesia over the next few months. For accessing features like downloadable content, unlimited skips and high-quality audio, users will need to upgrade to a monthly premium subscription of Rs 99 for Android and Rs 119 for iOS. The basic app is free for users. Nair said the company's initial focus is on getting more users onboard but declined to comment on specific numbers. Noting that the company has partnered with local and international players, Nair said Resso has also inked deals with labels like Sony Music Entertainment, Warner Music Group, Merlin and Beggars Group, T-Series, Saregama, Zee Music, YRF Music, Lahiri Music, Divo and Muzik 247, among others. Resso, which allows users to generate content for the 'Vibes' feature, has set up a content moderation team to ensure that that inappropriate content is put up. The app has a scroll format (similar to TikTok) and allows users to discover music content as soon as they open the app. "Gen Z and millennials are at the core of our offering and both music and social networking are central to their daily lives. The relationship between music and the listener is currently passive but with Vibes, comments and other features, Resso aims to transform this through a new and compelling music streaming experience," Nair said. With increasing availability of affordable smartphones and cheap data plans, India is the largest mobile data consumer market globally -- an opportunity that global tech companies are vying to tap into. TikTok, which is part of China's ByteDance, has seen strong growth in its userbase in India. The platform, which allows users to create 30-second videos, has seen content being generated across categories like education, entertainment and food. It has over 200 million users in the country. SR HRS

TikTok parent ByteDance woos India's Gen Z with Resso

<ul class="summary-list"><li><keyword id="6762469" type="UNKNOWN" weightage="60" keywordseo="TikTok">TikTok</keyword>'s parent company <keyword id="3749909" type="PERSON" weightage="60" keywordseo="Bytedance">ByteDance</keyword> generated $3 billion in <keyword id="6362247" type="UNKNOWN" weightage="60" keywordseo="Profit">profit</keyword> last year, Bloomberg reports.</li><li>Sources told the publication that ByteDance pulled in $17 billion in revenue in 2019, more than double what it made in 2018.</li><li>The comfortable financial position means ByteDance can take its time with going public.</li></ul>ByteDance, parent company to short-form video app TikTok, pulled in more than $3 billion in profit last year, <a href="https://www.bloomberg.com/news/articles/2020-05-27/bytedance-is-said-to-hit-3-billion-in-profit-as-revenue-doubles">Bloomberg</a> reports.Sources familiar with the matter told Bloomberg that ByteDance generated $17 billion in revenue for 2019, a jump of more than double from 2018 when it made roughly $7.4 billion.Bloomberg's sources said the pool of cash means ByteDance is taking its time with its planned IPO, as it now has $6 billion in cash on hand. One analyst told Bloomberg the company could IPO at between $150 billion and $180 billion.It also makes ByteDance more profitable than several Silicon Valley peers, such as Twitter with net income of $1.47 billion, or Snapchat which reported a net loss for the year.ByteDance was not immediately available for comment when contacted by Business Insider.TikTok's global rise has been meteoric, and the app now poses a threat to the likes of American social media giants like Facebook and Twitter.The onset of the coronavirus pandemic has driven even more people to the app, <a href="https://www.businessinsider.com/tiktok-app-2-billion-downloads-record-setting-q1-sensor-tower-2020-4?r=US&amp;IR=TIR=T">which now has more than 2 billion users</a>.In Q1 of 2020 TikTok got 315 million new installs, the most downloads any app has ever gotten in a single quarter according to analytics firm <a href="https://sensortower.com/blog/tiktok-downloads-2-billion">Sensor Tower</a>.ByteDance has also quietly been expanding into music streaming, <a href="https://techcrunch.com/2020/03/04/resso-music-india-bytedance/">announcing the launch of its music streaming app</a> "Resso" in India in March of this year, <a href="https://www.businessinsider.com/sources-bytedance-courts-european-developers-instant-games-2020-1?r=US&amp;IR=TIR=T">as well as gaming</a>.Read the original article on <a href="https://www.businessinsider.com/bytedance-reportedly-hit-3-billion-net-profit-2020-5">Business Insider</a>

TikTok owner ByteDance reportedly hit $3 billion in net profit in 2019

<ul class="summary-list"><li>TikTok's owner is shuttering its music app Resso in India in response to government orders.</li><li>The move comes as TikTok is rolling out a separate music app in five countries.</li></ul>TikTok's parent company ByteDance is shutting down its music-streaming app <a target="_blank" href="https://www.businessinsider.com/tiktok-parent-bytedance-music-app-resso-growing-threat-to-spotify-2022-2">Resso</a> in India at the end of this month, a company spokesperson confirmed to Business Insider.The move comes after the Indian government demanded in December that Apple and Google remove Resso from app stores."Unfortunately, owing to local market conditions, we can no longer continue to serve users of Resso in India," a ByteDance spokesperson told BI. "We have therefore taken the decision to shut down Resso and its associated operations on January 31st. Users will be offered a refund of their remaining subscription fees."India was the last market where Resso operated after the company sunsetted the music-subscription service in Brazil and Indonesia to launch another streaming endeavor in those countries, called <a target="_blank" href="https://www.businessinsider.com/how-tiktok-music-streaming-compares-spotify-apple-music-apps-2023-8">TikTok Music</a>. The app blends some of the social features of TikTok with music streaming. TikTok Music, also available in Australia, Mexico, and Singapore, runs independently from Resso. The company hasn't announced plans to roll out TikTok Music in India.TikTok has been <a target="_blank" href="https://www.businessinsider.com/why-did-india-ban-tiktok-us-states-fcc-government-2023-1">banned in India</a> since 2020, when the government boxed out dozens of China-affiliated apps amid a geopolitical scuffle with the country. Given that it has the same corporate owner as TikTok, how Resso managed to dodge the ban for several years remains a mystery.TikTok's removal from India doesn't seem to have curtailed the app's growth globally, as the company announced in September 2021 that it had crossed 1 billion users.While TikTok is now effectively shut out of one of the most populous markets for music streaming, the company still has plenty of room to expand its TikTok Music subscription service as it competes with incumbents like Spotify, Apple Music, and YouTube Music. The company has not announced plans to roll out TikTok Music in the US, but ByteDance filed in May 2022 a <a target="_blank" href="https://www.businessinsider.com/tiktok-bytedance-filed-trademark-for-music-streaming-app-2022-7">trademark application</a> with the US Patent and Trademark Office for the service, BI first reported.The shuttering of Resso comes at an interesting moment for TikTok, which has been flexing its <a target="_blank" href="https://www.businessinsider.com/how-tiktok-is-changing-music-industry">influence in the music industry</a> outside the confines of its app. Beyond offering a streaming service in five markets, the company hosted in December a <a target="_blank" href="https://www.businessinsider.com/tiktok-first-live-music-event-smartphone-was-the-star-2023-12">sold-out live music event</a> in Mesa, Arizona, featuring artists including Cardi B and Peso Pluma. TikTok also offers <a target="_blank" rel="" href="https://www.businessinsider.com/tiktok-soundon-music-marketing-seeks-ar-lead-in-north-america-2023-3?">artist services</a> via its SoundOn division and works with <a target="_blank" rel="" href="https://www.businessinsider.com/tiktok-radio-siriusxm-partnership-creators-host-viral-song-trends-explained-2022-11">SiriusXM</a> on a "TikTok Radio" station.An <a target="_blank" href="https://www.businessinsider.com/tiktok-music-exec-why-introducing-concerts-artist-tools-2023-12">executive on TikTok's music team</a> told BI in December that the company aims to build new features to make artists' lives easier."We want to maximize the amount of time artists have to do what artists do and make it as easy for them as possible," said Paul Hourican, TikTok's global head of music partnerships and programming.Indian business publisher <a target="_blank" href="https://www.moneycontrol.com/europe/?url=https://www.moneycontrol.com/news/technology/tiktok-parent-bytedance-to-shut-down-music-streaming-service-resso-in-india-on-january-31-12035871.html">Moneycontrol</a> first reported the news of Resso's planned shutdown.Representatives for the Indian government did not immediately respond to a request for comment from BI.

India is blocking TikTok's owner from offering music streaming as the company looks to build a Spotify competitor

<ul class="summary-list"><li>TikTok is expanding its music-streaming app on July 19 into three new markets.</li><li>A small set of users in Australia, Mexico, and Singapore will soon be able to try TikTok Music.</li></ul>Earlier this month, TikTok announced it was rolling out a music-streaming app in Brazil and Indonesia. Starting tomorrow, it's expanding the product, TikTok Music, for a limited set of users in Australia, Mexico, and Singapore, a spokesperson told Insider.Users who are approved to join its closed beta in the new markets will receive a three-month free trial for the service.If TikTok Music eventually makes its way into other countries such as the US, where it <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/tiktok-bytedance-filed-trademark-for-music-streaming-app-2022-7">filed a trademark application</a> in May 2022, it would immediately become a weighty rival for streamers like Spotify, Apple Music, and Tidal.The TikTok spokesperson also said the company will have "more news to share on the launch of TikTok Music in the coming months."TikTok's video app is enormously influential in <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/how-tiktok-is-changing-the-music-industry-marketing-discovery-2021-7">music discovery and artist promotions</a>. Record labels, music marketers, and artists spend thousands of dollars to <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/how-much-tiktok-creators-get-paid-to-promote-songs-marketers-2021-6?">hire TikTok influencers</a> to include tracks in videos. Some even create custom <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/how-music-marketers-use-ar-augmented-reality-tiktok-snapchat-instagram-2023-3?">augmented-reality effects</a> or enlist <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/tiktok-music-remixes-mashups-change-how-songs-are-released-marketed-2022-9?">remix artists</a> to build hype for songs on the app."It's the most important thing that's happened in the music industry in a long time," Jonny Kaps, cofounder and CEO of the independent label +1 Records, <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/tiktok-music-distribution-marketing-everything-app-industry-impact-2023-4">told Insider</a> in May. "It just allows us to build a new artist audience in a way that we've never really been able to do before."With TikTok Music, the company can connect the dots between music discovery and audio streaming. TikTok Music users can sync their accounts directly to TikTok, making it easy to hear a song snippet and then click over to stream the full track.Its competitors are certainly taking notice. Spotify added its own TikTok-like <a target="_blank" rel="noopener noreferrer nofollow" href="https://techcrunch.com/2023/03/08/spotify-revamps-its-app-with-tiktok-style-discovery-feeds-smart-shuffle-for-playlists-and-more/">short-video feed</a> in March. Its CEO Daniel Ek described TikTok as a "formidable competitor" during the company's January earnings call.TikTok's push into audio streaming isn't exactly a surprise. The company first filed an Australian trademark application for <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/tiktok-bytedance-filed-trademark-for-music-streaming-app-2022-7">"TikTok Music"</a> in November 2021, Insider reported. Its parent company ByteDance has also been testing a music-streaming app called <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/tiktok-parent-bytedance-music-app-resso-growing-threat-to-spotify-2022-2">Resso</a> in India, Brazil, and Indonesia since 2020. TikTok Music is set to eventually <a target="_blank" rel="noopener noreferrer nofollow" href="https://variety.com/2023/music/news/tiktok-launches-music-streaming-service-brazil-and-indonesia-1235662600/">replace Resso</a> in the latter two markets.Outside streaming, TikTok has been experimenting with other ways to make money from its influence over music. Last year it launched an artist distribution and marketing product called <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/tiktok-music-distribution-marketing-everything-app-industry-impact-2023-4">SoundOn</a>, even <a target="_blank" rel="noopener noreferrer nofollow" href="https://affiliate.insider.com?h=f3bf4759d4e0bb7717f50008a4641d22efe9a7fa97b2aa58632fa1b6e34520ec&amp;postID=64b6b526cfd80840cfaec0d8&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Ftiktok-tests-exclusive-deals-with-music-artists-edging-into-labels-turf">testing</a> signing artists directly. The company also recently <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/tiktok-testing-hot-50-and-viral-song-charts-music-app-2023-7">rolled out</a> its own version of the Billboard 100 or Spotify Viral 50 music charts for a subset of users.

TikTok is hitting the accelerator on its Spotify rival as it tests music streaming in 3 new markets

<ul class="summary-list"><li>ByteDance is talking to music labels to expand its music-streaming services globally, per the WSJ.</li><li>The move could set it up to compete with music-streaming rival Spotify.</li></ul>ByteDance, the parent company of TikTok, has initiated talks with music labels in order to expand its music streaming services globally, the Wall Street Journal reported Wednesday. The move would set it up to compete with the likes of Spotify.ByteDance wants the music-streaming service to become part of TikTok's offerings, acting as a major platform to distribute music globally, the Journal reported, citing unnamed sources who are a part of the discussions. The talks have been strained at times over disagreements about the valuation of TikTok's promotional benefits for the labels.In order to expand into music streaming, ByteDance needs to strike deals with all of the major music labels, per the Journal.Spotify currently has over 433 million monthly users, <a href="https://www.statista.com/statistics/367739/spotify-global-mau/">per Statista</a>.TikTok currently has around 488.2 million monthly average users, according to data from <a href="https://apptopia.com/free-competitive-intelligence-report?store=unified&amp;ref_no=8080519545&amp;multisuccess=true">Apptopia.</a> Currently, it's best known for its viral dance videos, as a de facto <a href="https://www.nytimes.com/2022/09/16/technology/gen-z-tiktok-search-engine.html">search engine for Gen Z</a>, and as a platform for <a href="https://www.businessinsider.com/how-tiktok-is-changing-the-music-industry-marketing-discovery-2021-7">discovering new music</a>.ByteDance did not immediately respond to Insider's request for comment. <h2>Move over, Spotify and Apple Music</h2><a href="https://www.businessinsider.com/tiktok-bytedance-filed-trademark-for-music-streaming-app-2022-7">Insider first reported</a> that ByteDance had filed a trademark application with the <a href="https://tsdr.uspto.gov/#caseNumber=97400772&amp;caseType=SERIAL_NO&amp;searchType=statusSearch">US Patent and Trademark Office in May</a> for "TikTok Music." This app would allow users to purchase, play, share, and download music, songs, albums, and lyrics, according to the patent application.TikTok is now moving to snatch market share from the likes of Spotify and Apple Music.The company already runs a streaming app called Resso in India, Brazil, and Indonesia. Resso has <a href="https://www.businessinsider.com/tiktok-parent-bytedance-music-app-resso-growing-threat-to-spotify-2022-2">styled itself as a social-music app</a> and has sponsored music festivals at universities to push its offering to a young crowd. Resso has also been grabbing market share in India, Insider <a href="https://www.businessinsider.com/tiktok-parent-bytedance-music-app-resso-growing-threat-to-spotify-2022-2">reported</a> in February.It has also been <a href="https://www.businessinsider.com/tiktok-parent-bytedance-music-app-resso-growing-threat-to-spotify-2022-2">grabbing market share</a> from other streamers in the past year.However, more market share does not mean more money trickling in. Very few users are <a href="https://www.wsj.com/articles/tiktok-parent-bytedance-plans-music-streaming-expansion-11665602937?mod=hp_lead_pos1">paying for Resso</a>. Consequently, making money off Resso has been difficult in the three markets it operates in, sources told the Journal, anecdotally highlighting the case of Sony Group, which recently <a href="https://www.musicbusinessworldwide.com/sony-music-pulls-catalog-resso-tiktoks-sister-subscription-platform/">let licensing deals lapse in Resso's three regions</a> and took its songs off Resso's offerings.

TikTok already took over as Gen Z's social platform of choice. It might be coming for Spotify next.

How TikTok is changing the music industry and the way we discover new, popular songs

<img src="https://static-ssl.businessinsider.com/image/5db7f3c9dee01911206c5f42-2400/tiktok bytedance.jpg" alt="TikTok ByteDance" />Costfoto / Barcroft Media via Getty ImagesTikTok has seen a meteoric rise.<ul class="summary-list"><li>ByteDance, the $75 billion company that owns TikTok, has been trialling a new music app called "Resso."</li><li>Resso has been rolled out in India and Indonesia, and a spokesperson said it's still in its beta-testing phase.</li><li>TikTok has become a big threat to social media giants like Facebook, and has come under intense scrutiny in the US because of its Chinese roots.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Spotify and Apple Music may have to brace themselves for a new rival.Over the last six months TikTok's parent company ByteDance has been testing a music app, <a href="https://www.bloomberg.com/news/articles/2019-12-11/tiktok-owner-is-testing-music-app-in-bid-for-next-global-hit?utm_medium=social&amp;utm_content=tech&amp;utm_source=twitter&amp;cmpid%3D=socialflow-twitter-tech&amp;utm_campaign=socialflow-organic">Bloomberg reports</a>.The app is called "Resso," and has been rolled out in India and Indonesia. India in particular has been a booming market for TikTok, with <a href="https://www.businessinsider.com/tiktok-hits-15-billion-downloads-outperforming-instagram-2019-11?r=US&amp;IR=T">Indian users making up 31% of the app's total downloads</a>.Unlike more mainstream music-streaming apps, Resso displays real-time lyrics alongside songs and allows users to leave comments on individual tracks. According to Bloomberg users can also make music-accompanied gifs and videos, reminiscent of the lip-syncing feature which made TikTok so popular amongst teens.A spokesperson told Bloomberg the app is still in its beta-testing phase. "We are optimistic about its long-term prospects but we are still very early in the process and only in a limited number of developing markets," the spokesperson added.Short-form video app TikTok has become a major threat to dominant US social media companies, <a href="https://www.businessinsider.com/mark-zuckerberg-facebook-competition-with-tiktok-market-strategy-leaked-audio-2019-10?r=US&amp;IR=T">most notably Facebook</a>. Now that ByteDance - which was valued at $75 billion last year - has thrown its weight behind a new music app, dominant music-streaming services like Spotify and Apple Music have good reason to worry.The existential threat TikTok represents to American companies has been compounded by the fact ByteDance is a Chinese firm. US lawmakers have called for an <a href="https://www.businessinsider.com/tiktok-alex-zhu-cancels-senators-meetings-china-censorship-privacy-investigations-2019-12?r=US&amp;IR=T">investigation into alleged Chinese state censorship on the platform</a>, and the <a href="https://www.businessinsider.com/army-examines-tiktok-security-concerns-after-schumers-data-warning-2019-11?r=US&amp;IR=T">US army is currently investigating how the app handles users' data</a>.<a href="https://www.businessinsider.com/intelligence/connectivity-and-tech-pro?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=spotify&amp;itm_campaign=connectivity-and-tech-pro-2"><img src="https://static.businessinsider.com/image/5dcb0e3e3afd377ea8657142" alt="Signup Today: Connectivity and Tech Pro by Business Insider Intelligence" style="width: 100% !important" /></a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/nintendo-winning-video-games-fastest-selling-console-2019-3">Nintendo Switch is the fastest-selling console of the current generation - here's why Nintendo is dominating video games</a></h3> <iframe class="bijwplayerclass" src="https://content.jwplatform.com/players/fx50Pyeh-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;"></iframe>

TikTok's owner has been quietly testing a Spotify competitor

<ul class="summary-list"><li>On June 29 <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> banned 59 Chinese <keyword id="6354741" type="UNKNOWN" weightage="60" keywordseo="Apps">apps</keyword> including video app <keyword id="6762469" type="UNKNOWN" weightage="60" keywordseo="TikTok">TikTok</keyword>, which is wildly popular in India.</li><li>On Monday, the Indian government banned a further 47 apps which were clones that allowed people access to the previously banned apps.</li><li>It also published a list of 275 more apps it's considering banning.</li></ul>Last month India banned 59 Chinese apps including the wildly popular TikTok, citing a need for "data sovereignty."Now the country has booted a further 47, and is reviewing 275 more for potential bans.The 47 apps which have been freshly banned were primarily clones or variants of services like TikTok per <a href="https://www.indiatoday.in/india/story/pubg-alibaba-xiaomi-to-be-banned-india-prepares-list-of-over-250-chinese-apps-1704814-2020-07-27">India Today</a>. One of the banned apps was called "TikTok Lite."Punit Agarwal, head of the Delhi BJP's IT and social media cell, confirmed the news on Twitter, writing: "Govt of India bans 47 more Chinese apps which were variants and cloned copies of the 59 apps that were banned in June. These banned clones include Tiktok Lite, Helo Lite, SHAREit Lite, BIGO LIVE Lite and VFY Lite. Over 250 more apps under radar including PubG. <a href="https://twitter.com/hashtag/DigitalStrike?src=hashtag_click">#DigitalStrike</a>."Before it was <a href="https://www.businessinsider.com/india-banned-tiktok-china-apps-tensions-2020-7?r=US&amp;IR=TIR=T">banned on June 29</a>, TikTok had an enormous audience in India. In April the <a href="https://www.businessinsider.com/tiktok-app-2-billion-downloads-record-setting-q1-sensor-tower-2020-4">app surpassed 2 billion downloads worldwide</a>, of which 611 million came from India and accounting for 30% of TikTok's total global audience.Indian TikTok users seem to be feeling the app's absence keenly.Data from analytics site <a href="https://sensortower.com/blog/tiktok-alternatives-growth-india">Sensor Tower</a> shows since TikTok was banned download rates for the three next most popular video sharing apps have shot up 155%.<a href="https://economictimes.indiatimes.com/tech/internet/after-ban-on-59-chinese-apps-275-more-on-radar/articleshow/77188360.cms?from=mdr">The Economic Times</a> reports the Indian government is reviewing a further 275 apps, including popular battle royale video game "Player Unknown's Battlegrounds" (PUBG) which is owned by Chinese gaming giant Tencent. Also included on the list is Resso, a music streaming app owned by TikTok's parent company ByteDance.The initial <keyword id="6354651" type="PERSON" weightage="60" keywordseo="ban">ban</keyword> on Chinese apps came into force after a flare-up in geopolitical tensions between India and <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword> following a skirmish in the disputed territory of Ladakh in northern India.India isn't the only country that clamping down on Chinese apps. Pakistan last week issued a final warning to TikTok, citing complaints about "immoral content." Earlier this month Pakistan also placed a temporary ban on PUBG, saying it had also received complaints that the game was "addictive, [a] wastage of time and poses serious negative impact on physical and psychological health of the children."The Trump administration has also made noises about a potential TikTok ban. Secretary of State <a href="https://www.businessinsider.com/pompeo-says-us-certainly-considering-banning-tiktok-fox-news-2020-7">Mike Pompeo said on July 7 the US is "certainly" considering banning TikTok</a> over privacy and national security concerns. A day later President Trump said he was thinking about banning TikTok as <a href="https://www.businessinsider.com/donald-trump-considering-banning-tiktok-2020-7">a means of punishing China for outbreak of the coronavirus pandemic</a>.

India has banned 47 more Chinese apps including a TikTok clone and is eyeing hundreds more

<img src="https://static-ssl.businessinsider.com/image/5dc593a43afd377d7979040b-1408/ap653872865503.jpg" alt="kalanick" />Evan Agostini/Invision/APFormer Uber CEO Travis Kalanick.Good morning! This is the tech news you need to know this Monday.<ol><li><a href="https://www.businessinsider.com/ring-security-after-hacks-let-strangers-watch-talk-girl-2019-12?r=US&amp;IR=T">Amazon-owned Ring has said it will introduce new security features after hackers broke into a camera in an 8-year-old's bedroom, where they could watch and talk to the child</a>. A Tennessee family said that hackers broke into a Ring home-monitoring camera in their 8-year-old daughter's bedroom, and the intruders were able to watch and speak to her.</li><li><a href="https://techcrunch.com/2019/12/15/ubereats-india-zomato/">Uber is reportedly in talks to sell its Uber Eats delivery business in India to local rival Zomato</a>. According to TechCrunch, the deal currently values Uber Eats' business at $400 million.</li><li><a href="https://www.androidpolice.com/2019/12/15/google-pauses-chrome-79-rollout-on-android-after-bug-wipes-data-in-some-apps/">Google halted the rollout of the latest version of Chrome, thanks to a bug that wipes user data</a>. The issue has affected Android apps, and resulted in users losing login data.</li><li><a href="https://www.businessinsider.com/googles-waymo-acquires-latent-logic-expands-into-europe-2019-12?r=US&amp;IR=T">Alphabet's self-driving car company Waymo broke ground in Europe by buying Oxford startup Latent Logic</a>. As well as buying up Latent Logic's tech and talent, Waymo announced that it would establish its first European engineering hub. </li><li><a href="https://www.businessinsider.com/facebook-employee-data-stolen-payroll-data-thief-car-2019-12?r=US&amp;IR=T">The banking information of 29,000 Facebook employees was stolen in 'smash and grab' theft from an employee's car</a>. The data was reportedly stored on unencrypted corporate hard drives, which the thief stole from a Facebook employee's car.</li><li><a href="https://www.businessinsider.com/wework-changes-employee-compensation-after-tumultuous-fall-2019-12?r=US&amp;IR=T">WeWork is overhauling its employee compensation plan, according to a memo sent to staff on Thursday by its head of people that was seen by Business Insider</a>. The package includes base salary, an annual cash bonus, and annual equity grants. Previously, employees had equity but not through an annual grant system.</li><li><a href="https://www.businessinsider.com/turvo-ceo-fired-strip-clubs-spending-75000-eric-gilmore-2019-12?r=US&amp;IR=T">The CEO of a Silicon Valley startup was quietly fired after allegedly spending over $75,000 at strip clubs and charging it to a company credit card</a>. Eric Gilmore, the CEO of Silicon Valley startup Turvo, was fired back in May after it was discovered he spent more than $75,000 at strip clubs and expensed it, <a href="https://www.bloomberg.com/news/articles/2019-12-13/a-startup-fired-its-ceo-for-expensing-76-120-at-strip-clubs">Bloomberg reported</a>.</li><li><a href="https://www.businessinsider.com/apple-free-genetic-testing-employees-color-genomics-report-2019-12?r=US&amp;IR=T">Apple is reportedly rolling out a new perk for employees: free genetic testing at its on-site wellness clinics</a>. The free genetic tests, which will reportedly be carried out through a partnership with Color Genomics, are one of many health perks Apple is rolling out for its workers.</li><li><a href="https://www.businessinsider.com/travis-kalanick-liquidates-millions-of-dollars-worth-of-uber-stock-2019-12?r=US&amp;IR=T">Uber's co-founder and former CEO Travis Kalanick sold off close to $166 million shares over the last week, continuing to offload his stake in the ride-sharing giant</a>. The ousted chief executive has sold off a little more than $2 billion worth of Uber stock since the company's post-IPO lockup period in early November, an act that has rapidly liquidated his stake in the company. </li><li><a href="https://www.businessinsider.com/tiktok-owner-bytedance-testing-music-app-resso-2019-12?r=US&amp;IR=T">ByteDance, the $75 billion company that owns TikTok, has been trialling a new music app called "Resso."</a> Resso has been rolled out in India and Indonesia, and a spokesperson said it's still in its beta-testing phase. </li></ol>Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.You can also <a href="https://newsletter.businessinsider.com/join/free">subscribe to this newsletter</a> here - just tick "10 Things in Tech You Need to Know." <h3>NOW WATCH: <a href="https://www.businessinsider.com/cooked-entire-thanksgiving-dinner-using-google-home-hub-2018-11">I tried cooking an entire Thanksgiving dinner using Google Home Hub and found there are 2 major flaws with it</a></h3> <iframe class="bijwplayerclass" src="https://content.jwplatform.com/players/PMUC6BwZ-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;"></iframe>

10 things in tech you need to know today

<ul><li><keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> has invested $5.7 billion for a 9.9% stake in <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> which puts the pre-deal valuation at ₹4.4 lakh crore. </li><li>The reason <keyword id="6354630" type="PERSON" weightage="20" keywordseo="mark-zuckerberg">Mark Zuckerberg</keyword>’s investment makes sense is because <keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword> is likely to be the fastest-growing segment for Reliance in the post-COVID world. </li><li>It’s also a way for Facebook to gain an edge in the Indian market which has largely been a duopoly between Facebook and Google when it comes to digital solutions for over a decade — a duopoly that has come under pressure with ByteDance’s entry.</li></ul>Facebook announced that it has invested $5.7 billion for a 9.9% stake in Mukesh Ambani’s Reliance Jio platform — India’s largest telecom player by the <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-collaborates-with-mark-zuckerbergs-facebook-to-launch-digital-literacy-program-in-india/articleshow/70066803.cms">number of subscribers</a> ⁠— and in early trade, Reliance Industries (RIL) <a href="https://www.businessinsider.in/india/news/mukesh-ambanis-reliance-industries-stock-gets-a-50000-crore-facebook-boost/articleshow/75285485.cms">share price jumped up as much as 7.5%</a>. This is because Facebook’s Mark Zuckerberg has paid a certain premium for a stake in Reliance Jio. The investment has valued Jio at over half of RIL’s total market capitalisation as on April 21. Jio makes up for less than a tenth of RIL’s consolidated revenue which includes other segments like retail, petrochemicals, and oil and gas exploration to name a few. <div type="image" title="RIL" msid="75286310" hostid="261" caption="&amp;lt;p&amp;gt;Reliance Industries&amp;#39; share price today morning, April 22&amp;lt;/p&amp;gt;"></div> What is the real worth of Reliance Jio? On April 14, HDFC Securities valued Jio at ₹4.8 lakh crore. For every share of RIL which was worth around ₹1,400 then, JIo was estimated to be ₹811 — 57.9% of the market cap. Deven Choksey, the managing director of KR Choksey Shares &amp; Securities told Business Insider, on April 21, that he valued Jio at ₹550 rupees a share when RIL was trading at around ₹1200. Based on a market cap ₹7.8 lakh crore, Jio would be worth ₹3.4 lakh crore by Deven's estimate. At a <a href="https://www.businessinsider.in/business/news/facebook-picks-up-10-stake-in-jio-platform-for-rs-43574-cr/articleshow/75283937.cms">pre-deal value of ₹4.4 lakh crore</a>, Zuckerberg’s buy-in is about 33% higher than what Choksey had estimated on Tuesday. This explains why RIL’s shares have spiked in a market that’s bearing down due to the impact of Coronavirus. Why Facebook needs Jio The reason Zuckerberg’s investment makes sense is because Jio is likely to be the fastest-growing segment for Reliance in the post-COVID world. Even though the Reliance subsidiary is only three-and-a-half years old, it has stolen the top spot from others like Vodafone and Bharti Airtel to become the largest telecom player in the country making it an attractive buy-in for the US company. “The recent tariff hike should still allow Jio’s EBITDA (earnings before interest, tax, depreciation and amortization) to rise 78% YoY [year-on-year] in FY21. Strong telecom and a weaker rupee will offset big cuts in petrochemicals, refining and retail as FY21 EPS rises a small 1.6% YoY,” estimates capital market and investment group, CLSA. It’s also a way for Facebook to gain an edge in the Indian market which has largely been a duopoly between Facebook and Google when it comes to digital solutions for over a decade. The duopoly that has recently been threatened by ByteDance making inroads with its mobile apps like TikTok and Resso. Entering India hand-in-hand with Jio will give Facebook access to its 370 million subscribers. There are over 451 million active internet users in the country today with the number estimated to rise beyond 600 million in the coming year, according to Internet and Mobile Association of India (<a href="https://cms.iamai.in/Content/ResearchPapers/d3654bcc-002f-4fc7-ab39-e1fbeb00005d.pdf">IAMAI</a>). What does Asia’s second-richest man get from the deal? For Ambani, CLSA forecasts that big deals like the one between Ambani and Zuckerberg will help reduce the burden of debt on RIL, which was at about $22 billion ⁠— 2.7 times its EBITDA⁠— at the end of March 2019. CLSA expects that the ratio will fall to 1.7 times in FY22 even before the Jio-Facebook deal was announced. RIL’s plan to reduce its debt also included a stake sale in its energy business to Saudi Arabia’s Aramco. But the crash in crude oil prices has cast a shadow on the stake sale to Aramco. A fresh start for Facebook This could be a new chapter for Facebook who has been trying to crack the Indian market for a while, but precious ventures like FreeBasics and internet.org did not have the <a href="https://www.businessinsider.in/tech/news/mukesh-ambani-and-mark-zuckerberg-are-looking-to-create-a-wechat-like-super-app-says-report/articleshow/75174322.cms">expected outcome</a>. It also puts Facebook head-to-head against the likes of Japan’s SoftBank, which normally holds the title of being India’s largest tech investor with over $10 billion invested across the country in unicorns like Flipkart, Ola and OYO. See also: <a href="https://www.businessinsider.in/business/news/facebook-picks-up-10-stake-in-jio-platform-for-rs-43574-cr/articleshow/75283937.cms">Mark Zuckerberg's Facebook picks up 9.9% stake in Mukesh Ambani's Jio for $5.7 billion</a> <a href="https://www.businessinsider.in/india/news/mukesh-ambanis-reliance-industries-stock-gets-a-50000-crore-facebook-boost/articleshow/75285485.cms">Facebook’s investment in Reliance Jio boosts RIL share value by ₹50,000 crore</a>

You Searched For "bytedance s resso" and got 15 results

Indian startups raised $732 million across 107 deals in January

IANS

China's TikTok to take on Spotify, Apple with new subscription-based music service

IANS

TikTok owner ByteDance's new music streaming app Resso just launched in India — and it's betting on 'vibes' to beat Spotify, Gaana and JioSaavn

Prabhjote Gill

ByteDance’s Resso will closely watch its user videos to keep up with Indian social media laws

Prabhjote Gill

TikTok parent ByteDance woos India's Gen Z with Resso

PTI

TikTok owner ByteDance reportedly hit $3 billion in net profit in 2019

Isobel Asher Hamilton

India is blocking TikTok's owner from offering music streaming as the company looks to build a Spotify competitor

Dan Whateley

TikTok is hitting the accelerator on its Spotify rival as it tests music streaming in 3 new markets

Dan Whateley

TikTok already took over as Gen Z's social platform of choice. It might be coming for Spotify next.

Nidhi Pandurangi

How TikTok is changing the music industry and the way we discover new, popular songs

Dan Whateley

TikTok's owner has been quietly testing a Spotify competitor

Isobel Asher Hamilton

India has banned 47 more Chinese apps including a TikTok clone and is eyeing hundreds more

Isobel Asher Hamilton

10 things in tech you need to know today

Shona Ghosh

Here's why Facebook's Mark Zuckerberg is paying top dollar for a stake in Mukesh Ambani's Reliance Jio

Prabhjote Gill

How TikTok is changing the music industry

Dan Whateley