ByteDance’s music streaming play and Sony's big deal

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Editor's note: TikTok owner ByteDance, the world’s most valued startup, is on the lookout for its next global hit and seems to have narrowed the search down to a music streaming service. The company has released a beta version of the app—Resso—in India and Indonesia.  Called Resso, the new app is now available in India and Indonesia, two of Asia’s most populous countries and places already keenly familiar with TikTok. Since an initial launch six months ago, Resso has been installed by about 27,000 users across the iOS App Store and Google Play, according to data compiled by Sensor Tower, which said the numbers indicate promotion of the app began in earnest at the end of November. ByteDance, the world’s most valuable startup, has been quietly developing the app to challenge the likes of Spotify and Apple Music in countries where paid music services have yet to garner large audiences. From TikTok Owner Is Testing Music App in Bid for Next Global Hit • Bloomberg India already has at least a dozen music streaming services fighting over a small part of the …