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Some US lawmakers have called for a national security probe into the app, citing concerns about how user data is utilized and whether the app censors content. TikTok has pushed back against the criticisms. “TikTok has made clear that we have no higher priority than earning the trust of users and regulators in the US,” a company spokesperson said. Music ByteDance has already proven its ability to launch new music via TikTok. American rapper Lil Nas X achieved viral success on the platform with his independently produced single “Old Town Road” in early 2019. By the end of the year, the single was certified diamond and had sat atop the Billboard Hot 100 for a record-setting 19 weeks. Other hits that have benefited from the “TikTok effect” include “Uno” by Ambjaay and “Good as Hell” by Lizzo. Now, the company is moving to solidify its presence in the music space with the introduction of a dedicated app. In March 2020, ByteDance launched Resso — a “social music streaming app” — in India and Indonesia. The Southeast Asia launch could lay the groundwork for expansion to the US and elsewhere. Music streaming in India is a relatively modest $314M market, compared with the $4.5B US market, according to CB Insights’ Industry Analyst Consensus market sizing tool. Source: Resso 7/17PDF Image | How TikTok’s Owner Became The World’s Most Valuable Unicorn
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