Gaana, India’s greatest music-streaming service, stated at present that’s it’s introducing movies to its app and providing artists extra listeners’ knowledge because it races to draw extra customers and expertise to widen its market dominance.
The eight-year-old service, owned by conglomerate Occasions Web, additionally revealed that it has amassed 100 million month-to-month energetic customers, up from some 80 million it had said in December final 12 months. Gaana CEO Prashan Agarwal stated his app is about 1.four occasions greater than its closest rival when it comes to streaming hours.
The primary characteristic, dubbed Gaana Video, will showcase made-for-mobile, vertical movies from India’s high music artists, the corporate stated. In a press release, Agarwal stated the movies can be unique to the platform.
The brand new video providing come as Gaana pushes to distinguish its service from a rising military of rivals. It at present competes with Spotify, which launched in India earlier this 12 months, Apple Music, Google’s Play Music and YouTube Music, along with different native gamers reminiscent of Airtel’s Wynk and Reliance Jio’s JioSaavn.
All these companies are aggressively priced. Whereas many, together with JioSaavn, Airtel Wynk, and Spotify supply a free, ad-supported tier to customers, people who serve an ad-free premium service nonetheless price lower than $2 a month. If that didn’t made India’s music streaming service panorama robust sufficient, all these companies additionally largely carry the identical set of 40 million tracks.
India has emerged as one of many largest markets for music streaming in recent times. Analysis agency Counterpoint informed VentureBeat final month that about 150 million customers in India recurrently entry music streaming companies. In a report (PDF) revealed this week, Deloitte and recording trade physique IMI estimated that the Indian music market generated $130.7 million in income in 2017.
So as to add differentiation to their platforms, music-streaming giants in India are more and more making an attempt to safe rights to unique content material reminiscent of tracks from concert events and podcasts. Gaana says it has significantly expanded its library of regional songs in recent times with tracks in additional than 30 Indic languages. The corporate additionally constructed a voice search assistant to assist customers discover songs. (In India, individuals seek for songs by trying up for names of actors who starred in a film.) It says about 24% of its customers leverage this characteristic.
At the moment, Gaana can also be launching Artist Dashboard, by way of which it’ll assist artists establish which songs of theirs are gaining traction. “The information is immediately and routinely accessible for all artists, permitting them to see up-to-date statistics on their consumption, and to raised perceive how, the place, and when their music is being consumed,” the corporate stated.
Gaana, which raised $115 million final 12 months from Chinese language web big Tencent and others, monetizes its platform by way of advertisements and a subscription plan. It’s not worthwhile and burns tens of hundreds of thousands of every year in licensing tracks from music labels (this isn’t distinctive to Gaana, after all), two individuals accustomed to music app’s funds informed VentureBeat.
A big variety of Gaana’s userbase lives in small cities and cities, which curtails the promoting income it may generate from these customers. Gaana stated its utilization grew most in these locations final 12 months. It didn’t share what number of paying prospects it has.
After which there may be YouTube, which most customers in India gravitate towards after they want to hearken to music, based on Nielsen. YouTube reaches about 250 million customers in India, its quickest rising market, every month. India music label T Collection, which publishes its music tracks on YouTube, is the most important channel on the platform globally.