Indian music streaming service Gaana recently said that it now has more than 150 million monthly active users, with an independent study backing up its position as the most popular DSP in India.
What about its paid subscriptions business though? Conversion rates from free listeners to paying subscribers in India overall may in the very low single digits, but Gaana says it’s showing progress.
“We have grown almost four times [in terms of paid subscribers] in the last one year,” CEO Prashan Agarwal told the Business Standard, in an interview in which he also predicted that Gaana will have 225 million monthly active users by the end of its fiscal 2021. He also offered a prediction for the overall music streaming market in India.
“Four years from now, we expect the market would get to around 600 million users and by that time we expect a 6-7 per cent paid subscribers across the ecosystem and we should have the majority of that.” That would be around 40 million paying subscribers in India.
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