One thing we’ll say about India’s music streaming market: the DSPs aren’t shy of setting out their grand ambitions publicly.
In July last year, Gaana’s CEO Prashan Agarwal announced that his company wanted to reach 250 million monthly active users by the end of its next financial year, and 500 million within the next three years across music, podcasts and its short-video app HotShots.
Now one of Gaana’s main rivals, Wynk Music, has set out its own goals, and while they aren’t quite at the level of Gaanas, they still reflect confidence in the future growth of the Indian streaming market.
The prediction comes from the unusual source (news-wise) of the Amazon Web Services website. Wynk Music is one of Amazon’s cloud customers, and now a case study which includes some stats.
The piece explains that Wynk Music currently has 72 million monthly active users, and later adds that it is “looking to achieve 300 million active users in the next 3 years” and “grow its active user base from 70 to 100 million over the next 9 months”.
Head of technology Ankit Srivastava also said that Wynk Music is hoping to “increase our paid user base from 2 percent to 10 percent” in the next year.
That suggests Wynk Music currently has around 1.4 million paying users, but wants that to be more like 10 million in a year’s time. Subscriber figures are a rare commodity in India, so this is a useful data point.