Music app Gaana reaches 150 M monthly active users
Music appon Monday claimed to have reached 150 million monthly active users (MAUs) on account of growth in consumption of regional and Bollywood music.
The company had achieved 100 MAUs in April last year and has set a target to reach 200 million MAUs by mid-2021.
"Touching the 150 million users milestone is a testimony to the efforts of our incredible team and our vision to bring the most intuitive and immersive musical experience to our users. This achievement will offer us a stronger motivation to leverage our proprietary AI-driven algorithms and newly launched features in newer ways at greater scale," Gaana CEO Prashan Agarwal said in a statement.
The company said the growth in MAUs came on account of 40 percent growth in regional music consumption and 35 percent growth in Bollywood music consumption.
The sector has seen 3X growth in the past two years, and the market is expected to have 400 million monthly active users in the next two years, the statement said.
"Gaana's vast 45 million songs-strong music library across Bollywood, international, 30 Indic languages, and newly launched 3,000 strong podcast library including 'Gaana Podcast Originals', featuring youth icons hold great promise for sustained organic growth in 2020," Agarwal said.
Gaana leads the market, not just by users but also in terms of popularity. A report by CyberMedia Research in August 2019 revealed that the company has surpassed even global names like Apple Music and YouTube when it comes to brand recall.
Earlier in August 2019, in an exclusive interaction with YourStory, Gaana CEO Prashan Agarwal said the platform’s “paid subscriptions have grown more than 3X last year”.
Additionally, revenues are growing 100 percent year-on-year, and original programming has crossed 220 million streams.
Gaana has also partnered with Google Playstore to launch an instant app for listeners who want to experience the app without actually downloading it.
(Edited by Suman Singh)