Chennai: Music streaming app Gaana expects to have over 200 million subscribers in the next two years on its platform, a top company official has said.
The app has 80 million monthly active users at present and streams over 2.2 billion songs every month. The music streaming market is estimated to have 150 million users now, which is expected to expand to over 400 million over the next two-three years.
“In the next two years, we think the market will grow from 150 million users to over 400 million users and we would like to lead the market with over 50 percent market share,” Gaana, chief executive, Prashan Agarwal has said.
With a content library of 30 million songs across 26 languages, most of its customers are free customers now, while the paid subscriber base, though growing at 100 per cent, is in lower single digit only. He further said Gaana, launched in 2010, is still in investment and growth mode and it will take time for them to be profitable.
Agarwal said voice search is consumed by 22 per cent users now, and is expected to cross 50 per cent in the next two years.