| 22 Sep 2023
A re-look at the ever buzzing Music Streaming App Industry

MUMBAI: As Microsoft has officially declared that the Groove App will discontinue by the end of this year, a relook at music streaming apps in Indian Market is a must.

Along with creating mayhem in the telecom market, Reliance JIO entered the music streaming app industry and disrupted it too. According to Jana Mobile Majority Report, the company’s collaboration with Saavn for $ 1 billion plus deal, earlier the year in the month of March, gained a significant increase of 1.24 per cent in the market share compared to the one in January this year. This collaboration also ate up Google Play’s share, as the company showed a drop of 1.25 per cent in market during the same period, but is still leading the market, as the user base of Android users overpowers. The company’s music app is being downloaded by 60 odd per cent phone owners, while JioMusic is quantified into a direct figure of subscriber base of a staggering 160 million Jio subscribers.

Gaana, with its backing by Times Internet and Chinese giant Tencent is trying its best to make a remarkable position with a bracket of over 13 languages, has a market share of over 4 per cent.  

The music industry in India is dynamic and the number of streaming apps entering the industry is a proof enough. This is also a result of number of players in the market making a buzz and giving attractive offers and options for the consumers.

The Swedish Giant, Spotify too entered the Indian market making quite some noise, while Amazon music made rather a quite entry.

Apple Music is surprisingly struggling the most despite offering the lowest subscription rates in India, compared to what the company offers across the world. One of the prime reasons being, India is a predominantly Android loving country and Apple products though much admired, holds a better consumer base in a niche audience. Handheld penetration in the grass root level, considered to be the largest in India, is mostly by non-Apple products. Also, limited or no options for regional music could also be a factor to be a not so preferred option.

There are options like Airtel’s WYNK, Shazam, and Hungama that have their foothold in the market too.

A Deloitte report valued the Indian Music sector at $180 million currently and shows a potential to rise in valuation of $270 Million in next two years. This prediction is a precursor to a market consolidation. With multiple independent apps and telecom connected apps, the market is as dynamic as it could get.