| 02 Feb 2023
Spotify Inc announces global deal with T-Series

MUMBAI: The subscriber base of Spotify is 200 mn globally, making it the leading most streaming services. Given the wide reach and subscriber base, a global deal with the Swedish giant is certainly a major step to enter the global market. India’s leading music label, T-Series has taken that step successfully, as a global tie-up has been announced between Spotify and the Indian label.

This tie-up will ensure access to the library of songs by Indian major to all the Spotify subscribers, giving them an experience of Indian music available on T-Series catalogue, which comprises of Bollywood, folk, regional, devotional. This will also mark a major positive step for Spotify, as the entry of the company in Indian market has been long due. Precisely ten months ago, global CEO, Daniel Ek announced its entry in the Indian Market. Since then, there has been news about them hiring a new management, new office space and talks with various home-grown music labels. A deal with T-Series could prove to be a strategic one for both India as well as the global platform. Considering the wide universe and spectrum owned by T-Series, Spotify will manage to reach the Indian subscribers in the 70 countries where Spotify is already present and with its pending entry in India, presence of devotional and regional music will ensure connecting with the grass root level audience in the country; which is extremely important to be tapped given the large population in rural areas. However, to convert this audience into paid subscribers will be a huge task for the company.

As of now, the content is available today onwards for over 200 mn subscribers out of which approximately 30 million are considered to be Indian subscribers across the world. Post this the entry of Spotify will be awaited in Indian market, which is rumoured to be in the first quarter of 2019.