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Friday
October 2019
11:33 PM IST
News Headlines
Mentally-unstable man jumps inside lion enclosure in Delhi zoo, escapes unhurt        BSF jawan killed, 1 injured in firing by Bangladeshi troops along border in West Bengal        At least 35 people killed in bus accident in western Saudi Arabia        UK, EU hail new Brexit deal, but Parliament sign-off hangs in balance        Nearly 100 people injured in Catalonia unrest on Wednesday: Medics        Indo-Pak bilateral ties subject to approval from PMs of both countries: Ganguly        Aiden Markram ruled out of Ranchi Test with wrist injury        Indian challenge ends at Denmark Open        Aussie cricketer Watson apologies for 'illicit' social media posts        India's performance was no match to atmosphere at Salt Lake: Chhetri        High-level Indian, Bangladeshi delegations to meet next week        Adani Wilmar launches ready-to-cook ''Khichdi''        US House passes Hong Kong 'Democracy Act'        India halved its poverty rate since 1990s: World Bank        Senior Odisha BJP leader Damodar Rout quits party        Play school security guard arrested for sexually harassing toddler        What craziness has taken over UP govt: Priyanka on decision to remove home guards        Crime branch freezes Rs 18 crore in Maradu flat builders accounts        ODI rankings: Injured Smriti Mandhana loses number one spot        Indian cricket will continue to prosper under Ganguly undoubtedly: Laxman        
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Business News
Gaana looking to break-even in next 4-5 years
 
New Delhi: Music app Gaana expects to achieve break-even in the next 4-5 years with 100 per cent year-on-year revenue growth and traction of paid users on its platform.

The company is also planning to invest in non-music genre to increase the engagement time of users on the platform.

Industry will become profitable when 50 per cent of Indian people start using streaming apps, and 'paid music' as a model becomes the norm, Gaana CEO Prashan Agarwal told PTI.

"Our revenue have been growing 100 per cent year-on-year. We expect to reach break-even at this rate in next 4-5 years," he added.

The Times Internet Group firm expects to double the number of monthly active users on its platform to 200 million in the next two years representing around 50 per cent share of the overall market.

"In next 3-4 years, we expect 500-600 million users will start using music app out of which we expect 30 million to start paying for music. This will take music streaming segment towards healthy profits. We will maintain our share of over 50 per cent in this kind of market as well," Agarwal said.

The company raised USD 115 million last year, which includes USD 100 million from Chinese company Tencent and USD 15 million from Times Internet.

Besides music, Gaana is now expanding non-music content to enhance user engagement.

"We are basically focussing on content from motivational speakers, meditation, workouts, comedy and story telling. This will enhance engagement of users on our platform," Agarwal said.

Gaana has also partnered with Google Playstore to launch an instant app for listeners who want to experience the app without actually downloading it.

"This feature is targeted towards the next 100 million users coming online. We have registered a 5 per cent surge in app installs per day as more people are realising the convenience of being able to listen to their favourite songs anytime anywhere even before they download our app," Agarwal said.


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INTERNATIONAL NEWS
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NATIONAL NEWS
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