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Sunday
May 2020
8:21 PM IST
News Headlines
As Lockdown-4 ends, home ministry issues guidelines for ''Unlock-1'' from June 8        COVID-19 tally in Kerala rises to 1,208, 7 Pilots and cabin crew, among 58 infected        Locusts in TN local grasshopper species, pose no threat, says govt        Delhi-Moscow AI flight returns midway after pilot found COVID-19 positive        People suffered most, faced unbearable hardships under Modi rule: Gehlot        Protests over George Floyd death overwhelm US authorities again        ''very saddened'' by what happened to the relationship with China: Trump        Federer tops world''s highest-earning athletes        Kerala reports 1 death, 62 new COVID cases, 10 recoveries, 577 patients under treatment: CM        France reports 52 new Coronavirus deaths        Death toll from COVID-19 in Brazil rises by 1,124 to 27,878 People        Death toll from COVID-19 in Brazil rises by 1,124 to 27,878 People        CA says "very high risk" of T20 WC being postponed, bracing up for losses        Sonia launches speak up campaign to help raise voice of poor        No fare either by train or bus shall be charged from any migrant worker:SC; Centre says 91 lakh migrants ferried by trains, buses        Saudi Arabia registers 1,644 new COVID-19 cases        Coronavirus deaths in US top 100,000; Trump sympathises with families of the victims        ICC defers fate of T20 World Cup till June 10 over confidentiality issue        'Preparations are ongoing for the event': ICC denies report of postponing T20 World Cup        Patanjali''s plea for Ayurvedic medicine trials raises eyebrows        
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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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KERALA NEWS
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INTERNATIONAL NEWS
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