Thursday, April 6, 2017

Google Play Music launches in India, undercuts Apple | Music Business Worldwide

Google Play Music has entered the streaming race in India, undercutting Apple Music in the territory with a discount subscription price.

Google is offering users its streaming service and radio stations for an initial discounted price of Rs 89 per month ($1.4) for those that sign up within 45 days, reports the India Times.

After that, the full Rs 99 ($1.5) price tier kicks in.

It’s cheaper than Apple Music which charges Rs 120 ($1.8) per month. Apple’s streaming service arrived in India in July 2015, where Spotify has yet to launch.

Google’s price tier is the same as that of already established services Gaana, Saavn and Hungama.

A variety of music is being offered within its library, which includes 40 million tracks spanning multiple languages like Hindi, English, Tamil and more.

There’s few figures available on the value of India’s music industry although it’s considered to be an untapped market that could hold a wealth of potential as mobile data connectivity improves.

The IFPI’s Recording Industry in Numbers 2015 pins India’s 2014 industry revenues at 6.1bn Rupees ($100m).

Download revenues decreased 24.8% in India in 2014, and – in a reversal of the business story in most global markets – subscription streaming income for the music business was almost cut in half, down 42% from US $21.4m to $12.3m.

There appears to have been at least some migration from these paid-for platforms to free streaming services, which were up 108.1% in value terms in 2014 according to the IFPI, to $22.72m.

However, a report from KPMG suggested India’s recorded music business will nearly double over the next five years, bringing in an annual income of 18.9bn Indian Rupee (US $300m) in 2019.

Music Business Worldwide


No comments: