Indian streaming service Gaana currently has more than 150 million monthly active users, but its CEO has reiterated ambitious plans for future growth. “As music streaming marketing continues to grow, our goal would be to cross 250 million MAU within this financial year, Prashan Agarwal told news site YourStory.
“Overall, we believe the market for Gaana will grow to around 500 million users in the next three years across music, podcasts, and HotShots” – the latter being Gaana’s recently-launched TikTok-style short-videos app.
With TikTok still banned in India, he suggested that “in the short term, more than 100 million users will try multiple replacement apps for short video content consumption”.
Agarwal also said that “the number of paid subscribers on Gaana grew 3x from FY19 to FY20” – Gaana’s parent company’s financial year ends on 31 March, so the growth he’s referring to was between March 2019 and March 2020. However, Agarwal also admitted that “our paid subscriptions are currently a single-digit percentage of our overall user base”.