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Spotify working on launching in India- says CEO Daniel EK

Within a fortnight of Amazon’s debut in Prime music services in India, the CEO and co-founder of Spotify Daniel EK, during the company’s investor day presentation, revealed that they are planning to launch Spotify in India. He said that India being one of the biggest destination for music industry development, apart from Russia and countries of Africa. The company also stated that they have leased an official space in Mumbai last year. The company has made recent advances in countries like Vietnam, South Africa and Israel.

Presently having 308 employees in total, spread all around the world in 20 different countries including India, Australia, Singapore, Brazil, Turkey, Belgium, Spain and others within its 10-year tenure; they still haven’t revealed about the exact time when they plan on putting this launch to action. There was a previous report stating that Google’s former executive Akshat Harbola has been assigned as the head of operations for Spotify India.

Although for Spotify to launch in India, they need to struggle to stay on the top of the market with Gaana, Saavn, Apple Music, Amazon Prime and the likes of many others. But being responsible for over 71 million subscribers trumping the topmost industries like Apple Music, Spotify has carved its own tracks and should continue doing so to be relevant for users, that might help them gain further audience in the youth population of the country.

Reports say that India’s music industry has shown signs of having its revenue cross over 3100 crores by the end of this decade before the beginning of the next, which is just over a year to go. But to make grounds for thriving in the Indian market, Spotify has to work on making substantial adjustments to its subscription options and costs. There is an expectation of having over 700 million mobile users in India by the dusk of 2018, and it will be a significant impact in the market growth if a small fraction can be turned into paying subscribers for Spotify. Having major footholds in the Western dominating countries of Europe and the USA, it should be an easy job to accomplish.

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