[ad_1]
Over the past few days, users of music streaming platform Spotify have noticed hours of playlists being deleted. The music-streaming giant has removed Zee Music tracks from its app and browser site after negotiations to renew its licensing agreement failed.
This has deprived Indian users of several popular songs, such as Apna Bana Le by Bhediya (2022), the number one song on Spotify India over the past two weeks.
In fact, Spotify’s India Daily Top 200 Songs chart contains about 15 Zee Music tracks — Jersey’s Maiyya Mainu (2022), the films Kalank (2019) and Pal Pal Dil Ke Paas (2019). )’s successful music albums, Drive’s Makhna (2019), Baar Baar Dekho’s (2016)’s Kala Chashma, Raees’ (2017)’s Zaalima — until they become unavailable to listeners on Wednesday and a new deal is signed.
Spotify has 500 million monthly active users worldwide (as of February 2023), but its Indian user base is less clear.
“I wasted 3 hours on a Hindi music playlist on Spotify. Thankfully I had almost the same playlist on Gaana.com and I am listening to it until I find a solution,” said a user. told Business Standard.
So what does this mean for Zee and Spotify in terms of revenue impact? Experts believe the delay will not have a significant impact on Zee Music. SVP Elara Capital Karan Taurani explains: We can estimate that Zee Music earns almost 10-15% revenue from platforms like Spotify. ” Most music companies such as Zee diversify their digital services across their platforms. YouTube often holds the largest share. “So his one platform, like Spotify, would account for nearly 10% of Zee’s revenue.”
An employee at a major music-streaming company told Business Standard that the company still struggles to cater to musical tastes in the Indian subcontinent, unlike in the West, where Spotify dominates the music-streaming market. .
Spotify entered India in 2019, but by then other companies had taken the lead. “Spotify competitors such as Gaana and JioSaavn not only have more extensive Indian playlists, but their search results are also more sensitive to the tastes of Indian audiences. Searching for hits will not list his songs in order of popularity, Ye Kaali Kaali Ankhein and Kal Ho Na Ho are deep in the playlist and may be mixed with his lesser known songs. The employee also said this is mainly because Spotify’s algorithms need more usage data about Indian music in order to better tailor these searches. .
Data from JioSaavn shows over 100 million monthly active users, while Gaana claims to have over 185 million monthly active users in 2020. Where Indians can get music for free. Zee Music has nearly 94 million YouTube subscribers.
Last year, the music company ended its relationship with Gaana, months before the audio streaming platform became a subscription-only service.
Spotify India, on the other hand, is trying to break out of the almost 50:50 revenue mix between subscriptions and advertising and lean towards the former with India-specific offers such as mini-subscription plans.
Globally, Spotify is the leading audio streaming service with 489 million users and 205 million premium subscribers in 180 territories. Last year, the growth of the music platform in India, Southeast Asia and Latin America helped him surpass his 450 million global users for the quarter ending September 2022.
This rapid growth may hit the pause button as the majority of Indian hits are not on the playlist.
[ad_2]
Source link