Music app Gaana reaches 150 mn monthly active users
The company had achieved 100 million active users (MAUs) in April last year and has set a target to reach 200 million MAUs by mid-2021.
"Touching the 150 million users milestone is a testimony to the efforts of our incredible team and our vision to bring the most intuitive and immersive musical experience to our users. This achievement will offer us a stronger motivation to leverage our proprietary AI-driven algorithms and newly launched features in newer ways at greater scale," Gaana CEO Prashan Agarwal said in a statement.
The company said the growth in MAUs came on account of 40 per cent growth in regional music consumption and 35 per cent growth in Bollywood music consumption.
The sector has seen three times growth in the past two years, and the market is expected to be 400 million monthly active users in the next 2 years, the statement said.
"Gaana's vast 45 million songs-strong music library across bollywood, international and 30 Indic languages and newly launched 3,000 strong podcast library including 'Gaana Podcast Originals' featuring youth icons hold great promise for sustained organic growth in 2020," Agarwal said. PRS RVK