There are over 15 plans, including mobileonly, annual, mini, weekly, and daily plans-and India is the only country to have such a differentiated offering. Gyllenhammar’s strategy of being both accessible and aspirational is evident in Spotify’s freemium service which is a combination of free (supported by ads) and premium (or fully paid by the subscribers) as well as in a variety of subscription packs for different sets of audiences. our forecast, driven by successful marketing campaigns.” In its latest letter to shareholders, Spotify said, “In Q4, we added 25 million MAUs (monthly active users) and benefited from faster growth in India, the U.S., and Western Europe, with India serving as a notable source of upside vs. These are Hindi, Gujarati, Bhojpuri, Kannada, Malayalam, Marathi, Odia, Punjabi, Tamil, Telugu, Urdu, and Bengali. Consider that of the 36 new languages that it recently launched in, 12 are Indian. So as with all the other markets that it operates in-including the 80 new markets it plans to enter this year-Spotify put localisation at the core of its strategy to make headway in a short span of time. There were already a lot of local as well as global players but we needed to provide something that was more global than the local players as well as more local than the global players.” As Gustav Gyllenhammar, vice president, markets and subscriber growth at Spotify Worldwide, puts it: “We knew that we needed to provide something differentiated and really tailored to the market in order to win. The “homework” the company had done before launching in India has paid off. We’re educating people about streaming and that is something nobody invested enough in while the market was expanding.”
“We’ve learnt that what we thought was a mature market.
“I would call it the late mover advantage because we’ve been able to see what’s working and what’s not,” he points out. But the late entry has proved to be “more of a boon”, says Spotify’s India MD Amarjit Singh Batra. In fact, by the time Spotify entered the country in February 2019, Indians had already warmed up to music streaming services like JioSaavn, Wynk, and Gaana. What is more remarkable is that it has achieved this in just two years. In the Indian market, too, which has around 10 players, Spotify has managed to hold the third spot behind Gaana and JioSaavn, according to a Kantar-Vtion study. Since it was set up in 2006 by entrepreneurs Daniel Ek and Martin Lorentzon to combat the growing problem of piracy in the music industry, it has grown to become the leading player in the global streaming industry, with 345 million users and 155 million paying subscribers across 178 markets.
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