Popular music streaming service Spotify has finally announced plans to enter the Indian market. At the company’s investor day presentation, the last one it will have as a private organization ahead of its planned IPO, CEO Daniel Elk confirmed the firm’s growing aspirations.
“We are working on launching in some of the biggest markets in the world, including India, Russia, and Africa, which has a very rich musical culture.” While further specifics or a timeline have not been discussed, it is understood that Spotify has begun to put together teams in these countries to make their entry, including India. Rumors have also circulated ahead of this official announcement that the company was looking at office space for lease in India.
While Google Play, Amazon Music, and Apple Music have each entered the Indian market ahead of Spotify, there is no denying what the premier service in the world is. Spotify’s extensive artist library, exclusives, and discovery technology truly sets it apart. It is the default option in most place where it is available.
It will be interesting to see what pricing model the service enters at. Other services have cut subscription prices in India, and Spotify may well do the same with the potential to expand their user base drastically. Spotify also offers a free subscription option which has advertisements and lower user flexibility, so the price-conscious Indian consumer may be drawn away from the premium product. However, this affords Spotify the opportunity to attract advertisers to a potentially massive market who are forced to listen to their spiel.