Music streaming

International music streaming app Moodagent is coming to India

NEW DELHI : Moodagent, a music streaming service based in Copenhagen, Denmark, has launched in India, following its success in countries like Germany and Australia. Currently broadcasting only international music, the service says it plans to acquire a catalog in several Indian languages ​​in the coming months.

“We see India as a huge market, where there are billions of music lovers. However, we are now entering because of what we believe is our specialization in technology which, powered by AI (artificial intelligence), helps make the right recommendations to users and understand their mood and choice,” said Jyoti Handa, Executive Vice President and General Manager. The director of Moodagent India. Handa said the company plans to partner with Indian music labels for film and non-film music in the coming months. The service, which is currently available on Apple and Google Play Store, and Mi Store and Huawei App Gallery, is priced at 119 per month.

According to the Ficci EY Media and Entertainment Industry Report released in March this year, the Indian music segment was valued at 1,530 crores in 2020. Streaming apps have a base of around 200 million monthly active users, but the paid subscriber base is still around 2 million. Piracy continues to be the biggest challenge plaguing the music ecosystem, dealing a 67% hit to revenue. Paid OTT music subscribers are expected to surpass 5 million by 2023 and generate revenue of 180 crores.

The Indian audio streaming market is dominated by Gaana, the streaming service owned by Times Internet Ltd, with a 30% share, followed by JioSaavn (24%), Wynk Music (15%), Spotify (15%), Google Play Music (10%), and others (7%), according to a study carried out by Kantar and the audience measurement and analysis company VTION last January.

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