According to reports, Spotify could be launching in as many as 13 new markets and after months of anticipation, India could finally be one of the markets.
Having made an announcement in March when it opened for public listing and opened an office in Mumbai with 300 employees, anticipation has been building ever since about the official launch of the streaming platform and its services, in India.
According to sources, Spotify has secured deals with many of the major rights holders in India over the past few months, this gearing to enter the country of 1.3 billion people. Spotify Technology SA is preparing to introduce its service in India as soon as the first quarter of 2019.
Spotify, reportedly has about 83 million paid subscribers, having become operational in 2008. Having launched its new services in the MENA region recently, Spotify seems to have embarked on its expansion plan, which could see India be a part of it within the first half of next year.
The expansion intends to cover customers in what it calls the “rest of world” markets — a group that spans from Australia and Japan to Israel and South Africa. Though Spotify is the largest paid streaming service globally, it is largely limited to three regions: North America, Latin America, and Europe as of now. Accounting for less than a third of the world’s population, those areas contribute more than 90% of Spotify’s paying customers.
India is one of the fastest-growing music markets and hence, it definitely makes sense having the country as part of its expansion plans.
Can’t wait to see if those reports are true! Till then, follow us and check out our playlists on Spotify.
H/T: ET and Financial Express
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