For the past couple of weeks, there have been speculations around one of the biggest music streaming services in the world, Spotify launching its services in India. The rumour surfaced after the Swedish giant opened its office in Mumbai.
On Thursday, during Spotify’s Investor Day 2018 presentation in New York, the company’s co-founder and CEO Daniel Ek confirmed the India launch plans by stating, “We are working on launching in some of the biggest markets in the world, places like India, Russia, and Africa which has a very rich musical culture.”
Although Ek didn’t reveal any specific details, according to the details present in the public offering filing, the company reported that it has leased an office in Mumbai and that it has 308 employees in total in Australia, Brazil, India, Singapore and 17 other countries.
Recently, Spotify launched its services in 4 new countries. They are Israel, Romania, South Africa and Vietnam. The Swedish giant also confirmed that it is going public on April 3 via a direct listing method as opposed to the traditional public offering.
Spotify is the only big player which is yet to launch its services in India. Global players such as Apple Music, Google Play Music and Amazon Music have all launched their services in the sub-continent and are competing alongside local players such as Gaana and Saavn.
Will Spotify be able to dominate and conquer the Indian market? Only time will tell.
Stay tuned for further updates.