New Delhi: Music streaming provider Spotify these days introduced that it has renewed a world licensing contract with Warner Music Group. “Spotify and Warner Music Group are happy to announce a renewed world licensing partnership. This expanded deal covers nations the place Spotify is to be had these days, in addition to further markets,” the corporate mentioned in a commentary.
The corporate had lately signed a licensing settlement with Warner Chappell, a publishing arm for Warner Music. The deal improves Spotify’s music library in nations like India, making it extra aggressive towards Apple Music and different streaming services and products.
Losing the licence had taken well-liked songs off Spotify’s library, one thing many customers have complained about. It took the corporate a complete yr to mend the issues, but it surely way artists like Cardi B, Bruno Mars, Ed Sheeran, Coldplay, Linkin Park and so on. will now be to be had on Spotify in India.
The music streaming provider lately reported, in its This autumn 2019 income name, that it has registered a 31% enlargement in per month lively customers on a year-over-year foundation. The corporate mentioned it had 124 million paid subscribers, a 29% build up in comparison to closing yr.
In the Indian marketplace although, Spotify faces festival from no longer best world massive Apple with Apple Music, it additionally has to contend with native avid gamers like Gaana and JioSaavn. In reality, Gaana lately claimed that it has 150 million customers in the sector, which might make it one of the vital well-liked streaming services and products international. Spotify closing reported that it has 2 million MAUs in the primary quarter of 2019.
The music streaming marketplace in India is alleged to be price over $150 million at this time and has been rising incessantly because of the proliferation of prime pace cell Internet in the rustic. Market analysis company TechSci Research has estimated that the Indian marketplace will achieve over $400 million by way of 2023.