One of the highest rated and world’s top music streaming service, Spotify, is finally headed to India. This comes as a breather for many who are unable to use the services of the music streaming application in the country. During an event called ‘Investor Day’ that was held in New York where CEO of Spotify, Daniel Ek announced he will be expanding the footprint of the music streaming service to various countries including India.
Musically.com reports Spotify co-founder Daniel Ek as saying: “We’re working on launching in some of the biggest markets in the world like India, Russia, and Africa.” This is the first time when the CEO of Spotify has acknowledged that they want to expand in a market like India. As of now, Spotify is operational in 65 countries across the world. The music streaming application has over 159 million users which include 71 million premium subscribers.
On March 13, Spotify was launched in markets such as South Africa, Vietnam, Israel and Romania.
When the company will start their operations in the country is not yet known. When Spotify filed its IPO last month, they noted that they had operations in 21 countries including India and has over 308 employees. A former Google executive, Akshat Harbola is at present the head of Spotify India.
Spotify will go public on April 3.
In India, Spotify will have a stiff competition as there are many renowned players in the market looking to find the top spot. While foreign players like Apple Music is a known name in the market, the new entrant Amazon Music has got its fair share of liking in India. Spotify will also face a tough competition from local players like Gaana and Saavn.