With more than 65 million users a month, Gaana is one of the biggest internet-based music platforms in the market which showcases music content of leading Bollywood movies. Our association with Salman Khan starrer Race 3 is a big step towards bringing industry first content to our discerning customers. - Prashan Agarwal CEO GaanaGaana's primary focus on Bollywood music has made them one of the biggest players in the music streaming space and with this space they are expected to rake in 100 million listeners onto their music streaming platform. This makes Gaana the most preferred destination for all the big production houses in the film industry to launch and promote their music and films. In a market like India, Gaana are catering to the majority listener base of Bollywood music and rightfully reaping in the numbers. With a global revolution of music streaming taking place and an increase in the number of music streaming services, Gaana has moved one step ahead in India and is expected to leap exponentially in the coming years. As of 2017 streaming music contributed 10% to the total mobile internet usage in India. With a decrease in tariff rates and ever increasing mobile internet users the volume of listeners on streaming sites will grow rapidly. This acceleration will take place over the next 2 years once the general idea of paying for content spreads throughout the country.
The transaction, which is subject to regulatory approvals, is expected to close in the second half of 2025.
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