Spotify Technology SA, the world’s most popular paid music streaming service, said it racked up more than 1 million unique users in India across its free and premium tiers since launching less than a week ago.
Spotify launched in India on Tuesday, stepping into a price-sensitive market crowded by well-funded players such as Reliance Industries’ JioSaavn and Apple’s Apple Music.
Spotify listing could be roller coaster for retail investors
The Swedish company is offering a free version that will run with ads, alongside a premium ad-free variant that will charge users 119 Indian rupees ($1.68) per month.
India, with a population of 1.3 billion and more than 400 million smartphone users, is a potentially huge market for the Swedish company.
Spotify plans to list shares, fend off Apple and Amazon
According to media reports, Tencent-backed Gaana leads the Indian streaming market with over 80 million monthly users. Spotify has 207 million monthly active users globally and 96 million subscribers.
In India, the streaming service also competes with other players including Amazon’s Prime Music, Alphabet’s Google Play Music, and Xiaomi-backed Hungama.