Gaana looking to breakeven in next 45 years

first_imgNew Delhi: Music app Gaana expects to achieve break-even in the next 4-5 years with 100 per cent year-on-year revenue growth and traction of paid users on its platform. The company is also planning to invest in non-music genre to increase the engagement time of users on the platform. Industry will become profitable when 50 per cent of Indian people start using streaming apps, and ‘paid music’ as a model becomes the norm, Gaana CEO Prashan Agarwal told PTI. Also Read – Thermal coal import may surpass 200 MT this fiscal “Our revenue have been growing 100 per cent year-on-year. We expect to reach break-even at this rate in next 4-5 years,” he added. The Times Internet Group firm expects to double the number of monthly active users on its platform to 200 million in the next two years representing around 50 per cent share of the overall market. “In next 3-4 years, we expect 500-600 million users will start using music app out of which we expect 30 million to start paying for music. This will take music streaming segment towards healthy profits. We will maintain our share of over 50 per cent in this kind of market as well,” Agarwal said. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boost The company raised USD 115 million last year, which includes USD 100 million from Chinese company Tencent and USD 15 million from Times Internet. Besides music, Gaana is now expanding non-music content to enhance user engagement. “We are basically focussing on content from motivational speakers, meditation, workouts, comedy and story telling. This will enhance engagement of users on our platform,” Agarwal said. Gaana has also partnered with Google Playstore to launch an instant app for listeners who want to experience the app without actually downloading it. “This feature is targeted towards the next 100 million users coming online. We have registered a 5 per cent surge in app installs per day as more people are realising the convenience of being able to listen to their favourite songs anytime anywhere even before they download our app,” Agarwal said.last_img read more

Fewer than half of Canadians hold optimistic open view of the world

first_imgOTTAWA – Canada’s reputation as a nation with an open and optimistic world view that flies in the face of rising pessimism and nationalism elsewhere is being challenged by new research.Fewer than half of Canadians appear on the “open” side of an index devised by EKOS Research and The Canadian Press to gauge populist sentiment here.The remainder either have a closed-off view of the world or are on the fence — a potentially volatile swing group.The research aggregated polls involving 12,604 people to explore to what extent Canadians’ views are in line with voters who backed two of the most surprising manifestations of 21st century populism in recent years — Donald Trump’s campaign for U-S president and the exit of Britain from the European Union.Both were understood to be the results of rising discontent among those sideswiped by technological, cultural and economic transformation and seeking to regain some measure of control by eschewing the political status quo in favour of a dramatic new approach.Whether Canada could be facing a similar issue has been a question ever since.The results of the study suggest 46 per cent of Canadians are open-minded towards the world and each other, with the highest numbers found in B-C and the Atlantic provinces.But 30 per cent report feeling economically and culturally insecure, a sentiment found in the largest numbers in Alberta and Saskatchewan.The remainder — roughly 25 per cent — have a mixed view.To gauge where Canadians sit, EKOS Research and The Canadian Press aggregated responses to questions posed in two telephone polls between June and December about people’s perceptions of their economic outlook, class mobility, ethnic fluency and tolerance. Pollsters also asked whether they believed such movements were good or not.The results were in turn plotted on a spectrum from “open” to “ordered” — a new way of classifying people’s political viewpoints that goes beyond the traditional right-versus-left.The telephone polls had a margin of error of 0.9 per cent, 19 times out of 20.—last_img read more