Apple Music is one of the largest streaming platform used by users worldwide especially in India. Few days ago, JioSaavn and Gaana cuts the price of its local streaming services. Especially, JioSaavn cuts its annual price by 70% and then followed by Gaana too. Now, Apple is slashing the monthly subscription fee from 120 rupees (RM7.09) to 99 rupees (RM5.85) per month.
The main root cause for the price cut is due to the launch of Spotify and YouTube Music launch in India. One of the most popular India music streaming platform is JioSaavn and Gaana. Both of these platforms has more than ten millions users.
At first, JioSaavn drops its annual subscription fee from 999 rupees (RM59.00) to 299 rupees (RM17.66). It seems the promotion which was done by JioSaavn only reached certain user groups only. Besides that, Gaana also did its own promotion by slashing its annual fee subscription price from 1,098 (RM64.87) rupees to 299 rupees (RM17.66) which is the same as JioSaavn annual subscription fee.
In conclusion, as India is growing to be one of the largest countries uses music streaming services with the current price slashes of music streaming service its market is going to grow upwards.