Keeping the growing competition in the Indian music streaming industry in mind, Apple Music has announced a cut in its pricing. The company’s individual plan in India is now 99 rupees per month, versus the 120 rupees per month it was previously. The Individual plan is now at par with YouTube Music Premium, Gaana Plus, Wynk, and JioSaavn Pro. In addition, the price for the Apple Music student plan dropped from 60 rupees per month to 49 rupees; and the Family Plan is now 149 rupees per month versus the 190 rupees per month it was before the price cuts. The new, lower prices are available to both existing subscribers and new customers.
The price war in the Indian streaming market is on, JioSaavn and Gaana had earlier slashed their annual subscription prices by 70 percent. Those cuts were focused on locking down customers for a year. To counter this, Apple Music has now made its subscription more affordable.
With the revised plans, Apple Music will now be cheaper than Swedish audio streaming platform, Spotify.
With the world’s second-largest smartphone market and falling data rates, India is a crucial market for the music streaming industry. The number of online music listeners is expected to grow to 273 million by March 2020. According to the FICCI report 2019, the continuous growth of digital infrastructure has paved the way for a 50% growth in audio streaming to 150 million listeners in 2018.
The music-streaming service is still expensive compared to services provided by local services like Jio Saavn, Gaana, etc. Both these companies charge Rs 299 for a yearly subscription, which is far cheaper than their international competitors.
Apple charges the premium for its music services which comprises of an extensive audio library including Indian and international music. But the app lacks personalisation and has a smaller regional music library as compared to its local competitors.
With Spotify, YouTube Music, and now (a cheaper) AppleMusic – the subscribers surely are not complaining.