JioSaavn and Gaana cut Annual Subscription Rates by 70 percent to compete against Spotify and YouTube Music
Spotify, one of the most popular music streaming services in the world, officially launched its services in India in February this year. After being highly anticipated and creating a stir, the music streaming service got another major player, YouTube, to launch their Music streaming service, YouTube Music, in the country as well. Before the launch of both these services, JioSaavn and Gaana have been at the top of the music streaming business. And now with the competition getting steep, both JioSaavn and Gaana have slashed their annual subscription rates by ~70 percent.
Spotify and YouTube Music, both managed to grab huge attention of the majority of music streaming app users with lucrative offers and a competitive price, when compared to JioSaavn and Gaana. Which, obviously, would in-turn turn the subscription base upside down for both these old players. And hence the move to cut down annual subscription prices. To give you a background, Spotify offers an annual subscription service for a price of Rs 1189 and a monthly subscription for Rs 129. On the other hand, YouTube Music only offers a monthly subscription plan as of now, coming in at Rs 99.
This, when put in comparison with the subscription plans of JioSaavn and Gaana, seem to be surreal. With 70 percent cut in subscription prices, the new subscription from JioSaavn plan costs Rs 299 per year, whereas, the one offered by Gaana, also costs Rs 299 per year, down from Rs 1189. Additionally, Gaana also offers a special Students’ Pack that just costs Rs 148. Users who do not wish to opt for an annual subscription can also subscribe to both the services monthly, at a price of Rs 99. Gaana is also offering a quarterly subscription to the users, for a price of Rs 199, which is missing on JioSaavn.
With a price cut in the monthly and annual subscription on both JioSaavn and Gaana, the competition has gotten stiff again. And the competition, primarily Spotify, seems way too much on the costlier side, with its Rs 129 per month and Rs 1189 per year subscription plans. So, it will be interesting to see how people react to this cut in prices and also how the competition reacts (if it plans to).