Gaana plays catch-up after a two year break; rolls out new campaign
After a hiatus of almost two years, audio streaming company Gaana has rolled out a marketing campaign to promote its new feature AutoQueue. The new feature is based on the research the company conducted which showed that consumers wanted a listening experience that is effortless and fast. “AutoQueue is about a journey where the platform will read the users’ mind and play a song for them. It is powered by a unique machine learning algorithm and aims to hyper-personalise each user’s app experience. Our listeners are consuming over 30% more music than usual via Autoqueue,” Sandeep Lodha, CEO, Gaana, said to BrandWagon Online in an exclusive interview.
The company has planned a 360-degree marketing campaign to spread awareness about the new feature as well as to expand its userbase. With television taking the lead, Lodha claims that nearly 60% of the marketing budget for this campaign has been diverted towards TV while the remaining 40% has been split between radio, print and digital mediums. Further, the company aims to launch bigger campaigns in the months to come.
Furthermore, the platform claims to have seen a rise in advertising revenue as more and more brands have come on board wanting to explore the medium. “We are seeing more traction from advertisers given the growth of audio streaming and the demographic/contextual targeting Gaana offers, allowing us to command a premium price,” Lodha highlighted. According to Lodha, the number of advertisements on Gaana have gone up– driven by a strong advertising demand from big tech companies such as Amazon, Google, Apple, LinkedIn, among others. Interestingly, the platform has seen approximately 20% rise in paid subscriber base however it still remains a small part of the overall business. Currently, advertising revenue accounts for nearly 70-75% of overall revenue while the rest 25-30% comes from subscriptions. With ad revenue witnessing a rise, Gaana expects its revenue to continue to maintain its 15-20% y-o-y growth chart. While still in an investment phase, the company currently has a userbase of 180 million and expects this to touch 500 million in the next three years.
Check the source here –Source, Financial Express.