Radio Mirchi’s parent company acquires Gaana
By Staff Writer in Media News on Tuesday, 13th August 2024 at 1:09pmEntertainment Network India Limited (ENIL), the parent company of Radio Mirchi, has acquired the music streaming platform Gaana for Rs 25 lakh, according to media reports.
Gaana was previously owned by Times Internet, a subsidiary of the Times Group.
ENIL CEO Yatish Mehrishi discussed the integration of Gaana during a recent earnings call, indicating that the transition will be completed by December 2023. Mehrishi, according to reports from The Financial Express, highlighted that Gaana has shifted to a subscription-based model, with prices rising from Rs 299 to Rs 599, as the earlier pricing structure was deemed unsustainable.
In related news, ENIL reported a domestic revenue of Rs 109.4 crore for Q1 FY25, marking a 19.3% increase year-over-year.
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