Indian Music And Movie Streaming Firm Hungama Is Raising $100 Million

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About

Hungama was founded in 2005 as a marketing and communications agency that offered services such as interactive gaming, lead promotion and community building for brands. Eying the growth of mobile, it branched out to entertainment in 2009, and today it is arguably India’s most prominent player in that space. (The original, marketing-focused side of the business was sold to WPP in 2012.)

The total audience for Hungama’s services hit 48 million users in February. Of that figure, a whopping 43 million consumed content on a mobile device, with 13.8 million paying for some form of content across its platform. Hungama’s services were used by 227 million consumers during its last financial year, with around one-third spending money in some way.

Comptetion

The company’s main competitors in the music streaming space in India include Times India-owned Gaana, Saavn — which recently hit 11 million monthly users — and Rdio, whichentered India in January having acquired Dhingana in 2014. There is also operator Airtel’s Wynk service.

 

Read More @ Tech Crunch

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Indian Music And Movie Streaming Firm Hungama Is Raising $100 Million

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