Bharti Airtel is closing down its music streaming service, Wynk Music, after 10 years. Over 100 million Wynk users will soon be offered a free trial of Apple Music. After the trial, they can choose to become paying subscribers of Apple Music.
This move is beneficial for both companies. Airtel struggled to grow its music streaming business due to competition from YouTube, while Apple, which hasn’t gained much traction with its services in India, now has the potential to tap into Wynk’s large user base.
Airtel announced in an internal message to Wynk customers that the platform will no longer exist as a standalone service. The company stated that it has formed a strategic partnership with Apple to achieve a larger global reach.
Wynk is part of Airtel’s digital services and generates around ₹250-₹300 crore annually. In its message to customers, Airtel explained that the decision was made to ensure sustainability, and the 70-80 Wynk employees will be absorbed into Airtel’s broader operations.
Earlier this year, Airtel’s chairman Sunil Mittal acknowledged that the company hadn’t been successful in the music streaming business because Indian users generally prefer free music services. Despite having many users, Wynk’s subscription model didn’t generate much revenue, which led to the decision to close the service.
As part of their partnership, Airtel and Apple will offer exclusive access to Apple Music and Apple TV+ for Airtel mobile users later this year. Wynk Premium users will also receive special offers and access to a larger music catalog on Apple Music.
For Apple, this partnership is a great opportunity to grow its music streaming business in India and increase revenue. Analysts believe that as the number of iPhone users in India grows, Apple will focus on expanding its services in the country. Bundling services like Apple Music and Apple TV+ could help more users experience Apple’s offerings without the need to pay separate subscription fees.
Industry experts also suggest that the increasing use of OTT platforms, Smart TVs, and broadband services in India will create more opportunities for Apple’s services to grow in the long term.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
