Radio Mirchi's Parent Company Acquires Gaana for Rs 25 Lakh
Radio Mirchi's Parent ENIL Acquires Gaana for Rs 25 Lakh, Integrates Streaming Service with New Subscription Model at Rs 599
Sumit Rawat
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Radio Mirchi’s parent company, Entertainment Network India Limited (ENIL), has acquired Gaana, a popular music streaming platform, for Rs 25 lakh, according to media reports. Gaana was previously owned by Times Internet, a subsidiary of the Times Group.
During a recent earnings call, ENIL's CEO, Yatish Mehrishi, discussed the integration of Gaana, which took place in December 2023. He noted that Gaana has now transitioned to a subscription-based model, with the pricing adjusted from Rs 299 to Rs 599 due to the previous rate's infeasibility.
ENIL reported a 19.3% year-over-year increase in domestic revenues for Q1 FY25, reaching Rs 109.4 crore.
