Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by registering here.
Hi there,
Friends, Romans, and countrymen: Pretty much everyone I know is either making a podcast, associated with one, or hawking one with relentless passion.
Not that I’m complaining, as I stare down an ever-growing list of podcast recommendations on everything from science to true crime.
So it’s no surprise that India, my home base, is among the top 10 engagement markets for Spotify. The Swedish audio-streaming site says that it has more than doubled its premium subscriber base in India in 2021.
Subscriptions aside, advertising reportedly forms just 15% of Spotify’s overall revenue. But India and Indonesia are among the few countries that see advertising as a larger share.
And while Spotify has a number of audio-streaming services to compete with in India, a rising competitor in Indonesia is likely to give the audio goliath a run for the top spot.
Armed with podcasts, audiobooks, and livestreaming, Jakarta-based Noice’s hyperlocal approach can give it a leg up in what continues to be a fragmented market. But this advantage could be short-lived as Spotify continues to do what it has done before: get the best podcasters on its side, reports my colleague Shadine in the Big Story. The battle for Indonesia’s airwaves has only just begun.
That said, can food and drink be far behind when there’s an abundance of music and conversations?
Recent developments indicate that big bets are at play as the dining out and ordering-in scene in India and Southeast Asia buck the trend of recession-induced caution as startups and their investors double down. More on this under Making Waves.
— Nikita
THE BIG STORY
A Gojek-backed firm’s rise as Spotify’s rival
Image credit: Timmy Loen
Audio platform Noice is in the right place at the right time. But can it take on an ambitious international goliath in Indonesia’s podcast space?
MAKING WAVES
NEWS YOU SHOULD KNOW
FYI
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
