Published on December 5th, 2012 | by Alan Cross0
iTunes Launches in India. This is a Big Deal.
Yesterday, iTunes launched stores in more than 50 new countries, including India, the second-largest country by population on the planet. What’s interesting is the pricing structure.
Domestic tracks run 7 to 15 rupees (that’s 12 to 27 cents) while most domestic albums cost 70 rupees (about $1.20). Movies can be purchased from 290 to 490 rupees ($5.30-$9.00) while Bollywood titles can be rented for 80 rupees ($1.30-ish).
Cheap, yes, but market forces are in play. Apple has elected to go with prices that reflect the local economic conditions and the purchasing power of the 150 million Internet users in the country.
From the Hollywood Reporter:
India has an estimated 150 million Internet users with over 900 million mobile users, the second largest mobile market in the world after China. “The real growth for iTunes should happen in India’s expanding mobile-internet space where users are increasingly accessing online services via all kinds of mobile devices, from phones to tablets,” said Indian label Times Music CEO Mandar Thakur, adding, “Apple hardware such as the iPhone and iPad are gaining brand loyalty here and this will increase further with iTunes.”
iTunes is also expected to be a strong competitor to local services such as Flyte, Gaana.com and Saavn.