Music streaming site Guvera vows to retain ad funded model as it launches into India

Australian music streaming business Guvera has expanded to 13 countries following its launch into India as it revealed more brands are about to come on board in the local market.

Youth holiday operator Contiki and fashion website The Iconic will begin to advertise next week, with Guvera founder and chief executive Darren Herft confirming the company will continue with its solely ad funded model.

Speaking at a Guvera event yesterday Herft said consumers are increasingly demanding free access to music rather than paying monthly subscriptions.

“In 2000 the music industry turned over US$36b, last year it was $16b, so its gone backwards by $US20b despite people consuming more music than ever before,” he said. “That drop is largely because people want to access music for free and Guvera is about giving consumers what they want, so let’s provide them a business model that provides them with what they want.”