Airtel Shuts Down Streaming Service Wynk Music, To Offer Apple Music At Discounted Rates
Date
8/28/2024 3:26:36 AM
(MENAFN- AsiaNet News) Airtel will soon shut down its Wynk music app and partner with Apple to provide customers with music and video content.
Later this year, the Telecom behemoth will provide its Indian consumers access to exclusive deals for Apple TV+ and Apple Music products.
"We can confirm that we will sunset Wynk Music and all Wynk Music employees will be absorbed within the Airtel ecosystem," a spokesperson told news agency PTI soon after the company announced a strategic partnership with Apple.
Users subscribed to Airtel's music streaming service, Wynk Premium, will now gain access to special offers on Apple Music.
"Airtel is planning to close Wynk Music in the next couple of months. It will absorb all the employees into the company," said another source.
The Wynk Music app was launched by Airtel, a decade ago, in 2014. It has an estimated subscriber count of over 100 million as of now.
Wynk is part of Airtel's digital services business and generates approximately Rs 250 to Rs 300 crore in annual revenue for the telecom company.
Under the terms of the new agreement, Apple TV+ will be incorporated into Xstream, Airtel's video streaming service, which is accessible with premium membership levels. Airtel has not yet made public the partnership's financial conditions or the plan prices, though.
Airtel's statement coincides with Disney and Reliance's request for antitrust clearance in India for their $8.5 billion merger, which would create the nation's largest entertainment company.
Airtel had previously discussed acquiring and merging Wynk with Times Internet and Tencent-backed Gaana, but the talks fizzled. Later, Gaana was acquired by Times Group's subsidiary Entertainment Network India Limited (ENIL) in December 2023 for Rs 25 lakh.
MENAFN28082024007385015968ID1108609232
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.