Mumbai: In a significant achievement for the world of content creation and music, Hoopr.ai, India’s premier music licensing platform, proudly announces it has surpassed 2 lakh users on the platform during the fourth quarter of FY24. This milestone highlights Hoopr’s rapid growth and its essential role in providing copyright-safe music to various content creators, brands, businesses, agencies, and editors across India and beyond.
The Indian creator economy is thriving, with as many as 50 million creators present in the country. In addition to mainstays such as YouTube, Instagram, and Facebook, other platforms are working towards making themselves more appealing towards creators. For instance, Snap has started video monetization in India and Twitter (X) is expected to launch a dedicated video platform soon. No surprise, then, that the number of creators in India is projected to double by 2026. Hoopr’s milestone firmly positions it as a go-to platform for these creators, offering 12k+ copyright-safe music tracks to enhance their content without the risk of infringing copyright laws.
Hoopr’s user base represents every state and union territory in India, including content creators, filmmakers, enterprises, agencies, broadcasters, and brands from all 28 states and 8 union territories. The platform caters to a wide range of content creators involved in cooking, daily vlogging, travel, gadget reviews, arts and crafts, pet care, and more. Hoopr has onboarded several prestigious brands and businesses, including Myntra, Marico, Rajasthan Royals, OML, and Pocket FM, among others. Individual creators, brands, businesses, and agencies have affirmed their trust in Hoopr as their preferred choice for copyright-safe music.
Gaurav Dagaonkar, CEO and Co-founder of Hoopr, commented: “We’re proud that since the inception of Hoopr, over 2 lakh users, both in India and abroad, have used our platform and found value in the music we have made available for them. The credit for this goes to the team and to all the incredible artists whose music is the real wealth of the platform. Going forward, Hoopr will be catering to several more states in India.”
Meghna Mittal, co-founder and Hoopr’s head of revenue added: “When we started Hoopr, we knew that getting Indian music was a big pain point for a lot of creators, especially brands. As the demand for content creation is increasing multifold, so is the need for copyright-safe music. And I’m grateful to all our subscribers, the influencers, brands, production houses, and TV channels, who have chosen to trust us as the preferred choice of music for use in their content, ads, films, etc.”
Hoopr’s platform offers creators access to a vast library of copyright-safe music tracks, allowing them to enhance their content without the risk of infringing copyright laws. The library includes thousands of tracks created by both established and emerging musicians from across India, featuring songs in various vernacular languages as well as English. The platform also provides unique sound effects recorded in diverse locations across India, such as the banks of the Ganges, local markets, and wildlife habitats. Some well-known creators using Hoopr include Ranveer Brar, Flying Beast, Mr Indian Hacker, Ashish Vidyarthi and Taniya Khanijow, along with brands like Myntra, Marico, Rajasthan Royals, OML, and Pocket FM.
Since its launch, less than two years ago, Hoopr has become an indispensable platform for over 2 lakh users, offering premium Indian copyright-safe music for creators, brands, businesses, agencies, radio stations, broadcasters, and more. With users spanning every state and union territory in India, as well as 15 other countries, Hoopr underscores the expansive reach and growing importance of content creation as a business.
Moreover, with an average daily stream of 18,000, Hoopr’s tracks are evidently popular and engaging among users. This high level of engagement contributes significantly to the platform’s success. The retention rate on the platform is a remarkable 70%, underscoring the product’s efficacy and the satisfaction of its users. Notably, 85% of Hoopr’s creators belong to the Nano category, meaning they have fewer than 10,000 subscribers. This shows the importance these smaller creators place on using copyright-cleared music to avoid potential legal issues and ensure the smooth growth of their channels. Furthermore, the monthly revenue from the product side of Hoopr has nearly doubled in the past year, reflecting the platform’s robust financial growth and the increasing demand for its services.
The broader creator economy is also thriving, with over 700,000 people in India able to make a living just through YouTube income. This has positioned the creator economy as one of the largest employers in the world. The market potential is immense, as over a million channels in India alone have crossed 1,000 subscribers, representing a milestone where creators can enable monetization on YouTube and start earning from the platform.
Content creators are increasingly aware of copyright restrictions, with almost a billion Content ID claims reported globally, including 100 million claims in India. This heightened awareness underscores the necessity of platforms like Hoopr that offer copyright-safe music. For as low as ₹249 a month, creators can circumvent these issues and be free of claims. Music labels are actively detecting and pursuing unauthorized music use in social media posts, making it even more crucial for creators to use licensed music. The dependence on unlicensed music can be risky, especially for business users who don’t have access to existing libraries on platforms like Instagram. Over 50,000 brands upload content on social media, all needing a licensing solution to avoid copyright claims, and many businesses have faced severe consequences, such as having their channels deleted.
About Hoopr.ai:
Hoopr.ai is India’s first music licensing platform that’s focused on solving a billion-dollar problem faced by content creators and businesses every day – discovering & licensing the right music for their videos! While Hoopr.ai is currently catering to the demand for licensed music, it will also be providing a massive opportunity for thousands of musicians to be able to monetize their music in a new way!
The company is looking to build tools and technologies that leverage data and consumer insights to provide intelligent recommendations, thereby making the search & discovery process super-efficient for its users.
Gaurav Dagaonkar co-founds Hoopr.ai; IIM- A alumnus and award-winning music director and entrepreneur with 14+ years of experience in the music industry, along with serial entrepreneur Meghna Mittal (ex-Hubilo, Yesssworks). Hoopr.ai is a funded startup with notable investors such as Venture Catalysts, 9Unicorns, Inflection Point Ventures, Ashneer Grover, Sahil Barua (Delhivery), Anshoo Sharma (Magicpin), Anuraag Srivastava, Pradyumna Agrawal, Giri Malpani and others.
Hoopr.ai is a part of GSharp Media – a content and technology company focused on creating media-tech platforms and content brands. GSharp Media also operates Songfest India, that creates music IPs with brands.
