Tuesday, February 18, 2014

Dhingana Shuts Down

"All good things must come to an end" that’s what Dhingana team said in their good bye message. After giving a tight fight, Indian music streaming startup Dhingana has finally shutdown.

It reminds me about the shutting down of Music World, India’s popular music retain chain. After struggling to survive for a long period they gave it up too.

"One of the biggest challenges is working with music labels and lack of standardization in signing those agreements. Another issue is music piracy – India’s media and entertainment industry loses about $4 billion every year due to copyright infringement", TechCrunch reported.

Shutting down of Dhingana is actually the peak of the iceberg; the actual problem is deeper than what is visible. If Indian music startups and industry leaders do not come up with a realistic solution quickly, condition may turn worse.

On another note, a question to the budding entrepreneurs: Dhingana raised $7 million last year in Series B funding! A lot of people believe that it is essential for a startup to raise fund in order to survive. Then why Dhingana had to shutdown? Probably, funding is not the key to success.

Further Reading:

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