Truecaller, a leading caller identification app has reported an increase of 8 per cent in net sales in India in the first quarter (Q1) of the calendar year 2024, saying that the country accounted for 74.2 per cent of the total net sales.
In a statement, the company said that India is continuing to remain one of the biggest markets for Truecaller as the region accounted for growth across three revenue streams:
- Truecaller for Business
- Premium subscriptions
- Ads
Net sales in India reached 316.8 million Swedish Krona (SEK) in the first quarter (Q1 FY24), compared to SEK 292.2 million in the corresponding quarter of the previous year (2023).
Globally, the average number of active users (MAU) has increased by 39 million to approximately 383.4 million, “out of which 272.6 million monthly active users are in India alone,” the company informed.
The daily active users (DAU) reached 314 million, out of which 234.4 million daily active users are based in India.
Truecaller experienced a significant 5 per cent surge in global ad revenue compared to the first quarter of 2023, largely driven by the increased demand for digital advertising coinciding with the Indian Premier League (IPL).
The company launched its call recording feature in the Indian market, which enables users to record and transcribe all calls, in English and Hindi.
The product is now available on Android as well as on iOS in India.
In April, Truecaller launched a new web version called Truecaller for Web that comes with a host of features including SMS and chat mirroring, number search functionality and call notifications. The new version was initially available in India and the company has planned to other countries in the future.
In March this year, Truecaller announced to add of a new AI-based feature on the platform. The newly rolled-out feature will have the capability to automatically block all spam calls, which will result in offering better security from spammers and potential scammers.
The AI feature will help the user with a new ‘Max’ protection tier for spam calls and is currently available only for the Android app. It is a paid feature and is only available to the premium subscribers of the app.
Inputs from IANS
