iWorld
Gaana CEO Prashan Agarwal steps down
KOLKATA: Gaana CEO Prashan Agarwal has stepped down after heading the music streaming service for five years.
“After an amazing five years of leading Gaana to be the No. 1 Music streaming service in India, I am stepping down from my role as CEO and am extremely grateful to my wonderful colleagues, music industry partners and investors who put so much trust and empowerment in enabling me to deliver,” Agarwal wrote in a LinkedIn post.
He thanked his mentors Satyan Gajwani and Vineet Jain for providing him with a platform to make such a remarkable impact on the Indian music ecosystem and bringing entertainment to more than 185 million users across the world.
Gaana is jointly owned by Times Internet (the majority stakeholder), and Tencent, which raised Rs 3.75 billion in debt last year to help finance the company’s growth.
Agarwal joined Gaana as CEO in May 2016. Before joining Times Internet, he co-founded multiple internet ventures including 19miles.com and PropTiger.com. He is an alumnus of IIT Kanpur and the Indian School of Business.
Gaming
Sony raises PS5 prices for second time in under a year
US disc edition jumps $100 to $649.99 as memory costs surge.
MUMBAI: Sony just hit the pause button on affordable gaming because when memory prices skyrocket, even the Playstation has to pay the premium. Sony has announced its second price increase for the Playstation 5 range in less than a year, citing pressures in the global economic landscape and a sharp rise in memory component costs driven by AI demand.
In the US, the PS5 disc edition will rise from $549.99 to $649.99, a $100 hike while the digital edition increases to $599.99. The more powerful PS5 Pro will jump $150 to $899.99. The Playstation Portal remote player will also rise by $50 to $249.99. The new prices take effect on 2 April 2026.
Similar increases have been applied in the UK (£90 per model), Europe and Japan. Sony last raised PS5 prices in the US in August 2025.
“We know that price changes impact our community, and after careful evaluation, we found this was a necessary step to ensure we can continue delivering innovative, high-quality gaming experiences to players worldwide,” Sony said in a blog post.
The hikes come amid an unprecedented surge in memory prices, as manufacturers prioritise supply for AI data centres. Analysts say Sony had likely secured price protections for components that have now expired, forcing the company to protect its hardware margins.
Ampere Analysis research director of games Piers Harding-Rolls told CNBC that further increases from Microsoft and Nintendo would not be surprising, though Nintendo may hesitate to raise the price of its recently launched Switch 2 while establishing the new platform.
The increases arrive eight months before the highly anticipated release of GTA 6, which is expected to drive strong console sales. However, early reactions online have been a mix of disappointment and resignation, with growing concern that premium gaming is increasingly becoming a hobby for higher-income players.
In a sector already grappling with tariffs, inflation and component shortages, Sony’s move underscores a tough reality: even the most popular consoles are not immune to the rising cost of keeping up with the latest technology.
