India Music Streaming Market to Grow with a CAGR of 7.60% through 2030F
The India music streaming
market is expanding due to increased smartphone penetration, affordable data
plans, and rising demand for diverse music content, attracting both local and
global streaming platforms.
According
to TechSci Research report, “India Music Streaming Market – By Region, Forecast
& Opportunities, 2030F”, India Music Streaming Market was valued
at USD 453.71 Billion in 2024 and is expected to reach USD 700.92 Billion by 2030
with a CAGR of 7.60% during the forecast period. The India music streaming market has
witnessed significant growth over the last few years, fueled by advancements in
digital technology, the rise of smartphones, and better internet access. Music
streaming platforms have transformed how Indian consumers access music, moving
away from traditional forms like FM radio, CDs, and pirated downloads. Services
like Spotify, YouTube Music, Gaana, JioSaavn, and Apple Music are dominating
the market, offering a vast catalog of music spanning genres, languages, and
cultures. India, with its rapidly expanding internet user base and growing
middle class, has become one of the largest and most diverse markets for music
streaming worldwide. The country’s digital music consumption is being shaped by
its young, tech-savvy population, which seeks instant access to music content
through streaming services, often in combination with other digital media like
podcasts and videos.
The growth of India’s music streaming
market is driven by several factors, the most important being the rise in
smartphone penetration and the increasing affordability of mobile data. India’s
mobile subscriber base continues to grow, and with the rollout of affordable 4G
and 5G services, more users have access to high-speed internet, making
streaming music easier and more accessible. As smartphones become more
affordable, millions of people in rural and semi-urban areas are joining the
digital world, further expanding the market for music streaming. Changing
consumer preferences are another key driver. The younger generation in India,
which is digitally native and constantly seeking new ways to consume
entertainment, prefers on-demand, personalized music. Streaming platforms offer
tailored playlists, song recommendations, and a wide variety of content, which
traditional media could not. In addition, the growth of regional content,
offering music in a variety of Indian languages, has been a crucial factor in attracting
more listeners. Platforms have recognized the importance of localizing content
to cater to India’s diverse linguistic and cultural landscape, providing a
unique advantage in a crowded market.
The India music streaming market is
expected to continue growing, with several key trends influencing its future
trajectory. One of the most important trends is the increasing importance of
regional and vernacular content. India’s diverse linguistic landscape means
that streaming platforms will continue to localize content to meet the needs of
various regions. Platforms are focusing more on offering music in a variety of
Indian languages, as well as incorporating local artists and genres that
resonate with users on a deeper level. The integration of music streaming with
emerging technologies like smart speakers, voice assistants, and wearables is
another growing trend. As consumers adopt smart home technology, music
streaming platforms are making their services available on devices like Amazon
Echo, Google Nest, and smart TVs, providing users with a more seamless,
hands-free experience. The rise of short-form video content platforms, such as
Instagram Reels and YouTube Shorts, has also influenced music discovery, with
viral music trends often originating from these platforms. The shift towards
subscription-based services is likely to gain momentum in the coming years, as
more users in urban centers and affluent populations embrace the premium,
ad-free experience offered by platforms like Spotify, Apple Music, and Amazon
Prime Music. As disposable incomes rise and digital payment systems become more
accessible, the conversion from ad-supported to paid subscription models will
continue to grow, helping platforms generate more revenue.
Browse
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"India Music Streaming Market”
The India Music
Streaming Market is segmented into revenue model, service, platform and
region.
Based
on revenue
model, Ad-supported
services are the fastest-growing revenue model in India’s music streaming
market due to the country’s price-sensitive consumer base. Many users prefer
free access to music with ads over paid subscriptions, especially in rural and
semi-urban areas where disposable incomes are lower. Platforms like Spotify
Free, YouTube Music, and Gaana leverage this model to attract a large number of
users. Advertisers are eager to target the growing digital audience, which
further fuels the growth of ad-supported services. With a vast user base and
increased ad revenue potential, ad-supported services are expanding rapidly in
India.
Based
on region, West region of India is the fastest-growing segment in the music
streaming market, driven by the rapid urbanization and increasing smartphone
penetration in states like Maharashtra, Gujarat, and Rajasthan. Cities such as
Mumbai, Pune, and Ahmedabad have seen a surge in internet users and digital
music consumption. The region’s affluent and tech-savvy population is
increasingly adopting music streaming services, with a preference for both
Bollywood and regional music. With improved connectivity, disposable incomes,
and a diverse cultural landscape, the West region continues to experience
significant growth, making it a key market for streaming platforms.
Major companies
operating in India Music Streaming Market are:
- Spotify India LLP
- Saavn Media
Limited (JioSaavn)
- Gamma Gaana Ltd.
- Airtel Digital
Limited (Wynk Music)
- Apple India
Private Limited (Apple Music)
- Amazon Seller
Services Private Limited (Amazon Prime Music)
- Hungama Digital
Media Entertainment Pvt Ltd. (Hungama)
- Google India
Private Limited (Youtube Music)
- SoundCloud
Limited (SoundCloud)
- Bytedance Ltd. (Resso Music)
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“The India music streaming market has
experienced robust growth in recent years, driven by several key factors.
Increased smartphone penetration, affordable data plans, and the rollout of
4G/5G networks have made music streaming more accessible across urban and rural
areas. The market is also benefiting from the rising demand for on-demand
music, with younger, tech-savvy consumers increasingly shifting from
traditional media to streaming platforms. Local players like Gaana, JioSaavn,
and international services like Spotify and Apple Music are catering to India’s
diverse tastes, offering both Bollywood and regional content. The market’s
growth is further supported by increasing internet connectivity, rising
disposable incomes, and the integration of music streaming with smart devices,
making it a dynamic and rapidly expanding segment in India’s digital ecosystem.”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“India Music Streaming
Market, By Revenue Model (Subscription-Based Services, Ad-Supported Services), By
Service (On-Demand Music Streaming, Live Music Streaming), By Platform (Application Based, Web Based), By Region,
Competition Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential
of India Music Streaming Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the India Music
Streaming Market.
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