NEW DELHI, July 22 -- Audio streaming platforms have long competed on the breadth of their music catalogues. Now, as subscription prices rise and free tiers become less generous, the next battleground is shifting beyond music catalogues to product experience and exclusive content.

With services such as Spotify and Amazon Music either raising prices or introducing ads to previously ad-free experiences, industry executives say differentiation will increasingly come from exclusive intellectual property (IP), podcasts, creator ecosystems, artificial intelligence (AI)-powered discovery and a more personalized product experience.

Music catalogues are largely licensed and therefore similar across platforms, leaving limited room for differentia...