Punjab, Sept. 11 -- India has roughly 178 million people streaming music. About 8% of them pay for it.
The number that defines the market
That gap is the Indian music industry in one line. Listenership at a scale almost no other market can match, monetisation at a fraction of the rate that scale would suggest.
The paid base is growing quickly - up around 37% year on year to 14.4 million subscriptions - but it is growing from a small number. The industry is expected to be worth about Rs 6,000 crore in 2025, rising toward Rs 7,800 crore in 2026 at a compound growth rate near 13.4%.
Why conversion is so hard here
Three things work against it. Ad-supported listening is genuinely good enough for most users. Data is cheap, so streaming does ...