The Indian online music streaming market is anticipated to grow at a considerable CAGR of 19.1% during the forecast period (2020-2026). The market growth is mainly attributed to the increasing smartphone penetration with the rise in internet penetration across the country. Further, the reduction in the cost of mobile internet has positively impacted the market as well. In 2020, owing to the lockdown in the country concerning the COVID-19 pandemic and rise in the popularity of regional content is assisting the market growth as well. According to Gamma Gaana, Ltd., regional music accounts for more than 35% of music streaming consumption in the country, where more than half of all users living in smaller cities and rural areas. Further, as per the music application, the country’s music streaming users will increase to 600 million by 2023 owing to the demand for regional content.
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However, there are very few people who are ready to pay for music or content in the country. Most platforms in the country offer full catalogs of albums and songs with few advertisements in between. This compels platforms to rely on ad revenues, hence sowing the market growth in the country.
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- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered-
- By Service
- By Content-Type
- By Platform
- By End-User
- By Revenue Model
- Regions Covered- India
- Competitive Landscape- Amazon.com, Inc., Apple, Inc., Gamma Gaana Ltd, Google LLC., Spotify AB, Saavn Media Pvt. Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Indian Online Music Streaming Market Report Segment
- On-Demand streaming
- Live Streaming
- Audio Streaming
- Video Streaming
By Revenue Model
- Airtel Digital,Ltd.
- com, Inc.
- Apple, Inc.
- Gamma Ganaa, Ltd.
- Google, LLC.
- Hungama Digital Media Entertainment Pvt. Ltd.
- Saavn Media Pvt Ltd.
- SoundCloud Ltd.
- Spotify AB.
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