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.
Browse the full report description of "Indian Online Music Streaming Market Size, Share & Trends Analysis Report by Service (On-demand Streaming and Live Streaming), By Content Type (Audio Streaming and Video Streaming), By Platform (Browser and Application), By End User (Residential & Commercial), By Revenue Model (Subscription & Advertisement) Forecast Period 2020-2026" at https://www.omrglobal.com/industry-reports/indian-online-music-streaming-market
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.
Market Coverage
o By Service
o By Content-Type
o By Platform
o By End-User
o By Revenue Model
o India
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Indian Online Music Streaming Market Report Segment
By Service
By Content-Type
By Platform
By End-User
By Revenue Model