India's Online Music Streaming Market Is Expected To Surpass $273 Million

There are nearly 450 million smartphones supported with cheap mobile data packages that have made the online music industry in India soar in recent times, which has happened similarly to the growth of online video player.

Spotify is one of the services that provide online music more and more used by Indian people

India's online music streaming market is believed to surpass $273 million in next year, according to market consulting firm Deloitte. Global music service providers claim that India is a "sleeping" market and it takes a lot of time to penetrate and explore.

The competition between online music apps is extremely fierce right now. Apple Music, Spotify, Gaana, AmazonPrime Music, JioSaavn and YouTube Music continuously discount their monthly subscription packages and enhance daily and weekly plans for their users.

Typically, Gaana and JioSaavn have respectively reduced their annual registration fees from Rs 1,098 and Rs 999 to Rs 299.  Rs 99 is also the current fee of the monthly package of Apple Music, Gaana, JioSaavnand, and YouTube Music Premium.

Amazon Music is offered alongside Amazon Prime to users for Rs 129 per month. Spotify in India has more flexible plans between the first and the first six months of use at Rs 119 per month.

According to a recent survey by CMR (CyberMedia Research), 55% of Indians spend 30% of their time listening to music through online streaming services.

Gaana is the most used online music player application in India today

Prabhu Ram, the team leader at Industry Intelligence Group (IIG) of CMR, said the number of Indians accessing and using online music is getting more and more thanks to affordable smartphones and cheap mobile data packages.

Since its debut in India in early April, YouTube Music has had more than 3 million downloads in just one week. Spotify, the leading online music streaming platform from Sweden, also has more than 1 million users within one single week of March.

According to the CMR report, India's most popular online music player application is Gaana with 25% of users. Besides, Wynk has 14% of Indian users, and both YouTube and Apple Music have 20 %.

According to the rankings provided by Statista's top data collection platform, music is one of the most active Indian consumer content in 2018; it is ranked 3.13 on a scale of 0 to 4. Following that are applications, movies, TV shows, electronic newspapers, and video games.

Although the number of people using these services has increased, they are still not ready to spend money for listening to music

Although the number of people participating in online music and movie service is quite high, the revenue of these service providers will not increase significantly.

Thomas George, the Senior Vice President and Manager of research firm CyberMedia Research (CMR), said the number of Indians willing to pay for these online content is significantly less than that of other countries. Other.