An overview of India’s music industry
As reported by IBEF, the Music industry in India is witnessing unprecedented growth, fuelled by the rapid adoption of Digital music in India.
Spotify and other platforms have changed the game by providing clear royalty structures, artist educational programmes, and worldwide exposure. Spotify has also made a big impact in promoting local artists, with international streams of Indian artists increasing by over 2,000% between 2019 and 2023. In 2024 alone, Indian artists were heard 11.2 billion times by new listeners, and royalty payments have increased more than twice since 2022. Nearly two-thirds of royalties generated in India now come from local artists, showing the rising influence of Music streaming in India both domestically and abroad. India is the second biggest streaming market in the world and is estimated to have 471 billion streams by December 2025, 78% of which are expected to be domestic Indian music.
Key growth drivers shaping the music industry in India include:
- Shift towards artist-led music: Artist-driven music and regional music are increasing, with South Indian and vernacular markets providing new centres of revenue and lessening the dependence on film soundtracks.
- Expansion of monetisation avenues: In addition to streaming, monetisation channels now include concerts, fan clubs, live shows, branded collaborations, and merchandise, enabling artists with a broader range of opportunities to engage with fans and increase profits.
- Youth-driven demand: Gen-Z and millennials are the main consumers with their playlists, short-form content, and on-demand streaming, driving the industry and defining trends.
- Subscription potential and global reach: India has 550 million YouTube users, 40% of whom listen to audio, and has untapped paid subscription potential, and almost half of royalties already originate internationally.
Collectively, these drivers contribute to 30-50% growth annually, and India is one of the most promising music markets across the globe.