According to the IFPI, in 2017 India’s recorded-music was worth $130.7m in trade value, including $87.4m from streaming. How might that grow? Nomura / Instinet analyst Mark Kelley has made his predictions, in a note to clients about Spotify’s anticipated launch in India early next year.
“Expect India streaming market to reach $976mn by 2025,” wrote Kelley. “ We estimate the premium opportunity will reach $656mn and the advertising opportunity will reach $320mn.” That would compare to $33.7m from subscriptions, $27.6m from ad-supported audio streams, and $26m from ad-supported video streams in 2017, so sharp growth (and a change in market dynamics) on the premium side.
While we’re on India, read this interview with streaming service Gaana’s CEO Prashan Agarwal, who talks about the anticipated growth of the Indian streaming market to 400 million users in the next couple of years. Gaana itself expects ‘around 70% of its next 100 million users’ to come from tier two, three and four towns in India (i.e. not the big cities), which will bring its own requirements for supporting more regional languages and music.
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