A figure that’s been bandied around about the Indian digital-music market is ‘100 million’ – that’s how many people were thought to be using music-streaming services in India last year. Now there’s an update in a report published by Deloitte and Indian music-industry body IMI about the ‘Audio OTT economy in India’ – Audio OTT being ‘over-the-top’ services including Gaana, JioSaavn, Wynk Music, Apple Music and Amazon Music.
“Development of a robust music streaming ecosystem led to the overall number of music streaming users to nearly 150 million in December 2018,” claimed the report. The comparison is made to the online-video audience in India of more than 225 million people – this figure was YouTube’s monthly-active-users total in India in March 2018, incidentally – pointing out that the audio OTT audience is “only 60 percent of the online video audience – indicating the significant growth opportunity in the audio OTT space, thereby potentially increasing the revenues of the Indian recorded music industry.”
(Is this overly optimistic? An alternative take might be that perhaps the 40% of online-video viewers who aren’t also streaming audio may be satisfied with YouTube as their music source: making the large online-video audience a brake on the potential audio-streaming expansion?)
The study also outlines the current state of India as it relates to paid audio-streaming subscriptions. “Paid subscribers provide a stable source of revenue, but unfortunately in India less than 1 percent of the subscribers are paid users and nearly 14 percent subscribers are bundled users; the remaining 85 percent of users are on free subscription,” claims the report – ‘bundled’ referring to subscriptions provided by telcos that include access. “Therefore, to inculcate the habit of paying for music among consumers, it is critical that audio OTT platforms actively try and convert free users and bundled users to paid subscriptions…”
Talking of new platforms launching in India, check this story on The Indian Express, reporting on Samsung’s new Galaxy S10+ smartphone. “Interestingly, the India units of the Galaxy S10+ we have seen comes with the Spotify app pre-loaded on it,” reported the publication. The device will go on sale in India from 8 March…