India’s paid music subscribers may double to 30 million by 2028

MUMBAI: India is humming along but the music industry wants more listeners to hit the ‘subscribe’ button. The country’s paid music subscriber base could nearly double to 28-30 million by 2028, provided current monetisation efforts continue, according to a joint report by EY and the Indian Music Industry (IMI).

The report estimates that India had around 14 million paid music subscribers in 2025, despite music remaining one of the country’s most consumed forms of digital entertainment.

Based on a survey of more than 15,000 smartphone users, the study found that 96 per cent of respondents listen to music on their smartphones, while 80 per cent of those listeners spend more than an hour every day streaming or listening to music.

Yet the industry’s biggest challenge remains converting listeners into paying customers. Only 38 per cent of respondents said they had ever paid for a music streaming service, including bundled subscriptions, compared with 86 per cent who had paid for a video OTT service at some point.

According to the report, the disparity stems from the easy availability of free music options and the relatively limited differentiation between free and premium music streaming services.

The findings also suggest that the market has significant headroom for growth. Sixty-one per cent of respondents said they would be willing to pay for music streaming if free alternatives were unavailable and subscription prices were affordable. The remaining 39 per cent said they would continue using free or pirated sources instead of subscribing.

Dedicated digital streaming platforms continue to dominate structured music consumption, with 60 per cent of respondents preferring dedicated digital service providers. However, the report noted that music discovery is increasingly shifting towards short-form video and social media platforms, reflecting changing consumer habits.

Commenting on the findings, Blaise Fernandes, President of IMI, said India’s music ecosystem needs stronger consumer support to sustain talent development and global ambitions. He said paid audio subscriptions represent a direct investment by fans in artists while helping preserve and export India’s musical heritage.

Vikram Mehra, Chairman of IMI, said the report reinforces the industry’s belief that Indian consumers are willing to pay for quality content. He added that IMI would work with digital streaming platforms to expand the paid audio ecosystem, with the long-term goal of making India one of the world’s top five music markets.

Ashish Pherwani, Partner and Media & Entertainment Leader at EY India, said music remains one of India’s most popular forms of digital entertainment and that stronger consumer awareness, differentiated offerings and product innovation could accelerate subscription adoption.

The findings underscore a growing opportunity for India’s music streaming industry. While millions already spend hours listening every day, the next phase of growth may depend less on attracting new listeners and more on persuading existing ones that good music is worth paying for.