The Indian music industry continues to shift towards digital consumption in the advent of cheaper data rates, better digital infrastructure and availability of curated platforms. As a result, over 80% of the total revenue is generated from the digital consumption of music in India as opposed to 54.4% globally.
The digital-streaming user base is expected to reach 200-250 million by 2020, from its current estimated 50 million. India must enhance the value of content by converting a majority of this user base into paid subscribers.
Indian Music industry can grow from INR 850 Cr. to INR 1,500 Cr. by 2020. With such growth on the back of an unprecedented digital revolution, the Indian music industry has the growth potential of being amongst the top 10 music industries in the world by 2020.