Gone are the days, when the Indian audience was only dependent on CDs, pen drives or on pirated music websites in order to stream their favourite music.
With the evolution of digital media, now it is quite easy to stream your favourite artist music and to download music playlist in a legal and genuine way. Thanks to the JioSaavn, Gaana, Hungama and Wynk, for their arrival on the Internet with millions of songs in their database.
Nowadays, more peoples are streaming music through these services and the Indian music industry is seeing a major lift. The major benefits of these streaming platforms over other platforms like Apple Music is that it is not compulsory to buy paid subscription and you can stream the latest music on them for free. But still we can download Hindi songs on the iPhone.They update their database each minute with a fresh bundle of new songs.
Also, the entry of Spotify and Youtube music will further accelerate the growth of music streaming. As of now, Gaana, the music service owned by Times Internet, is boss among all these with around 80 million monthly active users.
But there is no doubt that old music streaming giant like Songspk and still have a huge market share. But from all these platforms, Gaana service is the only in the country which allows users to read the lyrics of the songs too.
The Indian market is one of the hottest topics in the industry right now. The data cost being high in India until a few years ago was a factor that dissuaded people from making the shift to music streaming. Thanks to the Jio for providing such low-cost data to the Indian audience, which is playing an impact-full role in online streaming.
The revenue of the Indian music industry is on a rapid rise since last few years. Even we also know that the Indian music channel Tseries has also become the most subscribed Youtube channel in the world with more than 126 million subscribers.
In a single line, we can say that the trend of Indians listening to music or Hindi lyrics using an app is on the rise and the world has also recognised the vast potential of the Indian market, the market of 1.3 billion peoples.
As of now, the Indian music industry is ranked as 15th highest sector globally and is expected to break into too 10 by 2020. Majority of the revenue in music streaming in India is still from ads.
Please note that most music streaming platform or apps have a subscription as well as free/premium services. As of now, Gaana has topped the list of most preferred music streaming apps in India as per survey with more than 80 million users.
