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India’s Paid Music Subscriptions to reach 30 Millions by 2028,Says EY – IMI Report

Aleem Shaikh - July 24, 2026 0

Hello Mumbai Entertainment Desk: ndia’s paid music subscriptions could reach 28–30 million by 2028 as industry focuses on monetization and premium experiences: EY–IMI report 96% of smartphone users listen to music, with 80% spending more than one hour per day listening Yet, India had an estimated 14 million paid music subscriptions as of December 2025, compared to over 200 million video subscriptions The report estimates that paid music subscriptions in India could reach 28–30 million by 2028 if current monetization initiatives continue 24 July 2026, Mumbai: Despite music being among the most consumed forms of digital entertainment in India, paid music streaming remains significantly underpenetrated, according to the report by EY and the Indian Music Industry (IMI), How India listens, streams and pays for music. The report estimates that India had approximately 14 million paid music subscriptions in 2025 and that the subscriber base could grow to 28–30 million by 2028, supported by product innovation, partnerships and evolving consumer preferences. The EY–IMI report is based on a survey of more than 15,000 smartphone users across India and explores music consumption behaviour, subscription trends and factors influencing willingness to pay for music services. The findings indicate that music engagement remains exceptionally strong, with 96% of smartphone users listening to music and four out of five listeners spending more than one hour each day consuming audio content. However, a substantial gap remains between consumption and monetization. While 86% of respondents reported paying for video OTT (Over-the-Top) services at some point, only 38% said they had ever paid for a music streaming service, including where bundled. According to the EY–IMI analysis, widespread availability of free alternatives and limited differentiation between free and premium offerings continue to influence subscription adoption. Interestingly, 61% of respondents were willing to pay for streaming music if free alternatives disappeared and pricing was reasonable. The balance 39% would still not pay, and move to pirated and other sources of music. Blaise Fernandes, President, Indian Music Industry (IMI) said, “Art requires more than just inspiration; it requires economic oxygen. To take Indian music global and discover our next generation of talent, we must transition from being a passive consumer market into active patron’s market. Paying for an audio digital subscription is a direct investment by the fan to show support to their favourite performers and also helps in preserving and exporting our rich cultural heritage.” Vikram Mehra, Chairman, IMI said, “EY-IMI’s Consumer study validates our belief that Indian consumer is ready to pay for quality. We look forward to working with our partners, the DSPs, in expanding the audio paid services ecosystem in India. The eventual goal is to get India into the top 5 music market of the world." Commenting on the findings, Ashish Pherwani, Partner and Leader, Media & Entertainment Sector, EY India said: "Music remains one of India's most consumed forms of digital entertainment. The report highlights an opportunity for the industry to further strengthen subscription adoption through improved consumer awareness, differentiated offerings and innovation that responds to evolving listener preferences." The EY–IMI report notes that dedicated music streaming platforms remain the preferred destination for structured listening experiences, with 60% of respondents using digital service providers for music consumption. At the same time, discovery increasingly takes place through short-form video and social platforms, influencing how users engage with music services. Key findings 96% of smartphone owners consumed music, of whom 80% listened for over an hour a day 38% of smartphone users had ever paid for music, while 86% had ever paid for video (including bundles) 60% of smartphone users listened to music on DSPs (digital service providers), compared to 32% on YouTube 61% were willing to pay if all free options ended and the price was reasonable Free alternatives and limited perceived differentiation between free and premium services remain key barriers to subscription growth Consumers who pay for music primarily cite ad-free listening, playback control and higher audio quality as reasons for subscribing The report estimates that India's paid music subscriber base could reach 28–30 million by 2028 About the report How India listens, streams and pays for music is a joint report by EY and Indian Music Industry (IMI), based on a survey of 15,373 smartphone users conducted during March and April 2026, supplemented by psychometric research involving more than 2,200 consumers and discussions with industry stakeholders. The report assesses music consumption patterns, payment behaviour and growth opportunities in India's music streaming market. About EY EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets. Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow. EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fuelled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories. All in to shape the future with confidence. EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, For More Details visit ey.com.

India’s Paid Music Subscriptions to reach 30 Millions by 2028,Says EY – IMI Report

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