India's paid music subscribers could hit 30 million by 2028
India's paid music subscribers could roughly double by 2028, rising to between 28 million and 30 million from an estimated 14 million as of December 2025, according to an EY-IMI report. The findings matter because high listening rates still lag far behind video when it comes to paying for streams.
Key Takeaways
- EY and the Indian Music Industry project 28–30 million paid music streaming subscribers in India by 2028, up from about 14 million in December 2025.
- About 96% of smartphone owners consume music, yet only 38% have ever paid for music streaming versus 86% who have paid for video streaming.
- Paid subscriptions grew 37% in 2025; subscription revenues are projected to rise from roughly INR10 billion (about $111 million) in 2025 to INR22 billion (about $244 million) by 2028.
- Industry CEOs interviewed for the report put the long-term ceiling at 50 million to 75 million paid subscriptions.
What does the EY-IMI report say about growth?
The EY-IMI findings reported by Variety estimate India's paid music streaming base could reach 28 million to 30 million by 2028. The study, titled "How India Listens, Streams and Pays for Music," was released Friday in Mumbai.
Researchers polled more than 15,000 smartphone owners in March and April, supplemented by psychometric research covering more than 2,200 consumers and discussions with industry executives. Follow more platform shifts in our Streaming & TV Alerts hub.
Why do so few Indians pay for music streaming?
The report frames the shortfall as a legacy of India's leap from physical formats straight to free, ad-supported streaming. Some 96% of smartphone owners consume music, and 80% of them listen for more than an hour a day.
Yet just 38% have ever handed over money for music streaming, bundled subscriptions included, versus 86% who have paid for video streaming at some point. Dedicated digital service providers remain the preferred destination for structured listening, used by 60% of respondents, while 32% listened to music on YouTube.
YouTube remains the single largest platform for music discovery, driven largely by short-form video. Among those who do not pay, 42% said YouTube already gives them all the music they need for free, while 33% cited price and 30% said they simply do not need premium features. Among payers, avoiding ads was the most cited reason (44%), followed by playing songs in any order (38%) and higher audio quality (36%).
What could lift India's paid music subscribers further?
IMI CEO Blaise Fernandes wrote that a "non-paid for music ecosystem eventually negatively impacts the creators and copyright owners," arguing labels, DSPs and creators need a tiered paid model. Chair Vikram Mehra said the study validates that Indian consumers are ready to pay for quality, with a goal of placing India among the world's top five music markets.
India's 14 million paid subscribers trail Brazil's more than 30 million and the United States' 106 million, while China has built a paid base of more than 171 million. Structural drivers cited include 584 million smartphones in 2025, potentially 735 million by 2030, 6.5% real GDP growth in 2025, more than 400 million registered vehicles as of 2025, and a young population with 65% of Indians under age 35.
Paid subscriptions grew 37% in 2025 as streamers pushed premium features and introduced more friction into free products. Psychometric research by MindLink flags Fence-sitters as the likelier conversion target, and the report recommends context-aware listening, deeper bundling with telecom, banking and e-commerce, multi-purpose apps, and continued anti-piracy enforcement.