But at just $0.16, its per-capita music revenue is among the lowest in the world.
India was the 17th-largest recorded-music market in 2021 with $219 million in revenue, up 20% from 2020 and driven largely by streaming, according to IFPI’s Global Music Report. Multiple factors are at play, including India’s significantly lower per-stream payouts, a resistance to paying for music subscriptions and the challenges of a market with two official languages and another 22 regional ones. Miley Cyrus' 'Flowers' Hits 1 Billion Streams on Spotify in Record Timeĭespite this, India is not a top five revenue market for the service, Gyllenhammar says, demonstrating the limits of the country - which has 1.4 billion people and is expected to soon pass China as the most populous nation - as a music market. Spotify did not provide numbers, but Comscore estimates the platform has about 55 million monthly active users (MAUs) in India, and Spotify is the country’s top audio-streaming service in terms of engagement, with nearly 10 billion tracks streamed in India in January alone, sources close to the company say. Last year, Spotify says, Bollywood playback singer Arijit Singh tallied more streams on the app than Beyonce. Then in January, Singh broke into the top 10 of Spotify’s Global Top Artists chart, even though most of his plays were in India. The company’s user count in India has tripled over the last two years, according to Gyllenhammar.
“India is the single market that has contributed the most to our global growth over the last year,” says Gustav Gyllenhammar, Spotify’s vp of markets and subscriber growth. MUMBAI - India is driving Spotify’s international expansion, vaulting into the top five territories in total users for the platform after just four years of operation in the country.
0 kommentar(er)
