India’s Paid Music Subscribers Could Reach 30 Million by 2028, Report Says
12 reported
A new report from EY and the Indian Music Industry (IMI) projects that India’s paid music streaming subscriber base could grow to between 28 million and 30 million by 2028, up from an estimated 14 million as of December 2025. The report, titled “How India Listens, Streams and Pays for Music,” was released Friday in Mumbai and draws on a poll of over 15,000 smartphone owners conducted in March and April, supplemented by psychometric research covering more than 2,200 consumers and discussions with industry executives. The findings highlight a gap between high music consumption and low payment rates: 96% of smartphone owners consume music, and 80% listen for more than an hour a day, yet only 38% have ever paid for music streaming. The report attributes the shortfall to India’s transition from physical formats directly to free, ad-supported streaming. Industry leaders, including IMI CEO Blaise Fernandes and chair Vikram Mehra, called for a tiered paid model and greater collaboration among record labels, DSPs, and creators to boost subscription adoption. The report also notes that India’s 14 million paid subscribers trail Brazil’s more than 30 million and the United States’ 106 million, while China has built a base of over 171 million.
What’s reported
India’s paid music streaming subscribers could reach 28 million to 30 million by 2028, up from 14 million as of December 2025.
The EY-IMI report was released Friday in Mumbai.
The poll surveyed over 15,000 smartphone owners in March and April, plus psychometric research on over 2,200 consumers.
96% of smartphone owners consume music; 80% listen for more than an hour a day.
Only 38% have ever paid for music streaming; 86% have paid for video streaming.
60% of respondents use dedicated digital service providers; 32% listen on YouTube.
India’s 14 million paid subscribers trail Brazil (over 30 million), the U.S. (106 million), and China (over 171 million).
Paid subscriptions grew 37% in 2025; subscription revenues projected to rise from INR10 billion (about $111 million) in 2025 to INR22 billion (about $244 million) by 2028.
Among payers, 44% cited avoiding ads as the top reason; among non-payers, 42% said YouTube gives them all the music they need for free.
India’s smartphone base was 584 million in 2025, projected to reach 735 million by 2030.
India’s real GDP grew 6.5% in 2025; the country is projected to become the world’s third-largest economy by 2030.
Over 400 million registered vehicles as of 2025; 65% of Indians are under age 35.
Key figures
Blaise Fernandes, CEO of the Indian Music Industry (IMI)
Vikram Mehra, chair of IMI
Ashish Pherwani, partner and leader of the media & entertainment sector at EY India
Badshah, composer, singer, and performer
Sources: Variety
