Spotify has been celebrating its 2nd innings in India. The Sweden audio streaming service has reached milestones within a short tenure in India.
What are the milestones, and how well has it been moving forward in India and other countries?
In this article, let us have a close watch about Spotify users in India, the brand’s growth, and its related statistics useful for many folks out there.
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Spotify Users In India
According to Economictimes, Spotify has added 25 million new users to its monthly database in the quarter month of December 2020. In its launch year, i.e., the previous year, Spotify has reached 2 million users in India. Currently, it has around 345 million monthly active users globally.
Among the 345 million active users, 155 million come under paid subscribers category. Spotify launched in India with aggressive plans. It continues to offer the cheapest priced plans. When it comes to Spotify, there are many plans you can choose from.
According to Spotify’s internal search, it is said that the brand’s popularity has been increased more than 3x times in India since its tenure. It has become popular among the younger generation. Surprisingly, it also had witnessed an increase among users of age 35 and above.
India has also witnessed a 90 percent increase yearly. When it comes to RADAR, you can see that Spotify had grown more than 500 percent since its launch in May 2020. It has also been confirmed that over 600 playlists were curated locally by Spotify’s in-house editors. You can also enjoy the music from more than 20 artists from India. They have also been featured in global playlists.
As said earlier, 90 percent of podcast listeners are under the age of 35, and 70 percent of them prefer pop music. Spotify also witnessed an 80x increase in the number of podcasts compared to the same number during the previous year.
India – Notable Source of Growth for Spotify
Spotify has been witnessing more heights in India. In its Q4 revenue, there is a 17 percent increase which brings a surge hike to $2.61 billion. The music streaming service has been competing with enough capabilities with Gaana, Wynk, Amazon Prime Music, Apple Music, and more streaming services in India. (source)
Music streaming App Spotify has entered the Indian market in 2019 that has reported a sudden hike of 27 percent growth with active monthly users in Q4 2020. It seems to be a notable source of growth for Spotify in India. Accelerated with its benefits, Spotify has witnessed 74 million net additions.
The company added 25 million monthly active users in Q4. Spotify has been witnessing faster growth in India, the US, and Western Europe.
Spotify has also launched a special and new subscription model named Spotify Premium Mini in India. It allows its users to access a subset of premium features daily and weekly at a lower cost. Say, you can download 30 songs with unlimited ad-free music on a single mobile at 7 INR/day.
Spotify’s Partnership with Flipkart
Spotify has also partnered with Flipkart to provide free premium service for six months when they purchase products for a certain amount in Flipkart. Spotify has also released its first podcast in Telugu on the life of Late Rama Rao.
The Indian music streaming industry has been expected to the worth $663 million in 2021. It also witnesses a 14.2 percent CAGR. According to Statista, possibly, it will become $1.1 billion by 2025. When it comes to user penetration data, it would likely increase to 6 percent by 2025, which is 4.3 percent in 2021. The ad revenue from Spotify was around 1000 crore INR and is likely to hit 2000 crore INR by 2024.
Spotify Revenue from Ads In India
Deloitte and IMI (Indian Music Industry) have reported that the music streaming industry in India has been currently generating revenue of around INR 270 Crore. At the same time, the overall music industry in India is valued at around INR 1068.
The audio streaming market in India has been dominated by Gaana, JioSaavn, Wynk, Spotify, Google Play Music, and others. When it comes to percentages, here is a clear analysis.
- Gaana – 30 percent share
- JioSaavn – 24 percent share
- Wynk Music – 15 percent share
- Spotify – 15 percent share
- Google Play Music – 10 percent share
- Others – 7 percent
According to the Kantar-Vtion study, Spotify, with its growing revenue, managed to spot as fourth, followed by Gaana, JioSaavn, and Wynk.
With an outline and stats about Spotify, it is evident that podcasts and playlists remain in the top entertainment mode for Indians. I hope this data helps you elsewhere for your search. Cheers!