Proving the Indian audience’s love for music, a study reveals that an average Indian spends 19.1 hours a week listening to music, which is higher than the global average of 18 hours. This announcement was a part of the Digital Music Study 2019 conducted by Indian Music Industry (IMI).
This means that an average Indian listens to music for 2.7 hours, which is equivalent of listening to 54 three-minute songs, daily, according to the study.
The study had taken place across nine cities in India to examine the music listening habits of respondents between 16 and 64 years of age. According to the study, 97% of the sample size preferred listening to music on their smartphones. As far as music streaming is concerned, 62% listeners used social media platforms and apps to listen to music or watch music videos.
Out of this music listeners, 75% heard music while relaxing at home, 62% in the car and 45% at social events like restaurants or pubs. The study also touched upon the genres people prefer listening to in India.
Bollywood music came out to be the most prefered genres. Bollywood music, released in the last 12 to 18 months was a choice for 60% of respondents whereas 53% chose vintage songs. To get a clearer image, the respondents were then asked to choose one favourite genre, that pointed out, 19% of people prefered listening to new songs, while 16% chose classic Bollywood music.
Music Streaming, A Done Deal?
According to Noida-based TechSci Research, India’s $150 Mn music-streaming market is estimated to touch $400 Mn by 2023.
To be a part of this growth in the music streaming, Sweden-based Spotify and California-based YouTube Music entered the Indian music streaming arena. Other platforms available in India include Hungama, Ganna, JioSaavn, Apple Music and Prime Music.
The MIM report points out that the streaming revenues grew up to 30.9% over the year, accounting for 70% of overall music industry revenues. On the other hand, other digital sales in the form of digital downloads accounted for 8% of the industry’s total revenues.
Talking about the revenue models these companies follow, the subscription-model revenues have grown by 33.3% from INR 73.2 Cr to INR 292.8 Cr, whereas the advertisement-model, which is free for the listeners, rose by 43.6% from INR 78 Cr to INR 257 Cr.
Another study of 2018 by the International Federation of the Phonographic Industry revealed that an Indian consumer spends 21 hours a week listening to music, which is higher than the global average of 17.8 hours. Out of these, 95% of internet users prefer consuming music through on-demand streaming, while audio-streaming is used by 86% of internet users.