India is one of the fastest-growing economies in the world. The country’s entertainment and music industries are growing rapidly. A growing middle class is creating investment opportunities for the world’s biggest companies. This is the story of India’s booming music economy.
A growing middle class creates new opportunities
India is in the midst of rapid urban development. Its middle class is growing at an unprecedented rate. Between 1995 to 2021, the middle class grew at an average pace of 6.3 % per year. Today, 31% of the country’s population is middle class and in 2047 the same number is projected to grow to 60 %. The growth has helped make India the world’s fastest growing economy for the last few years.
New economic conditions are bringing major opportunities for the world’s most populous country. In 2019, the number of active internet users in India was estimated at around 400 million. Today, the same number is just short of a billion. It has made a large number of the world’s biggest companies turn their attention to the South Asian country.
The launch of Spotify and YouTube Music in India
The music streaming market in India during the 2010s was highly competitive and dominated by local companies such as Gaana and JioSaavn. Apple Music launched in India in 2015, but struggled to gain significant market share.
It was in 2019 that Spotify saw the market’s potential and launched in India. Less than a month later, YouTube Music launched in the country as well.
Spotify, which at the time of the launch was the 10th biggest streaming platform in India, is now the market leader in the country. In just a few years, India became one of Spotify’s biggest markets. According to the entertainment data platform Luminate, India is on track to become the world’s biggest streaming market for total on-demand audio and video streaming. For instance, India now stands as YouTube’s largest market with over 500 million users, roughly double the size of the company’s second biggest market, the U.S.
Indian artists are growing internationally
Between the years of 2019 and 2023, the streams of Indian artists grew more than 2000 % in international markets. Nearly 50 % of the royalties generated by Indian artists were from listeners outside the country. Indian artists like Arijit Singh, Shreya Ghoshal and Pritam regularly top the list of the world’s most streamed musical acts. India reflects an expansive trend of rising revenues across the global music industry.
The rapid growth of India’s live entertainment sector
India’s live entertainment sector is growing rapidly. According to a report by EY, the organized live events segment saw a 44 % increase in 2025. The segment is projected to grow at around 19 % annually in the coming years.
More and more artists are choosing to perform shows in India. For instance, Coldplay held their two biggest concerts ever in the Indian city of Ahmedabad in the beginning of 2025 with over 110 000 fans each night. Less than a month later, Ed Sheeran went on a six-city tour in India. Since then, global artists like Travis Scott, Post Malone and John Mayer have played solo shows in the country.
Conclusion
India has grown to become one of the most vital markets for music consumption. Giant companies like Spotify, Apple and YouTube have taken advantage of the situation and established themselves in the world’s most populous country. Projections suggest that India is on track to become the world’s largest streaming market, positioning the country as a key driver of future growth in the global music industry.