India's Paid Music Subscribers May Reach 30 Million by 2028

India's paid music streaming subscriber base is poised for significant growth, potentially reaching between 28 million and 30 million users by 2028. This projection represents a near doubling from the estimated 14 million paid subscribers recorded in December 2025. These figures are detailed in the "How India Listens, Streams and Pays for Music" report, a collaborative effort by EY and the Indian Music Industry (IMI), which was released on Friday in Mumbai.

The report highlights that the Indian music streaming market has experienced substantial expansion, driven by increasing internet penetration, smartphone adoption, and the availability of affordable data plans. The growth trajectory suggests a sustained upward trend in consumer willingness to pay for premium music content and services. This expansion is expected to be fueled by a combination of new user acquisition and increased conversion rates from free to paid tiers.

Further analysis within the EY-IMI report indicates that evolving consumer preferences and the introduction of diverse subscription models are key factors contributing to this projected subscriber increase. The report also touches upon the revenue streams within the music industry, emphasizing the growing importance of paid subscriptions as a primary source of income for artists and music labels in India. The findings are based on extensive market research and data analysis conducted by EY and IMI.