Rise in smartphone penetration gives fresh lease of life to music industry

Increasing smartphone and mobile internet penetration has given a fresh lease of life to the recorded music industry, which was encumbered with the challenge of dwindling physical sales until a few years back. A report on the audio OTT industry in India by Deloitte, called Audio OTT Economy in India, throws light on the trend of music streaming in the country, and where the Indian recorded music industry stands compared to its global peers.

India has an estimated 150 million monthly active users using audio OTT platforms to stream music

Indian consumers spend 21.5 hours a week listening to music, as compared to the global average of 17.8 hours a week