Daily streams on audio streaming platforms reached 460 million in FY23: RedSeer

The key players in the OTT audio space include services such as Spotify, Gaana, JioSaavn, Resso, Wynk Music, YouTube Music, Apple Music, and Amazon Music.

It further stated that the consumption growth on audio streaming apps has accelerated due to wider internet penetration, affordable mobile data, and the growing popularity of music as an on-demand entertainment option for consumers. The firm stated that growth in audio streaming apps is led by both users and engagement.