Spotify joins Hands With T-Series Possibly Ahead Of India Launch

It is clear that – Spotify, the Sweden-based live music streaming giant has serious plans of entering the Indian market. And in this ambitious foray, it has roped in Indian market leader, T-Series. Through this, Spotify will gain access to T-Series' entire library of content, which includes Bollywood, regional and emerging artist music. T-Series' isn’t just India’s leading music juggernaut, but also the owner of the world’s second highest subscribed YouTube channel, one that is likely to even dethrone PewDiePie, the current no 1 channel.  

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As a trend, music streaming is extremely popular amongst the younger demographic in India. According to a Nielsen 2018 Report, the average Indian (in the age bracket of 16-45 years) consumes up to 20 hours of streaming music, which is less than the United States (where the average is 32 hours), but higher than China, which has an average of 16 hours. Currently the Indian music streaming market is dominated by the likes of JioSaavn, Gaana, and Apple Music. Spotify will directly compete with these players for a slice of market in India.  

In the last few years, OTT (over-the-top) content consumption in India has grown exponentially, aided by several factors such a high levels of internet penetration, falling data rates and faster smartphone adoption. Specifically speaking about music, according to a KPMG report, the recorded music business will reach $300 million in annual revenue in 2019—a mere 4% of the $7.65 billion that the U.S. recorded music industry earned last year. While a clear majority of this music remains Bollywood-centric, it has also proved to be a useful platform for emerging artists to showcase their talent.  

In this scenario, it would surely be interesting to note how Spotify, after becoming a global phenomenon, will create a niche for itself in the Indian market. And how the T-series association will help in its adoption, growth and expansion.   

Also read :Spotify India Launch Date: Service Could Compete With Jio, Saavn