INDIAN MUSIC INDUSTRY AT A GLANCE IN 2022 - 2023 The Indian Music Industry is one of the biggest revenue-generating industries in the country.
India is the 17th largest music market in the world.
The recorded music industry grew by 20.3% to reach USD 219 million during the last financial year . Of this amount, 86.9% came from streaming, 5.3%, from synchronisation, 3.8% from performance rights and 1.4% from physical products.
As per an estimate, the live music industry attracted revenues of USD 280 million. The revenues from tickets constitute 30% of the total. Music from South Indian languages such as Kannada, Malayalam, Tamil, and Telugu has witnessed the fastest growth in the vernacular in the last four years in FY23.The highest contributor to OTTA with the non-film genre was Punjabi music (39%) across all states.
India’s vast film industry continues to play an enormous role in the music sector, with soundtracks from films reputedly accounting for 80% of the country’s music turnover as per IFPI reports. According to KPMG’s survey in India, Bollywood music accounted for 50% of total consumption in the country. Another 30% was allocated to regional music (including film and non-film music), with the remaining 20% going to international music.