Tuesday, September 15, 2020

IMI boss says there are only 1m music subscribers in India | Music Ally

Blaise Fernandes is the boss of Indian music industry body IMI. He’s been talking to Exchange4Media about the challenges for the streaming music market [‘audio OTT’ is the preferred phrase there] in India.

“OTT is our growth engine and data published by OTT players indicated a 40% growth rate on the 1st half of CY2020,” said Fernandes. “The problem lies in a very low subscriber base in India. It is estimated that the combined paid subscribers will be just about 1 million.”

Fernandes went on to estimate that there are around 300 million monthly active users of audio streaming services, so that’s a conversion rate of just 0.33%.

“IMI is optimistic that the Indian consumer is ready for a subscription model, but the rates will have to be tiered,” he said. “There has to be multiple price points offering services and options based on what the consumer pays.”

Stuart Dredge

[from https://ift.tt/2vCxqPg]

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