Spotify India Music Economy Grows 29% in 2023

Spotify, the global music streaming platform, announced that its music economy in India expanded by 29% during the last fiscal year. The growth was driven by increased listening activity across a wide range of languages, including Hindi, Tamil, Telugu, Bengali and others. The company highlighted that the surge reflects a broader trend of digital music consumption in the country. While specific revenue figures were not disclosed, the percentage jump underscores the platform’s growing penetration among Indian users. Industry analysts suggest that the multilingual boost could further strengthen Spotify’s competitive position against local streaming services.