Spotify reports 29% growth in India's music economy in 2023

Spotify announced that the Indian music economy on its platform grew by 29% in the past year, marking a significant rise in streaming activity. The company’s internal analytics indicate that the surge was not limited to a single language but spanned most of the country’s major regional tongues, from Hindi and Tamil to Bengali and Punjabi. This broad-based growth reflects deeper penetration of streaming services into tier‑2 and tier‑3 markets, where regional content is gaining popularity. Industry observers note that the expansion strengthens Spotify’s competitive stance against other global and domestic players in India’s fast‑evolving digital music space. The firm plans to leverage the momentum by expanding its catalog and localized playlists to sustain the upward trajectory.