New Delhi, July 8 -- "We want to focus on other interests now. This just isn't working out," a senior executive at an entertainment company told Mint recently, resignation writ large in his voice.

He was referring to his company's decision to shut its audio streaming service, which ran out of steam after battling tough market conditions for over a decade.

People simply do not want to pay for music, the executive, who didn't want to be identified, indicated. "The paid subscription model hasn't taken off in India, and it doesn't make sense to continue to rely on what is an uncertain advertising tier," he explained.

Other industry executives agree with that assessment.

Things have rarely been this bad for the music business in India, acr...