For millions of people across the world, listening to music is synonymous with streaming music. Heading to 2020, streaming was taking the music industry to new success heights. Then came the COVID-19 outbreak, which canceled new album releases, live concerts, and other events. As the revenue from live music shows and concerts almost ceased, many artists started to rely on income from music streaming services, again increasing the popularity of streaming. With the global music streaming market size valued at $20.9 billion in 2019 expected to grow at a CAGR of 17.8 by the year 2027, the opportunities are great for new players. If you are planning to create your own music streaming app, this blog has got valuable information which can help you get started. Here is a guide to starting an audio streaming business, step-by-step.
Creating a plan
Before getting into developing your streaming app, prepare a detailed plan for the entire project. Start with finding a niche; not all niches in the music streaming industry are taken. Find out a niche that has demand among consumers. Study about the people who are going to use your music streaming app. What are their demographics? Why do they need your streaming app? Tailor the features and functionalities of your streaming solution to match the requirements of your target audience
Audio licensing is necessary for audio streaming
When you begin, think about creating a licensed structure for your audio streaming service. Depending on your locations to launch your streaming platform, you might have to obtain licenses to run your business. Licensing is a critical factor if you want to allow your users to upload audio tracks on your platform.
Decide on the type of streaming website you want to build
You have decided to launch an audio streaming service, but have you finalized on what type of service you want to launch. There are different types of music streaming services in the market; let’s explore them one by one.
- Music sharing services
- Podcast and music services
- Music streaming services
- Radio apps
- Advertising
- Paid subscriptions
- Transactional
- Account creation and social login
- User profile authorization
- Smart search
- Audio streaming
- Playlist
- Upload audio tracks
- Download
- Push notifications
- Settings