Contact us anytime to know more — Abhishek P., Founder & CFO CISIN
Businesses can make a lot of money by entertaining everyone. Creating services for music streaming apps took less time.
It's simple to understand why music streaming apps are so popular. These apps allow users to easily listen to their favorite songs and tracks.
These music streaming apps allow you to listen to the most popular songs by pressing a few buttons.
You can create your own playlist and personalize it to suit your needs. You only need an active internet connection and a good music streaming app.
You can find many music streaming applications on Google Play and the Apple Store. These apps have a large user base and are popular with young people.
These apps offer lower subscription costs and are very popular.
Many businesses and entrepreneurs are searching for ways to make big profits and get in on the market. This guide will explain the features and costs of entering this music-streaming mobile app development market.
This guide will greatly assist you.
Market Overview Music Streaming Apps
The music streaming app market grows in popularity and profitability year after year. It is difficult for new apps to compete with popular ones like Spotify and Pandora.
These platforms have been attempting to build large user bases for over five years.
Statistics show that mobile app revenue has grown by more than 500% in the past year. According to statistics, the revenue growth for 2019 was more than $100 billion based on the year–to–year growth up to 2023.
The music streaming app venture will generate a lot of money because of its growing user base. The graph below depicts revenue growth over the last six years.
Media Research created the graph below, which depicts a regular update of music streaming apps and global subscribers and shares.
The Amazing Benefits of Music App Development
Technological advances have made it possible for people to change their tastes and preferences, whether listening to music or watching videos.
The days of having cassettes and the ability to download audio tracks of your favorite songs are gone. Everything is now just a few clicks away.
This lucrative market is attracting more businesses than ever. These are some incredible business benefits that on-demand music streaming apps can bring to your company.
- The digital music industry will grow yearly, and the public's attention will shift to online media over traditional methods.
- Music apps have been the most used technology in the past five years. Music streaming application developers can look forward to a bright future.
- The online music streaming market worldwide is predicted to grow to $10 million by 2023. This is an excellent time to invest to reap the benefits.
- You can personalize your music collection and make recommendations to reach a large audience through music streaming platforms.
Different Music Streaming Apps
There are three main types of music streaming apps because people have different musical preferences:
Server-Based Music Collection
This category offers many options for music lovers. Unlimited music is free, or subscribers can pay to access more advanced features.
Users can download songs and create playlists based on their subscriptions. Two examples are Spotify and Apple Music.
Radio Station
Digital radio stations and music have been created to appeal to music fans and increase their customer base. You can listen to your favorite songs while listening to the music you like.
Listen to the top songs on iHeart radio and Pandora music.
Cloud Storage
This category allows users to download and store their favorite tracks via the cloud platform. It can be listened to whenever you want.
ShoutCast and Apple Music are two examples.
How can music Streaming Apps Generate Revenue?
Spotify and other music streaming services focus on maximizing profits while providing amazing benefits for their users.
They employ different monetization strategies to maximize their earnings and revenue.
Advertisements
This is one of the most popular ways to make money online. Many popular music streaming applications earn money by providing freemium services.
Users must also read banner ads between songs. You can have ads or a premium plan.
Subscribe
Businesses can get subscriptions from developers when they develop on-demand apps. These features allow users to download their favorite tracks, skip endless tracks, and listen to high-quality music.
You can get these features by purchasing a monthly subscription. This will enhance your overall experience and raise your level of satisfaction. It costs money to develop an app like Spotify.
Promotions
Spotify and similar apps generate a lot of money because they provide all artists with a free promotional tool called Spotify Ad Studio.
They can also use campaigns to promote their songs and albums. Spotify charges a fee for campaign management and development. These prices are determined by your price range.
Top Music Streaming Apps Market Players
The music streaming market is dominated by a few major players. Because these apps are so popular, many companies want to enter the music streaming market.
These apps allow users to listen to whatever they want, with unlimited access to songs and albums by different artists.
These are our top six favorite music apps for millennials.
Features to be Comprised in Music Streaming Apps
Hire mobile app developers A top mobile app development company will outline the essential features your music streaming app must have.
These are the features that made apps so popular.
Users & Admin Panel Features
These are the essential features music streaming apps must have to be attractive to users.
Register
It is possible to make it simple for users to sign up, which is one option for speeding up the app development process.
Users can sign up by entering their email address, password, or credentials from other social media accounts.
Search Bar
You can search the bar for any song, artist, or album title.
My Music
Any song or track can be downloaded instantly by users. Users can also create a playlist that they can delete or share.
This playlist can be shared via social media. You can also add artist screens to display the most downloaded tracks and albums.
Music Player
A user-friendly music app is essential for a business to be successful. You can create multiple playlists with songs, albums, and artists.
Setting
The app can be aided with audio and settings to make it easier for users. The settings can be adjusted to meet your preferences and needs.
You can have automatic downloads or sync with another device.
Offline
This feature can impact the overall cost of developing an app like Spotify. This is the most used feature. All songs can be listened to from any device, even without internet access.
This allows users to save premium audio content data to their local storage.
Recommendations
They will be able to receive relevant suggestions no matter what music they listen to. It allows businesses to communicate with customers most efficiently.
It allows users to listen to and receive suggestions for songs they like.
In-App Messages
The messaging feature allows customers instant answers and flexible support through simple text messages.
Push Notifications
Notifications are an excellent way to keep users updated about new songs and discounts.
What is the Cost of Building an App like Spotify?
Answering the question "How much does it take to make a music streaming service?" requires an analysis of several factors, including the features it will include, the platforms it will launch, and the country in which your music streaming company is located.
As we have seen, creating music streaming apps on Android and iOS can cost between $45,000 to $250,000. The app's features, technology stack, and overall complexity can impact costs.
Let's now go over each of these factors in more detail.
Read More: What is the Cost of Developing Music Streaming App?
App Complexity
Cost is directly affected by the complexity of an app. A complex app will have more features and cost more than one with fewer features.
Let's see if we can estimate the cost of music streaming apps on iOS and Android based on their overall complexity.
UI/UX Design
An app's success is directly affected by its UI/UX design. This will increase engagement and retention rates. App development costs can vary because the app design must be tested multiple times to ensure a seamless user experience for the target audience.
App Platform
Another factor influencing the app development budget is choosing the right platform to create a music streaming app.
You can choose to develop your app for either iOS or Android, or both.
Although there is a negligible cost difference between iOS and Android app development, it is recommended that you choose one audio streaming platform first.
Then, work slowly to build up your app's popularity.
Size of the team
The cost of music streaming apps directly depends on the size of the team that is hired to create them for Android and iOS.
It is often recommended that you outsource your app development project to an experienced team. This team can provide you with professional expertise at a lower cost.
- The location of the app development agency
Your overall app development budget will be affected by the location of your app development agency.
If you are looking to hire an agency in Asia or Africa, your hourly development costs will be significantly lower than those in the US and UK. Below is an estimate of the rate of development for different regions.
Region Hourly Rate for Development
US- $95-$100
Western Europe- $80-$90
Australia -$70-$90
Eastern- Europe $50-$55
Asia- $25-$40
Maintenance
Launching the app on the app space is not the end of the app development process. It is important to put in a lot of effort to ensure the app runs smoothly and is free from bugs.
Additionally, it is important to integrate modern technologies according to market needs to ensure that your app will be a success. The maintenance costs directly affect the overall cost of music streaming app development.
Tech Stack
The app's success in the marketplace depends on its tech stack. Modern technologies can be used to support your app and ensure maximum ROI.
Some easy-to-learn technologies and frameworks are used in the technical stack of popular music streaming apps on iOS and Android.
Feature-List
The budget will directly affect the features you integrate into your music-streaming application. An app that offers a wide range of features can give you an edge and increase user satisfaction.
We are now ready to look at the features and development time required to make your music-streaming app successful.
Features and Development Hours of the Music Streaming App
It would be helpful to identify the features available in the top music streaming apps on mobile devices when discussing their features for your brand's app.
This is a list of features you should include in your music streaming app.
We also included the time it would take to create each feature. This would allow you to get a cost estimate you can expect from a music app developer company.
Read More: Must-have Features and Costs Involved in Music Streaming App Development
Register
Your business model will determine whether you include a registration function. You can offer your users an open, free service that doesn't require you to ask your app's users for their credentials.
However, most businesses prefer a freemium model.
It is essential to obtain user sign-ins to make a freemium model work.
The development of the registration feature takes between 40-60 hours
Search
A music streaming app allows listeners to find the music they like and to set the music according to their mood.
Businesses should add a Search function to their app to make this possible.
This feature will allow users to search for their favorite songs, albums, or movie tracks.
It would take between 110 and 140 hours to add a Search function to the music streaming app services.
Playlists
Nothing beats collaborating with a mobile app development company to provide listeners with a platform where all their favorite tracks can be saved in one place.
They can also categorize based on their mood.
Here is where the Playlist feature comes in.
The development of the Playlist Feature takes between 70 and 100 hours.
Social sharing
Music streaming apps can benefit from social media promotion as well. If you allow your users to share their favorite song or entire album via social media, your brand will receive much word-of-mouth advertising exposure.
A music app development company takes approximately 65 to 70 hours to add the social sharing option to the mobile app.
Mode Offline
This feature allows you to give your listeners the ability to listen to songs while on the move without requiring an internet connection.
The offline mode uses the device's internal storage to store audio data.
The development of an offline mode takes between 60 and 70 hours.
Recommendations
Users will receive different music and song recommendations based on their download history, playlists, and other factors.
These new suggestions of music genres and other suggestions will help increase app engagement and user retention.
The development of recommendation features can take anywhere from 100 to 150 hours.
What is the time it takes to Create a Music App?
It takes, on average, 344 hours to create a music app. A music app can be created in as little as 133 hours or as long as 533 hours.
The complexity of your app will determine the exact time frame. It will take longer if your app has complex designs or features that are not standard.
Building A Music App Is Not Without Its Risks And Challenges.
Legal issues for music apps include the ownership of intellectual properties and logistics related to licensing copyrighted material.
It is important to comply with all applicable laws in your state regarding copyright use and distribution and to have a mechanism to report violations of your Terms and Conditions. It may be worth considering implementing a mechanism to monetize your app via purchasing or distributing copyrighted material.
How To Make Money Using A Music Streaming App
It doesn't matter how great your app idea is or how well it was developed to produce amazing results. What matters is whether it adds profit to your company.
You need to have a clear revenue stream and a business model to help you maximize your ROI to make money with your music-streaming mobile application.
A well-defined business plan will help you to mitigate risks and ensure sustainable revenue. These are some of the monetization strategies you can use for your app.
In-App Ads
In-app ads are a way to monetize your services. These will be displayed to the user via an audio-streaming server as an image or video while the user switches between tracks.
One of the best ways to increase your overall revenue is to allow users to advertise on your audio streaming platform.
Paid Membership
You can use a membership revenue model to increase your user base and ROI. Users can subscribe to your app every month or annually.
This highly sought-after revenue stream guarantees customer retention and recurring profit.
Premium Model
Offering premium subscriptions to your users is a way to increase revenue if you offer your app for free. Users can only download and listen to some of the most popular music genres with a subscription package.
This will allow you to monetize the blockbuster content.
Coupons and promotions
Multiple seasonal coupons can be used to get a variety of services. Your services can also be discounted during the festive season, which will help increase subscriptions.
These are just a few ways you can make money with your Spotify-like music-streaming advertisement. Let's now look at how Cisin can help us leverage our innovative ideas to make our app successful.
Lyrics Display
This is a great feature to keep users returning to your music-streaming app. Apps will now be able to show the lyrics of songs to users in the background, increasing user engagement.
AI technology can handle the integration of lyrics.
The development of display features for lyrics takes between 80 and 90 hours.
Push Notifications
Push notifications can increase user engagement. They provide users with timely notifications about new songs, music genres, and videos, even if they're not using the app.
The development of push notification features can take anywhere from 80 to 90 hours.
We have now looked at the current and future market for music streaming apps on iOS and Android. The features should be in your Spotify-like apps, along with the development time required to create them, so let's move forward and talk about how to make money from a music streaming app.
Conclusion
To increase its chances of being ranked in the top charts and to grow its user base, a music app must quickly gain new users.
The app will be able to generate more advertising revenue which can be used to improve its services for its users. An app for music should try to distinguish itself from other online streaming platforms, such as Spotify and Pandora, by providing exclusive content unavailable elsewhere.
You might be able to interview musicians and see behind-the-scenes footage.
