Audio streaming has risen in popularity- from trending music, audio books to podcasts, the appeal to audio-only streaming has increased significantly due to its easy functionality as you can listen to music or podcasts on-the-go, in the middle of something. All kinds of businesses, organizations, and individuals are broadcasting audio streams. In this blog, we will explore the concept of how to host your audio streaming platform and monetize your content.
When it comes to hosting your audio streaming platform, there are two main types: on-demand and live
On-demand audio streaming examples includes podcasting and music streaming platforms like Spotify where listeners can just plug in and play any music, any time. Content is always available in an archive, stored in your audio content management system.
Live audio streaming is a platform where audio is streamed live, like internet radio. Businesses may use live audio streaming for a single event or broadcast, after which they can make the recording available on-demand.
Did you Know? In 2019, music streaming revenue hit 11.4 billion U.S. dollars worldwide, more than 28 times the figure recorded a decade ago.
Businesses like education, comedy, music, religion and other diverse sections are getting involved in setting up live audio streaming platforms. Most of these businesses while setting up an online business face technical problems, including the most common problem of where to host the audio files. This is where a cloud streaming server comes to the forefront- Muvi Server, an enterprise-grade cloud streaming hosting platform.
One of the best things about Muvi Server is that it lets you host, manage, and deliver multi-format audio and video files across devices and platforms. Also, it is adaptive streaming enabled which controls bandwidth consumption while ensuring superior user experience.
What goes hand-in-hand after you host your audio streaming platform, is content monetization. In the world of audio streaming, there are mainly two kinds of monetization options- ad-based model and subscriptions. However, broadcasters can opt to use pay-per-view, but this isn’t as popular as the other two.
1. Ad-based Model– Music streaming giant Spotify which launched its freemium service to provide access to 50 million free tacks to its users. But, here’s the catch – Spotify’s freemium service isn’t entirely free – it is ad-supported. Incorporating advertisements in your music streaming platform can open a whole new vista to gain revenue. There are two ways you can do this- by playing in-content ads and through display ads. When your users click on them or take any action through them, you get paid. So the more people visit your platform, the more are their chances of clicking them.
2. Subscriptions– Most audio streaming platforms monetize their content by enabling a premium ad-free plan for a minimal cost. There are millions of listeners out there who would love to pay for uninterrupted music streaming. A paid subscription plan generally includes high audio quality streaming, track download, shuffle play, unlimited skips.
Muvi Server includes a built-in paywall and supports multiple credit cards and payment gateways, as well as multiple currencies. This provides audio broadcasters the option to quickly host their audio streaming platforms and monetize premium content.
3. Pay Per View Option– Using pay-per-view is another common way of monetizing your audio streams. The listener has to pay a charge for access per audio track or for access to a series of entire audio tracks/album.
Muvi Server is multiple monetization enabled and supports subscriptions, ad-based streaming as well as pay per view model allowing you to monetize your content in whichever way you want.
For more information on monetizing your audio content, read our blog How to Generate Revenue from your Music Streaming Platform?
Creating an audio streaming website is really easy- all you need is a hosting provider like Muvi Server. For creating a music/audio streaming website, follow these steps-
Also Read: Now, start streaming audio tracks using Muvi!
The perks of hosting your audio streaming platform with Muvi Server are many:
1. Muvi Server supports audio tracks in multiple formats, from MP3, WAV, ACC to Ogg, so that you don’t need to worry about converting your audio library from one format to another
2. We support out-of-the-box integrations for leading payment gateways from across the world like Adyen, Stripe, PayPal, Authorize.net
3. Audio streams are delivered via HLS streaming protocol which ensures compatibility across any device.
4. With Muvi Server, you can also stream audio in multiple bitrates, from low to excellent quality. Adaptive bitrate streaming will allow your listeners to automatically be served with the best possible quality given their internet speed.
Audio streaming is growing popular with every passing year. According to Statista, in the first quarter of 2020, the number of music streaming subscribers worldwide amounted to 400 million. The appeal to audio streaming is because it consumes less bandwidth than video streaming and also because of the fact that it’s convenient for listeners to tune into an audio-only stream while doing daily chores.
Try out Muvi Server to host and monetize your audio streams without hassles! Take a 14-day Free Trial, now!
Written by: Sreejata Basu
Sreejata is the Manager for Muvi’s Content Marketing unit. She is a passionate writer with a background in English Literature and music. By week Sreejata spends her time in the corporate world of Muvi, but on weekends she likes to take short hiking trips, watch movies and read interesting travelogues.
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