Launching a music streaming platform requires strategic planning, licensing, and technology—this guide simplifies the process for you. Continue reading
With millions of users globally, launching music streaming platform offers lucrative revenue opportunities for artists and businesses. Spotify, Apple Music, YouTube Music, and Amazon Music, are shaping the market trends and redefining music listening experiences.
If you also want to launch music streaming platform and earn a potential revenue stream, then this guide will help you to get started. From launching the streaming platform to defining essential features and monetization models, this blog covers everything. Learn how Muvi One can simplify the entire music streaming platform development process, enabling you to go live faster and smarter.
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In the last few years, the music streaming market has witnessed exponential growth both in terms of subscribers and revenue. According to Statista, music streaming subscribers worldwide amounted to 713 million in the last quarter of 2023.
The global music streaming market was valued at 19.3 billion US dollars in 2023 and is expected to grow at a CAGR of 4 to 5% between 2024 and 2027, resulting in an estimated market volume of 33.9 billion US dollars by 2027.
The U.S. and U.K. continue to be the biggest music streaming markets in the world. But figures also show that India, China, Brazil, and MENA countries will experience fast growth due to expanding digital streaming infrastructure and may rank among the top global music streaming markets by 2026.
The global market is dominated by a few major music streaming platforms – Spotify has 31.7% market share, which is nearly a third (600 million active users worldwide with more than 200 million paying subscribers), Apple Music has 12.6% market share with 93 million subscribers globally, and Amazon Music has 11.1% global market share with 82.2 million subscriptions.
Millennials and Gen Z account for the majority of users due to their increasing appetite for podcasts and genres like hip-hop, lo-fi, and pop music. Such listening behavior has led to an increase in premium ad-free music streaming subscriptions, which is why many artists and music producers are aggressively betting on building their own-branded music streaming platforms.
Now, talking about the latest technological trends in the music streaming industry. AI-based personalizations for tailored playlists and music recommendations along with IoT device integrations with smart speakers (Amazon Echo and Google Nest) are setting new trends for music streaming.
If you’re considering to dive into the music streaming space and launch music streaming platform like Spotify or Apple Music, the following step-by-step guide will help you navigate through the no-coding music streaming platform development process.
Understanding your target market is crucial and the very first step to build a music streaming platform. Analyze your target audience, their demographics, listening habits, and music preferences.
Study the selling points of competitors and identify the potential gaps that you can fill up. Also, explore the scope of emerging market trends such as high-quality lossless audio format, podcast integrations, and AI-powered music recommendations.
If you are an independent artist or have your own music production house, you can simply stream your singles or albums on your music streaming platform. But to drive a good volume of subscribers and revenue, it is essential to expand your library and showcase a diverse range of music and genres.
Music streaming experts often recommend obtaining legal licenses for streaming music online. Secure music licensing deals by establishing exclusive collaborations with independent artists & big-branded music labels and buzz up your music library.
Building a music streaming platform like Spotify/Apple Music involves a lot of technicalities like frontend, backend, cloud services, hosting, database management, and audio streaming protocols. Managing all these technical aspects requires a dedicated IT team, which comes at a hefty cost. This is where Muvi simplifies the music streaming platform development process with its ready-to-use fully-featured music streaming platform.
Muvi One is a no-coding audio streaming solution exclusively integrated with end-to-end OTT features like cloud hosting, unlimited music storage, powerful CDNs, an online audio player, and multiple monetization options for successful revenue-generating music streaming. Every feature or integration that is critical to high-quality music streaming is already available in Muvi One. All you need to do is sign up, upload your music library, and go live instantly. No coding is required.
Launch music streaming platform with zero coding and minimal technical effort. Get started with Muvi One now!!!
Customizing your music streaming platform is very easy with Muvi One’s CMS. You can enable your desired music streaming template, add logo, tune the color theme, and set your own brand identity, all from one dashboard that too without any technical skills or expertise.
While uploading your music albums, you can create as many categories as you want and also modify the metadata with precise information. You can even customize the encoding process and regulate bitrate configurations from the CMS. In case, you need any further customizations that require an expert’s help, you can always raise a support ticket and expect a quick response.
A majority of music streaming users prefer listening to their favorite playlists on their smartphones. Catering to their music-listening behavior, launching your own-branded music streaming app like Spotify on both the App Store and Google Play Store is highly recommended.
You can also launch your music streaming apps for Smart TV ecosystems like Roku, Android TV, Fire TV, WebOS, Samsung TV, and Vewd TV. With the one-click app deployment feature, Muvi One allows you to create and launch music streaming apps for multiple devices instantly without any coding and technical stack integrations.
Want to create your own music streaming app like Spotify/Apple Music? Sign up to launch now!!!
To enhance user engagement and retention on your music streaming platform, it is essential to include core as well as advanced features. Here are the must-have audio streaming features that you must enable when launching music streaming platform with Muvi One.
Muvi One’s built-in multiple monetization models enable you to monetize audio content successfully. Depending on your target audience’s preferences and streaming habits, it’s up to you to choose a profitable revenue model from the following.
Launch music streaming platform and earn profitable revenue using Muvi One. When starting out in the music streaming industry, we recommend enabling ad-based music streaming for better audience reach and growth.
If you’re still not sure which monetization method to choose for your music streaming platform, please feel free to initiate a 1:1 discussion with our OTT monetization experts.
Launching music streaming platform with Muvi One solves all your technical issues like storage management, server downtime, lag-free audio streaming, sign-up error, user experience, and more. But there are other challenges you may face.
Developing a music streaming platform like Spotify/Apple Music may cost around $ 60,000 to $80,000 depending on the streaming features, design complexity, and technology stack. The key cost factors mostly involve server charges, front-end and back-end development costs, music streaming platform fees, payment gateway charges, and human resource costs.
If you are not ready for this heavy upfront investment, you can choose Muvi One’s cost-effective no-coding OTT solution and launch music streaming platform instantly. With customizable templates, multi-device compatibility, and integrated monetization options, Muvi One minimizes upfront investment while ensuring scalability and feature-rich functionality. So, why wait further!!!
Get Started with a hassle-free music streaming platform development. Take a 14-day free trial of Muvi One now!!!!
System Design Of Music Streaming App: Everything You Need to Know
The cost of creating a music streaming platform varies from $50000 to $100000, but with Muvi One, you can launch your own feature-rich service affordably through customizable, no-code plans tailored to your needs.
Written by: Richi Milan
Richi is a passionate content marketing enthusiast with hands-on experience in strategizing and creating compelling content. Currently, working with world's best OTT platform provider - Muvi. Dive-in and explore the OTT-verse with Richi!!
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