Create a Spotify Clone: Occupy the top spot in the music streaming industry/ Develop a Spotify Clone App: Connect artists with listeners
Hearing songs is quite effortless now. The power of the Internet and the availability of smartphones has contributed to this trend. A Swedish platform is a trendsetter in this. Yes, it is Spotify. With a monthly user base of more than 381 million, the music streaming giant is ruling the market. Likewise, entrepreneurs can come out with a Spotify clone with similar features and functionalities.
Analyzing the lucrative business model offered by an App Like Spotify
- Subscription Plans - Premium music listening subscriptions are the main source of revenue for Spotify. For instance, it provides plans like Premium Mini (weekly), Individual, Duo, and Family. How do users benefit from it? They get advantages like cross-platform compatibility, ad-free play, download of songs on numerous devices, and offline listening.
Techpreneurs like you can provide attractive packages for students and working professionals. Hence, this will lead to a steady inflow of new users.
- Advertisements - Non-paying users would listen to ads in between songs, as well as before the start of a chartbuster. You can encourage brands to conduct promotional campaigns on the music streaming platform.
The pricing can be modified based on the target audience, location of the corporate enterprise, length of the promotional campaigns, and numerous ad formats. Are there various ad formats to choose from? Yes!.
Organizations can choose audio, video, and podcast for showcasing their products and services. How are the campaigns implemented? Ads are published between 2 songs and real-time stats are available about active listeners and clicks on catalogues.
It works on the Self-Serve Advertising (SSA) mechanism and marketing efforts can be done for both music and podcasts.
Programmatic Digital Audio and Video Ads - Advertisers across the universe can use the power of programmatic advertising on Spotify. Brands have 2 options in their hands. They can select either Private Marketplaces (PMPs) or Programmatic Guaranteed (PG).
It functions on a first come first serve basis (FCFS). Corporate companies have to fix an auction, set a floor price and accept bids from investors. However, Programmatic Guaranteed campaigns work differently.
Brands must fix a certain budget for their campaign and launch their products on a certain date. They will know the number of impressions and data about their target audience.
Eventually, brands will receive more revenue as users will purchase their products and services after being redirected to their website.
Royalties paid out to artists - Musicians would pocket 2 kinds of royalties by uploading their albums and songs on the music streaming platform. They can claim a fair share of the revenue for both recording and publishing of songs.
Artists will receive recording royalties from the official licensor. On the other hand, publishing royalties are given to lyricists and owners of compositions.
In other cases, publishers will receive royalties based on the location of the users. The person who holds rights to songs will get the royalties depending on the times users (premium and non-paying) play the song.
Importantly, artists get payments every month. Their share depends on the revenue earned from subscription fees and advertisements.
Moreover, the income of artists will vary based on the number of times the music is streamed and the agreements signed with top music labels and distributors.
Crucial Features of a Spotify Clone are
Data-saving mode - Music enthusiasts can reduce their Internet consumption by using the data saving option. This will automatically turn their audio quality from normal and high to basic.
Audio play change modes - Automix, Crossfade, Gapless, and Equalizer options are the various options available for users. They can adjust the volume for all tracks, continuously play songs, and also switch from one number to another seamlessly.
Real-time notifications - Users will receive updates about the launch of new albums and the release of podcasts. Therefore, music aficionados can switch on or off the alerts as per their requirements. Hence, they will never miss a blockbuster number.
Social media login mechanism - Users can instantly sign in on a Spotify like streaming platform. They can link their email addresses, instant accounts on messaging apps, and profiles of social networks. Therefore, they can start listening to songs quickly.
Category-wise segregation of content - A streaming platform like Spotify will help users listen non-stop. Members can choose podcasts and also divide music based on genres and languages .
Soundtrap - It is a state-of-the-art tool for music producers, podcasters and storytellers. They can use options like automatic transcribing of voice, direct upload of recordings, swift editing of music, and real-time collaboration with fellow singers. Moreover,
Playlist creation - Users can create their own playlists on a Spotify like streaming platform. They can add a list of songs, name them, and later with their colleagues and friends. Moreover, they can separate their playlists based on individual artists and tracks.
Add to Favourite - Listeners can save a lot of time on an app like Spotify. Users can add a list of albums, artists, podcasts, playlists, and songs in the Favourite section. They can start playing their favourite numbers quickly.
The cost of creating a Spotify clone depends on:
- Choice of free and premium features added to the music streaming app.
- Level of customization needed by entrepreneurs
- Duration taken to develop the Minimum Viable Product (MVP).
- Hourly/Weekly rates paid to software developers.
Wrapping Up
Spotify is continuing to move up the paradigm in the music streaming sector. It has also come out with audiobooks after acquiring Findaway. This will help users hear the thoughts of award-winning authors and leading publishers. You can also make a storm in the audio space. Get hold of a Spotify clone from a prominent app development company soon.