https://www.prismetric.com/cost-to-develop-a-music-streaming-app/
Want to develop a music streaming app? We have got everything covered for you, right from cost estimation, business model, app features to monetization options & more.
Music is one thing that is loved by people of all generations. Whether young or old, everyone grooves to the beats when they listen to their favourite song. With the advent of technology and smartphones becoming easily accessible, the listening habits of the users have gone through a paradigm shift. Therefore you see a plethora of live music streaming apps booming on the app stores on both the leading mobile OS platforms. Also, as we have data at minimal rates, on-demand music streaming mobile apps become the most viable option for music lovers to listen to their favourite track. This has fueled the idea of developing music streaming apps to an extent as compared to the other trending app ideas while keeping an eye on the future.
The music apps provide hassle-free access to the users to their favourite track. Nowadays, people don’t have time to go through an entire list of songs, sort them out, make their playlist and then listen to them. Instead, the users just get online and are just a tap away from listening to a song they like the most. The music available for streaming in such apps can be customized according to one’s likings and you just need access to the internet to immerse into the world of music.
Stats on Music Streaming Mobile Apps
Here’s some interesting information to streamline your knowledge about the meteoric rise in the revenues of the on-demand music apps.
If we go by the stats, in the past six years, i.e. from 2014-2020, the revenue of music apps have increased to more than 500%. In addition to this, since 2019, the growth in revenue has been expected more than 100 billion USD on a year-on-year basis up to the year 2023. Thus, the day by day increase in the number of users will ensure a goldmine of revenue for the music app business.
The seamless connection even on low bandwidth is one of the main reasons behind the popularity of the music apps.
Why do you need to build a music streaming app?
With the advent of technology, consumers’ habits of listening to music have also evolved. Nowadays, you don’t find people collecting records or cassettes of their favourite music artists as everything is available to them in their smartphone.
Music streaming mobile apps provides a plethora of options to the users and satisfies their music needs and demands. These apps will attract a wide range of userbase for the organizations and help them to expand their business by leaps and bounces.
Below are the reasons why you should opt to develop a music streaming mobile app
🔹 Digital music is here to stay as more and more people are shifting towards the online medium for their music
🔹 The global online music streaming market is forecasted to rise and exceed the mark of $10 billion by the year 2023. Thus, this seems to be the right time to jump on the bandwagon and enjoy the rich results
🔹 With the proliferation of technology, especially in the last five years, music apps have been one of the most sought after apps and thus holds a great future ahead for the companies
🔹 Apart from providing music on-demand, the organization can woo the customers through other means such as including podcasts, movie reviews, etc. and increase customer retention
🔹 The music apps provide a synchronized library of music according to likes of the user. It suggests the users their favourite music numbers with the help of latest in-vogue techniques using artificial intelligence and big data.
Easy access to the internet around the world has rocketed the consumption of music online by the customers, and thus, the business world has seen a steep rise in the number of live music streaming apps in the recent past.
Music apps too have diversified themselves according to the needs and want of their targeted customers. Apart from music, now you can find podcasts, movie reviews, audio interviews, motivational lectures, etc. in the music apps.
Types of Music Streaming mobile apps
As people have different tastes in music, there are three major categories of music apps present in the tech realm.
🔹Radio Station: Various radio stations have gone digital in order to reach more number of audience as people these days prefer their phone over listening to a separate radio set.
🔹 Server-based Music Library: This kind of music app provides a plethora of options to the user. It offers unlimited access of music to the users under the free access or paid subscriptions which are already added in the app. Based on the subscription the users can download or create their own playlist here.
🔹 Cloud Storage: Here the music streaming apps let the user store their favorite songs over the cloud platform and listen to them whenever they feel like.
How much will it cost to build a music streaming app?
Various factors play an important part in deciding the estimated cost of an on-demand music app. The estimated cost depends largely on the features and the technologies that are to be integrated in the music app. In addition to this, the location of the music app development company you opt for as your partner, number of mobile OS platforms you want the app for, etc. also plays a vital role in determining the cost.
For example, the hourly rate at Eastern Europe is comparatively very low as compared to North America. Also, the rate in South-Asian countries, especially India is even lesser as compares to their European and American counterparts.
If you want to develop a music streaming app with the basic features, it will cost you around $25000 to $60,000. On the other hand, if you wish to include all the high-end features in your music app, it will cost you about $85,000 to $160,000.
