What is the revenue pattern of music streaming apps like Spotify?
The music streaming apps rule the marketplace with their umpteen catalog of songs and rich features. We all know about the Spotify app. It is one of the global leaders in music streaming apps. Stats show that Spotify has an annual turnover of 6.76 billion euros. This sum is quite unimaginable, yet the app has managed to gain this sum in less duration. If you wish to replicate their business model but with distinctive features, we have got your back. Yes, you can develop a music streaming app similar to Spotify yet with different features with our solution called Spotify clone script. Here, you will gain knowledge on the features that you can customize and the revenue pattern of the music app.
Search the song- As the app has a multitude of songs, the user can search for a specific theme or genre by entering the name on the search field.
Trending tracks- Keep users glued to the app by recommending trending songs to them.
Download songs- Users can download songs from the app and listen to it later.
Recently played- Some users may have the craze for listening to the same list of songs. For those users, the recently played features come in handy.
Create playlists- This feature enables users to create any playlists constituting as many songs. Users can name every playlist according to their preferences.
Revenue pattern of the music app:
Premium subscription- Another stat shows that Spotify gains 6 billion Euros from premium subscriptions. The premium subscription includes specific features such as offline access, number of downloads that can be accessed by users.
Ads- As no business is restricted to the exposure of gaining revenue through ads, it is the same for the Spotify app. You can foresee a hefty income from displaying ads.