Did you know that the global music streaming market size will grow over USD 60.5 Billion by the year 2026? This indicates a CAGR of around 16% for the given forecast period.
Just like the video streaming segment, the audio streaming industry is also on the rise. You will be amazed to learn that the music streaming revenue accounts for over 56% (2019) of the total worldwide recorded music market revenues.
One of the major advantages that the audio streaming segment has over the other media formats is that it allows the user to multi-task easily.
Let’s delve deeper into the 7 most prominent benefits of creating an audio streaming platform in the contemporary.
Why You Should Create an Audio Streaming Platform in 2021?
Music app development will help to provide you with an edge over the competition without a doubt. Here are some of the most interesting benefits to build an audio streaming website in the contemporary for content creators.
1. The Go-to Platform for Listening Music
Gone are the days when people used to wait for music to be broadcasted on radio or television channels. Audio streaming websites like Spotify offers a rich user experience and is the go-to option for music lovers, who want an uninterrupted music streaming experience.
2. Exciting Opportunities for New Talent/ New Talent Exposure and Discovery
The advent of audio streaming software and platforms have made it easier for new artists to reach a large number of audiences even during the early stages of their career. Music and audio enthusiasts can seamlessly discover new artists/talents on these platforms. It also helps to organically market their content. Audio streaming platforms in today’s era have increased the opportunities available for new artists by providing them with the needed exposure.
3. Hassle-free Music Distribution
Imagine a time when people used to ring doorbells and convince others to listen to their song before that song was released to the mainstream audience. Yes, that was how music distribution would start in the pre-internet era. Music streaming platforms have made it easier for artists to distribute their songs and remixes using various channels in the network. It tremendously eases the pain for the new artists.
4. Eradicates music piracy
Piracy is mainstream in today’s digital era and it leads to loss of revenue for those creating the content. Audio streaming platforms help to eradicate music piracy to a great extent. Artists can generate revenue through these platforms even when users are listening to music for free. This is different from the pirated websites that helped people download the audio content for free without compensating the artists/creators. Create music streaming app today to eradicate piracy.
5. A good passive income stream
A majority of music or audio streaming solutions distribute around 50-70% of the money generated to the artists. This helps the artists and creators to generate a decent passive income source by uploading their content on these platforms. This might seem less than fair but when you compare it with the traditional sources, it is a far better alternative that gives the major chunk to the artists.
Music app development/platforms can help the artists and creators to build a strong personal brand and deliver music they want to create for their targeted audience segment. If you make an audio streaming website or a live audio streaming service, you will have much more freedom and flexibility for the creators and broadcasters.
7. Tracking audience behavior using analytics
Most music streaming platforms have an integrated analytics solution to track and monitor user behavior. It is a powerful tool that provides you with deeper insights into your audience’s behavior. You can derive meaningful inferences and upload content that your audience might like.
Creating online music streaming app development today is easier than ever and requires little to no technical knowledge. Musicians, podcast creators, and other artists should not miss out on this golden opportunity to create a robust brand in this segment. Make your own music app or build a music website using a reliable service provider today and bank on your talent.