You need to offer popular content to attract more users. You also need to consider several features that you can monetize and develop a winning strategy. Here are some suggested ideas taken from leading music streaming apps.
According to our observations, two areas that help music streaming apps monetize the platform are subscriptions and advertising.
Monetization Models
You need to have a vision for monetization. This will help you speed up the development process and give you ideas for preparing a successful marketing model. At the end of the day, it’s all about finding opportunities that are hidden in the model and interpreted in a winning combination.
Subscription
The subscription model is very common. Many music streaming services give you access to unlimited music and all features once you have a premium subscription. This helps you earn income on a regular basis.
Advertisements
Advertisements are another means you can use to generate income. Youtube Music is a prime example of such a model. Spotify Ad Studios for an artist is another. The services analyze the genre of your music and show users ads based on their preferences. This makes the ads profitable for the companies and also doesn’t affect the user’s perception.