The days of walkmans, radios, and iPods, when we would spend hours browsing through the music selection, picking the songs we liked then downloading them and then paying for the service. Technology has revolutionized how we experience streaming music and has brought streaming music to on-demand apps. Over 85% of music enthusiasts now listen to music streaming services like Spotify, Amazon Music, and many others. They’ve made it simple for users to enjoy an array of music genres with a click of a button, and without having to sort and download information frequently.
As you know, Spotify is one of the most talked-about music streaming applications. Its market is predicted to reach $769 billion in 2027. It is expected to have over 433 million users as of early 2023. The number of users is predicted to grow tenfold over the next 10 years.
Wow! Pretty impressive, isn’t it?
If you’re looking to create an app that is custom-made for music streaming for your company this article can aid you in determining the music streaming app’s development cost as well as the numerous aspects that impact the price. Additionally, we’ll examine the many advantages of a powerful music streaming app such as Spotify and the many advantages of investing in custom streaming music apps.
For a quick overview, how much music streaming apps’ prices can range between $45,000 and $250,000? The numerous factors that influence the overall budget for app development include the place of the app’s development company as well as the design of the app’s UI/UX as well as the process of development maintenance, quality assurance methods, etc.
Before we go into the details on all the factors involved we’ll first let you know how to enter the Spotify market and the reason why investing in a Spotify-like music streaming app development is among the most lucrative ways of increasing your overall revenues.
Comprehending the Music-Streaming App Market: Why Should You Invest in an App Like Spotify?
Music streaming applications only came into popularity with the introduction of Spotify in 2008. Since then, the music streaming market online and offline has not slowed down in terms of customer demand as well as the market’s revenues.
The graph that is upwards is just an indication of its size of it. With music streaming platforms such as Spotify launching into the Lite trend market, the occupancy will likely rise further than the current rate.
We will take a look at the structure of the market for the category of apps which is in use today and is also a reliable look to the future for the market for music streaming apps.
According to Statista, music streaming apps are anticipated to grow to an industry part of $7.36 billion by 2027, with an increase of 6.16 percent between 2022 and 2027. Additionally, the number of users within the segment is predicted to rise to 161.3 million. 161.3 million before 2027, and the penetration of users will reach 46.9 percent.
Such statistics indicate how large the category of music streaming apps is right now, and it is potentially too.
The music-streaming app market, which is growing has also led to the emergence of competition with companies looking to join the movement.
Leading Market Players
With the growing growth of the market for apps that stream music many business owners are looking to expand their offerings to this category with the intention of winning an increase in market share.
We continue to see new businesses entering the industry every moment, these are some companies that have established themselves as the music streaming top performers
There are several reasons for an increase in the need for mobile music streaming apps for today’s millennials, and this has prompted a variety of companies across the world to increase their presence in the world of music streaming.
One of the user-centric motives is The ability to listen to whatever they like and at any time they want, the availability of a wide selection of choices, and the convenience of discovering new songs and artists as well as the ability to listen to music without interruptions.
That’s the main reason that resulted in an increase in increasing demand from users. Let’s go on and go over the cost of development as well as the numerous aspects that affect the price.
What is the cost to Build a Music Streaming App Like Spotify?
- App Complexity
- UI/UX Design
- App Platform
- Team Size
- Location of the agency
- Tech Stack
The answer to the question “How much will it cost to develop an application for music streaming” is found through the study of various factors such as the features that will be included in the music streaming app as well as the platforms where it will launch and finally the location where the development company is a part of.
As was revealed earlier in the article, the price of developing audio streaming applications on Android and iOS can range between $45,000 to $250,000. The price can rise or decrease depending on numerous relevant factors, including the app’s feature list, the tech stack employed, as well as the overall level of complexity. Let’s go over each of these aspects in detail in the next paragraphs.
1. App Complexity
The total complexity of the app directly influences its price. For example, a complex app with a large list of features will cost you more than one with fewer features and a simpler index. Let us give an estimated cost for music streaming apps that are available on Android and iOS according to their complexity.
2. UI/UX Design
A well-defined UX/UI design is among the most crucial factors that can affect the success of the app by increasing the overall participation and retention rate. As providing an uncluttered user experience for those who are interested requires the design of the app to be tested several times, the total price of developing an app could vary.
3. App Platform
Selecting the right platform for an application for music streaming is another aspect that determines the total development budget for your app. For instance, you could select either iOS and Android platforms to develop the app you want or go with the development of apps that are cross-platform.
Although there is a negligible cost difference between Android and iOS development of apps generally, it is advised to pick one platform for audio streaming at first, and then gradually increase the speed as the app grows in popularity.
4. Team Size
The size of the team that is employed to develop applications for streaming music on Android as well as iOS directly influences the cost of these apps. As a growing in-house team to develop apps is an overwhelming task when you consider the hiring process and the necessity of starting from scratch, it’s generally recommended to outsource the project to a team of app developers. This will provide you with the complete expertise of a professional at a lesser cost.
The minimum number of people required to develop an app that is similar to Spotify:
- 2 project managers for a single project
- 1 business analyst
- Three frontend developers
- 2-3 backend developers
- 1-2 designers
- 2 quality assurance analysts
5. Location of the agency
The place of the app agency for development will impact the total budget for app development. If, for instance, you want to work with an organization located in Asia or Africa in which case, the price per hour of development is comparatively lower than those companies located in America or the UK. Here is an estimate of development across different regions around the globe.
The development of an app isn’t finished when you release the app in the app store. You must put in great effort to ensure the application runs smoothly and is completely bug-free. Additionally using modern technologies in line with market demands is one of the most secure methods to ensure the app’s success in the near future. So, total maintenance cost directly affects the overall costs of music streaming development for apps.
7. Tech Stack
A strong technology platform for mobile applications defines its overall effectiveness within the competitive environment. The backing up of the app using advanced technology can help to put your business on the path to success, while also ensuring the highest return on investment.
The technical components of the most well-known music streaming apps on Android and iOS comprise several of the easiest-to-master technologies and frameworks.
The features that you incorporate into the music streaming app will directly affect the budget. An app for mobile that has a comprehensive feature set will give you an edge, while also ensuring higher customer engagement and satisfaction.
As such, we’ve now arrived at the section of the process where we’ll look at the features that should be included in your music streaming application along with the amount of time it would be required to develop the features.
Do You have any App Idea in Your Mind?
The features to Build a Music Streaming App Like Spotify
In the present, when we speak about the music streaming applications’ capabilities that should be added to your brand’s app, it’s helpful to identify the features available in the most popular mobile apps within the music streaming category.
Here’s the listing of features that should be included in the music streaming app you use The following list of features should be added to your app
*Bonus*: We’ve added the time it will take to create the features of each app and will assist you in determining the cost estimate to be expected to receive from an app development firm.
The addition of a registration function will depend on the business model you choose to use. While you may consider offering your users a no-cost open service that does not require the users of your app to log into their accounts using their credentials, typically businesses use an open-source model.
In order for a model that is freemium to work, it’s essential to obtain logins from users so that they can convert into the premium.
The creation of registration features takes between 40 and 60 hours
The entire concept behind an application for streaming music is to allow users the option of searching for the music they like which can be set to their mood. To achieve this it is essential that businesses include the Search feature in their apps.
By using this feature, customers will be able to find their preferred artists, albums, film tracks, and more.
The addition of the Search feature to the music streaming app will take between 110-140 hours.
What’s better than working with a developing mobile apps firm and offering your users an opportunity to save all their favorite tracks together and categorized them according to their mood?
This is where the Playlist feature can be found.
The development of the Playlist feature takes about 70-100 hours.
4. Social Sharing
The notion that the amount of success your app enjoys is directly linked to the exposure it receives on social media holds in the case of streaming music applications as well. When you offer your customers the choice to share their favorite song or album via social media, or with someone on an intimate basis such as WhatsApp and Instagram Direct Messages. Your business will get only a small portion of the word-of-mouth of advertisements.
It takes a music application development company between 65 and 70 hours to incorporate the social sharing feature in the mobile application.
5. Offline Mode
By enabling this option, you provide your listeners the ability to listen to music while on the move, without dependence on the internet. Offline mode utilizes the device’s internal storage to save audio data from the song.
The development of Offline Mode takes somewhere around 60-70 hours.
Users can expect to get various suggestions of songs and music they have downloaded that are based on their download history and playlists. The new suggestions of music genres, as well as the additional suggestions, will assist in increasing the overall app engagement and retention.
The development of feature recommendations takes between 100 and 150 hours.
7. Lyrics Display
It’s one of the most effective features that can keep users interested in the music streaming application. The application can display the lyrics to the songs to users in the background, thereby improving the engagement of users. The integration of lyrics can be managed by specially developed AI technology.
The creation of display features for lyrics is usually between 80 and 90 hours.
8. Push Notifications
Push notifications feature has the potential of increasing overall user engagement by giving users prompt notifications about new songs that are added, the newest music genres, and videos that are accessible in the app even when they’re not actively using it.
The development of features for push notifications is usually between 80 and 90 hours.
We have now examined the present and potential market situation of the music streaming applications available for Android as well as iOS along with the capabilities you should have available in your Spotify-like apps as well as the development times that contribute to the development of each, let’s proceed to discuss ways to earn money from the music streaming app similar to Spotify.
Do You want to know the exact Cost to Build a Music Streaming App Like Spotify?
How to earn money using the music streaming app Spotify Understanding the strategies for monetization
Whatever your app’s concept and how it was crafted to yield amazing results, it’s useless in the absence of generating revenue for your company. To make money from your mobile music streaming application, you must have an established revenue stream as well as a specific business model which will aid you in achieving the highest return on investment.
Because developing an app involves an enormous investment of funds and efforts, a clearly defined business plan can help reduce the risk while also ensuring an ongoing revenue stream for your company. There are a variety of methods of monetization you can employ for your app:
1. In-App Ads
You can make money through the help of advertisements in-app that are shown to the user via an audio streaming server in the shape of an image video as they switch between tracks. Inviting users to advertise their services via your platform for audio streaming is among the most efficient methods to increase your revenue overall.
2. Paid Membership
You could use a pay-per-use membership revenue model to boost the number of users you have and also increase the return on investment. Customers can purchase an annual subscription to your app month-to-month or annually. It’s among the most sought-after revenue streams which guarantee customer retention and regular revenue.
3. Premium Model
If you’re offering your app to users at no cost an effective way to boost the revenue total is by offering an upgrade to their subscription. Users can access or download a small selection of popular genres of music only through an annual subscription which, in turn, allows you to make money from blockbuster content.
4. Coupons and Promotions
Customers can take advantage of multiple seasonal coupons and promo coupons to avail a broad array of products. It is also possible to offer different discounts on your services during the holiday season, which will boost the number of subscriptions slowly.
These are the different ways you can earn money through your music streaming ads that resemble Spotify. Let’s move forward and assist you in understanding the ways iTechnolabs will help you develop creative ideas to ensure your app is successful.
Do You want to Build a Music Streaming App Like Spotify?
This article should have summed up all your concerns regarding the development costs for music streaming apps and the many elements that could impact the cost. A clearly defined plan for developing apps that stream audio will aid in putting things into context while ensuring the best chance of achievement.
Therefore, now is the best time to employ iTechnolabs who is an expert Entertainment app development firm that can help you make use of the most suitable technology to create a powerful streaming music app from scratch.
Contact us to Build a Music Streaming App Like Spotify