spotify clone app development
Spotify is a music streaming app that allows users to listen to music without downloading. Daniel Ek founded it in 2006. In 2015, its net worth was more than $5 billion. The Spotify company has received $½ billion as a fund from 17 investors. But, currently the additional amount of $500 million has been added to the fund.
Spotify is not the first one to enter the online music service industry. But, it was an innovator by implementing marketing approaches, technology, and subscriptions. Due to these, it has become the preferable music streaming app among users across 170 countries.
The success of Spotify, a music streaming service app
The growth of Spotify is skyrocketing. Let us see the net worth of Spotify now.
In 2011, the Spotify app had 2.5 million subscribers and 500,000 premium users who have registered since its partnership with Facebook’s Open Graph.
In 2012, the number of subscribers had increased and its net worth per month is $20 million.
In 2013, it had 6 million subscribers with 24 million active users. And, it has grown to 15 million subscribers with 45 million free users in 2015.
Since the user base started to rise in 2011, they announced that music streaming services would be limited to 10 hours for a month after listening to unlimited music of 6 months. Later in 2014, this limitation was removed.
In 2020, Spotify hit 155 million subscribers and its net worth is $9.5 billion.
In 2021, the revenue from the Spotify app is expected to reach $10.83 billion.
This clearly shows that the number of subscribers has increased and the app's revenue is also increasing.
How is Spotify generating revenue?
Do you want which revenue model Spotify follows? They follow a freemium model that is the app is accessible for both free and paid users. Notably, the majority of users stream music via mobile apps.
Paid users can listen to music without any advertisements. Apart from that, premium users can access songs offline and other additional features. They offer many premium options for users. On the other hand, free users encounter ads between every five to six songs.
Also, they adopted several innovative advertising formats to make money out of their app. Available ad formats are listed below.
Audio ad
Display
Homepage takeover
Branded playlist
Sponsored session
Video takeover
Advertiser page
The success story of Spotify has inspired many entrepreneurs to start a business and jump into the online music streaming market with an app like Spotify.
How to create a music streaming app like Spotify?
Spotify clone app development empowers you to launch the app that suits your business requirements. Here is the process in brief.
Conduct market analysis
Frame your business plan by conducting market research. Also, know your target audience and competitors. This helps you to come up with unique business ideas.
2. Share your business plan with a mobile app development company/team
Collaborate with a mobile app development company for developing the Spotify clone app. Upon discussing your business idea with them, they help to frame a successful plan to implement.
Nowadays, apps are developed in two different methods. Developing an app from scratch is a time-consuming process and you have to invest more. On the flip side, using the Spotify clone script is beneficial. The pros of this solution are customizable, scalable, ready-to-use, time-effective, and less expensive.
Incorporate the features that are essential for the Spotify clone app development. Make the app design simple and attractive as it gets more attention from users. To make your music streaming app stand out from the other apps, integrate additional features upon analyzing the current market trends.
The robust features to consider while developing the Spotify clone app are listed below.
Individual profiles
Social media integration
Search songs
Personalized suggestions
Trending tracks
Statistics
Also, you can consider adding the following advanced features to your app.
Push notifications
Radio stations
Podcasts
Behavior tracking
Membership plans
3. Deploying your app
Once done with the app design and development, it is ready to deploy. Choose a platform for your app to launch. Before deployment, make sure your app is tested for technical and logical errors. If there is any, fix them and launch the bug-free Spotify clone app.
Post-launch, check the performance of your app regularly. With the collective analysis of the customer’s ratings and reviews to the app, update the version of it accordingly.
Final note
As a pioneer in mobile app development, we offer a world-class Spotify clone app solution that empowers you to start a music streaming service business.
We have 8+ years of expertise in this field. Apart from creating an error-free app, we install the app on a server with hosting capabilities. Most importantly, the source code that we have used to develop the app will be available to you after app deployment.
Associate with us for Spotify clone app development and get your music streaming app.
