Is it still profitable to start a music streaming or music download website?
As a new blogger you are probably wondering, what advantage, starting a music portal will offer you. You have asked yourself a few times if you can make lots of money from a music portal, streaming or a music download platform. The truth is yes! Music streaming platforms are the hottest right now, attracting lots and lots of investors from the music and technology industry.
What makes it even cooler and very interesting is how such start-ups and similar start-ups that invests in the music niche now organize photo shoots, concert trips and elaborate media promotions making it a line of work that is not only profitable but filled with lots of fun. Just imagine how great you would feel when you start rolling out with the big players of the industry or better still, when you start manufacturing the big players of the industry yourself!
Just for the record, music platform earn a higher percentage from advertising when compared to other niches of online business, this could be due to a whole lot of advertisers trying to put their ads on music platforms and portals thereby outbidding themselves to very high stakes. It could as well be because music or music streaming platforms can accumulate lots and lots of users within a very short time frame.
However, it is one thing to create a platform and it is another thing to make good profits from it. The scope of this post is therefore not only to enlighten its reader on how to start a very successful music platform but to also answer their questions on the profitability of making money with music streaming platforms and as such, clear all doubts from their minds.
Let us begin. Contrary to popular opinions that creators of music streaming portals make money from each and every download, this is not usually so. IN FACT these downloads are entirely free of any charge (except bandwidths of cux! hahaha) and such platforms creators do not earn rewards from each downloads. At least not directly. Rather, sources of income for music streaming platforms include the ones mentioned below.
- Music promotion
- Direct and native advertisements
- selling music, albums and other related digital contents
- Membership fees
- Selling of data (Such as user emails by renting out your list or music download pattern)
- Driving traffic to a youtube channel (Indirect earnings from youtube)
Here is a more direct answer on the subject matter from a music streaming website publisher and industry expert..
How do music streaming destinations bring in cash?
For both Spotify and Apple Music, 70% of the income produced from paid memberships and publicizing goes towards paying music names and specialists. … For instance, if $100 million is created in income, and a craftsman represents 1%, all things considered, at that point they would get $1 million in royalties.Dec 20, 2019
So go ahead and build the next audiomack, apple music or spotify. You know what they say? “It always seem impossible until it’s done.” The truth is, it doesn’t matter if the current industry leaders are making money or not, what matters most is the innovation you are bringing to the table, the difference you intent to make and the improvements you have to offer to current industry lags. The key is that users will flood your platform if you give them enough reasons to. And yeah, you will need to put in lots and lots of advertising too. It works that way!