Last Updated on July 13, 2024 by Asfa Rasheed
Musicians and music lovers have been interested in the essence of music for hundreds of years, and philosophers and academics have attempted—and continue to attempt—to construct theories that might explain the mystic impact that music has on humanity. The interconnected components of musical existence include music, people, society, and culture.
In this saturated market where every other person has his/her own taste of music and where music streaming is the prior choice for fulfilling their musical needs, it is quite prosperous to provide audio streaming services to generate huge revenue.
Table of Contents
Things to consider before building
1. Type of music you would stream
Create a playlist that the audience could connect with. There are numerous types of music available. Rock & roll is preferred by some while classical music appeals to others. Decide which music genre you would want to stream, will your service be dedicated to a particular type or it would have a variety of music. Playlist sequencing is also important, as preference differs from person to person. And correctly sequencing makes it easy for the audience to get what they desire.
2. Identify your niche
First of all, not even The Beatles are universally adored, therefore the notion of appealing to the entire human species is unrealistic. Even without that, though, it is not that challenging to find a particular audience listening to a particular genre base because those genres might already have a crowded market. It is up to you what you want to cater to a particular bracket or a wide bracket. It is also important to determine how much audience base you would get to generate revenue.
3. Features you would like to add
You’ll understand how to prioritize features into a product roadmap much better if you have your product vision, objectives, and themes. Because these days, it’s crucial that the general public be able to stream with, learn about, and engage with your organization 24/7 if you want to be successful at attracting and retaining clients.
The cornerstone of an app is to meet the users’ demands and make their experience smooth. A number of useful features make that possible, by creating value for them and providing them with what they are looking for. Some key features of an app differentiate your product from others which is a key factor to attract as well as retain customers.
4. Deciding the revenue Model
Choosing the right monetization model refers to how a business can leverage a user base to earn money. There are many variables to consider when choosing the model that is best for your app and overall business goals, but before launching, you must have a monetization plan in place. One such variable is the competition, as if your service and features are quite similar to others the only gap that remains is the price.
5. Calculate the cost and profit
An early cost estimate can help you decide whether to go with the project, and if the project proceeds, it can help define its scope. The cost estimate is used to control all associated costs once the project is underway in order to keep it under budget. When it comes to determining the costs of a video streaming project, there are a lot of things to take into account. One should concentrate on those in general. As such UI/UX Designing, server storage, developing etc.
Acquiring legal rights can be one of the major financial drains. About 30% of the incoming income are kept by apps like Spotify, while the remaining 70% are divided among the owners of the rights. The main financial burden on Spotify is the royalty payments made to record labels.
6. Acquire Streaming Rights
The platforms should pay a fee and commission to mechanical licensing administrators in order to stream music online and reproduce the tracks in specific formats. The platforms also require a number of additional rights, such as recording licenses from record labels and performance licenses, which are paid as royalties to the owner of the composition.
Copyright registration ensures that original works are safeguarded, as well as the writers’ and creators’ reputations. For instance, a writer or composer of music is in a position to stop poor reproductions of their work, protecting their name. And as discussed acquiring legal rights is the major cost borne by the platforms.
Start Building with Muvi
You must be thinking about all the hectic work to be done of hiring teams to design the backend , CDN and buying the storage space in servers and handling them altogether. Well say no more, Muvi offers you a unique combination of all-inclusive OTT platform offering. Offering includes IT Infrastructure, Secure Cloud-based Servers and Storage, CDN, Payment Gateway integration, Reports & Analytics, and Subscriber, Billing and User Management to establish your own audio streaming platform across Website and Mobile.
Therefore, Muvi operates the same for everyone, regardless of whether you’re a musician, an instructor who wants to offer audio books, or a speaker who offers podcasts. Simply log in, add your audio files, create albums as needed, establish the sort of monetization, select the platforms to launch, and get going. Your platform will be operational in a matter of minutes.
It’s as simple as that.
All platform, IT, and maintenance requirements will be handled for a small monthly charge by Muvi, freeing you up to concentrate just on the content and generating income that you keep. Sounds intriguing… Ain’t it…
5 easy steps to launch your audio streaming platform
Making your own OTT platform is as easy as a few taps of the finger using Muvi. To finish it, just adhere to these simple instructions.
A step-by-step procedure for developing an OTT platform is as follows:
Step #1: Create an account
By registering for an account with your name, company name, phone number, email address, and domain name, you can take advantage of our 14-day free trial before signing up for any premium subscription.
Step #2: Configure your CMS (Content Management System)
When signing up, you can choose the Audio option. If you haven’t chosen the option, you can do it later by going to the CMS’s “Manage Content” –> “Settings” page.
- Go to the CMS’s “Manage Content” –> “Settings” page.
- Select the “Audio on Demand” checkbox under “Content Types” (see below screenshot).
- If you only wish to add single audio files, tick the “Audio Single Part” option under “Metadata for Audio Type.” You can choose “Audio Multi-Part” if you wish to add music or an audio album.
- Select “Save.”
Step #3: Add Audio Only Template option
The “Audio Only” template may be found in the “Manage Template” page (go to “Website” –> “Templates” –> “Manage Template”) after Audio on Demand has been activated. To activate the template for your Audio on Demand website, click “Activate.”
Step #4: Including audio content on demand
In the “Content Library” page of your CMS, you can add content.
- Go to your CMS’s “Manage Content” –> “Content Library” page to add content.
- Select “Add Content.”
- If you are uploading a single audio file, choose “AOD Single Part Form” from the drop-down selection in the “Content Forms” column. If you are adding a music or audio album, choose “AOD Multi-Part Parent, AOD Multi-Part Child.”
- Put “Content Name” into the appropriate field.
- From the calendar, choose the Record/Release date.
- In the “Modern” and “Revo” templates, the description will be displayed. Type a succinct story or description of the item. However, the “Audio Only” template won’t show the description.)
- the Content Category you want to use from the list (Select Jazz, Pop, Rock, Instrumental, etc.) For the same information, you can choose from other categories here. For instructions on how to change or create a category, please see the “Managing Content Category” help article page.
- Insert “Search Tags” in the appropriate field. By entering the tags in the search bar, visitors can quickly find the material using search tags. As search tags, you can utilise terms associated with the content.
Step #5: Audio File Uploading
You can currently upload audio files in the following formats:.mp3,.wma,.wav,.aac,.flac,.aiff,.m4p,.m4a,.m4b,.webm,.dvf, and.raw.
Navigate to “Manage Content” –> “Audio Library” to upload the audio files.
Click “Upload Audio” on the “Audio Library” page.
Muvi CMS offers five different ways for you to upload audio files to your business.
- One from a computer (Browser-Based Upload)
- Transfer from server to server
- Using Dropbox
- Using FTP
- Via S3 Sync (Share Audio Files From Amazon S3 Server)
What does it come with
With tons of cool features and an end-to-end solution, Muvi’s audio streaming makes it simple and enjoyable for you to stream audio. among them are:
Unlimited Everything –
As a result, when you consider starting an audio streaming platform, many market players have restrictions on the number of audio tracks, channels, albums, storage, bandwidth, users, transactions, and other factors, which leaves you completely stumped as to how to proceed. Surprisingly, Muvi has no such limitations; you are free to upload and stream as many audio tracks as you like, to create as many albums as you like, to select your own storage and bandwidth options, and to monetize however you like. This is all done on a platform that is entirely white labelled, leaving no indication that Muvi ever existed. Only the backend is where we stay.
Supports all Audio Formats –
Muvi is compatible with all audio formats, including MP3, WAV, ACC, and Ogg. You simply need to decide how to display your files and the format you want to upload your files in. Just like that.
Built-in CMS –
Muvi provides an integrated workflow for adding and releasing your Audio tracks across many platforms without a hitch thanks to its built-in CMS. From a single dashboard, you can manage all of your content and initiatives, including audio metadata, payments, reports, and platform displays.
What is it for you
The ability to monetise on all fronts becomes available to the content owner when an all-inclusive solution is offered all at once. In our experience working with various types of clients, from broadcasting to servicing, we have observed that licensing for audio content is frequently convenient or simple with regard to video content, and that if you have a variety of content, there is no need to search out various platforms to host it all. Combine them all into one and monetise as you want, using a platform that is solely for video, audio, physical products, or a hybrid of any of these, depending on your audience and the demands of your company.
In addition to this, the Muvi Audio Streaming solution offers a tonne of other advantages, including support for multiple languages and currencies on your platform, the ability to geo-block content or a region, customizable templates (with the option to bring your own design), high-level encryption and security, support for multiple payment gateways, extensive analytical and reporting capabilities, an intuitive integrated content partner portal, and a tonne of marketing and SEO-ready features. By collaborating with Muvi, you can be certain that you won’t miss anything that will help you succeed. Muvi makes it impossible to miss out on any of the features that the ideal streaming platform can have.
Still pondering? With Muvi, you can experience the process for yourself before making any decisions, so there’s no need to think. Register for our 14-day Free Trial to get started investigating the concept of starting an audio streaming service right away!
