Impressive, right? But, how does Spotify manage to hold all the aces, despite facing the functional and economic disbalance? Let’s dissect this music streaming service for its business model, revenue streams, and technology to know how it works.įounder (s) : Daniel Ek, Martin Lorentzon Its annual revenue (for 2017 FY) was $4.78 billion, which marked a growth of 40%, with 170 million Monthly Active Users and 75 million Premium Subscribers worldwide.Spotify is a leading music streaming service in the United States as of March 2018, by sessions per user per month (61 sessions per user per month).36 percent of subscribers to music streaming services worldwide in 2017 had a subscription with Spotify.This internet radio service that provides access to over 35 million songs is available for most modern devices, including Windows, MacOS, Linux computers, Playstation, Xbox One home consoles, along with mobile devices- iOS, Windows, and Android smartphones. Spotify is an on-demand music streaming service that allows users to browse through a catalogue of music, licensed through multiple record labels, and create/share playlists with other users. Recognized for the expertise in building apps for the music and entertainment industry like 106.2 Big FM (radio station streaming app), Right’s Up (neighbouring rights management app), We often come across aforesaid interrogations from our prospects. How much does it cost to build a music streaming app like Spotify? What are the must-have features and functionalities in an audio streaming app? Which technology is best suited for developing an audio and video streaming app like Spotify?

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