Ideas for a new music streaming service? Objective is to solve the pain points of the top music streaming providers like Spotify, Pandora, Apple, Amazon, Google while keeping the business model profitable.
What pain points are you talking about ? And how are you planning to solve it ?
I’m a constant listener of music all of my waking hours. TV, any other media, meh, I’ve not run into any pain point not solved by one of the ones you list. If anything, new streaming services are making me eye roll. Amazon for example and their latest announcement *eyeroll*
Bigger problem and a costly one is licensing content from labels. That is the hard part.
Listeners get music they want. Artists get paid. Record labels get their cut. Music services trade on public markets. Everyone complains that they either have to pay too much, or make too small. But that's people, they will always do. Which pain points are you taking about? What is the actual problem you want to solve?
Would like to keep it a win-win situation. More features in free version, while making the money at the same time
If you run a music service, no one will use it if you don't provide popular content (popular songs / artists). But that content that most people want is under WMG / UMG / Sony management. To get it, you need to pay tens if not even hundreds of million dollars in advance (not to mention having good connections in that business just to start a conversation with them), and then pay a lot of royalties. The business model doesn't work for everyone in that space. But it works fine for the major record labels. So it's all good.
More fragmentation is exactly what we need.
By pain points I meant for consumers, not for business. E.g. higher subscription fees, lot of advertisements in free version.
So you’re going to close the service soon after launch then
How are you going to make money then? Pay royalties, wages to your employees, infrastructure, etc.? Out of your pocket? Is it Jeff Bezos himself who just joined our Blind community? :)
What are the running cost factors of the service once it is developed?
- Royalties - Marketing - Infrastructure - Wages Basically, just find Spotify financial reports for previous years, it's public information, and it's all there. PS Don't you think it might be worth learning how the music industry works for you first? It might have given you a better picture what or if anything needs to be fixed there.
https://investors.spotify.com/financials/default.aspx 2018 - annual report Or any quarter report for any year. Those will give you all the cost info you need.
Now . Now. Let's make you a CEO
Social / discovery
Is this a joke
Why do you feel so?
There is no such thing as a profitable music streaming service. Once you start making too much money the record labels increase their share of the cut