Start An Audio Sharing App - Business Ideas
Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.
An audio-sharing app is a streaming application that delivers sound or music without the need of downloading files from the internet.
Examples of audio sharing apps include Spotify, Apple, Music, and Pandora.
The global music streaming market size has increased YoY since its inception and has become the primary revenue source for most music labels.
The trend is attributed to the global music streaming subscriber base growth which is expected to reach 2.81 Billion in the next few years. Given the trends, building your audio sharing app is a great app business idea that will allow you a slice of the pie.
To start an audio-sharing app business, follow these steps:
- Research the main features of an audio-sharing application
- Apply for the respective license
- Hire a team of music application developers
- Develop the audio sharing app UI/UX design
- Decide the Audio sharing app's minimum viable product
To achieve success with your audio-sharing app, get started asap!
Starting an audio sharing app requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell audio sharing app, or selling audio sharing app online, you can use this page as a guide for everything you'll need to know.
Key Stats
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
|
Office Space Expenses |
$0 |
$7,000 |
|
Employee & Freelancer Expenses |
$151 |
$352 |
|
Website Costs |
$223 |
$7,215 |
|
Business Formation Fees |
$5,600 |
$20,400 |
|
App Creation Costs |
$1,099 |
$20,099 |
|
Software Expenses |
$162 |
$3,094 |
|
Advertising & Marketing Costs |
$75 |
$5,286 |
|
Total Startup Costs |
$7,310 |
$63,446 |
Case Studies
β’
$100K/mo
β’
$20K/mo
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
|
Discord |
discord.com |
209 |
|
|
Mixcloud |
mixcloud.com |
3,286 |
|
|
Flipgrid. |
flipgrid.com |
4,299 |
|
|
FileFactory |
filefactory.com |
10,763 |
|
|
Simplenote |
simplenote.com |
14,653 |
|
|
SharewareOnSale |
sharewareonsale.com |
17,407 |
|
|
Andromo |
andromo.com |
19,655 |
|
|
8tracks |
8tracks.com |
21,875 |
|
|
Walkie Talkie App for Team Communication |
voxer.com |
22,063 |
|
|
Mixlr |
mixlr.com |
26,489 |
|
|
Audioboom |
audioboom.com |
29,142 |
Pros & Cons
| Pros | Description |
|---|---|
|
Flexibility |
You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own. |
|
Ability to start your business from home |
It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning! |
|
Traffic to your website |
A audio sharing app gives people a reason to visit your website and to keep coming back to you! |
|
Meaningful business connections |
You never know who you will meet as a audio sharing app. This could be the start of an incredible business opportunity! |
|
High customer retention rates |
Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer. |
|
Unlimited income potential |
With starting an audio sharing app there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make. |
| Cons | Description |
|---|---|
|
Motivation of employees |
If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees. |
|
Low margins |
The gross margins for your audio sharing app are typically around 30%, which can make it more challenging to incur new expenses and maintain profitability. |
|
High employee turnover |
In the audio sharing app, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment. |
|
Niche Market |
A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience. |
|
Churn |
In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible. |
|
Time commitment |
With starting an audio sharing app, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business. |
Marketing Ideas
-
1
Affiliate Program
Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.
Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
The affiliate typically gets a unique link where clicks and conversions can be tracked.
-
2
Word of mouth
Word of mouth is when a consumers reflects their interest in a companyβs product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in todayβs hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
-
3
Partnerships
A partnership is a formal agreement between two or more entities to oversee business operations and share profits and liabilities.
Creating strategic partnerships with an existing business can be a huge win for a startup.
This is considering that a partnership creates a new slate of future options for your startup.
On the other side, pursuit of partnerships could suck up a ton of time, and bunch of resources, and fail to materialize.
Therefore, entrepreneurs need to do proper research and evaluate the possibilities of achieving success through partnerships.
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
