Music is a soul of life, the soothing comfort for a lot of people from daily challenges. And what could be more satisfying than music available to stream everywhere, even in your car? Listening to your favorite albums on a platform that offers a ‘taste of heaven’ to music lovers is one of the most fulfilling moments for an artiste or producer. Spotify online is a platform that offers inklings of these things and more.
Developed about eleven years ago, and launched nine years ago, Spotify presents itself as a video, audio and podcast streaming platform that allows its users to enjoy a wide range of music. With almost 20 million tracks in its base and about 20000 or more added daily, Spotify presents an appealing bargain for those who want to open an account on the platform. As of today, this online platform boasts of about 140 million users, with almost 50% of them on paid plans. The platform’s developers, Spotify AB, who are currently based in Sweden, have included different updates and have worked towards making Spotify piracy-free for music producers and artists. They managed to build a copyright-protected environment safe enough to create a Spotify account for launching out their music as easily as it is to find reliable writers on customwriting.com.
Making the best use of a Spotify account is vital if one wants to get maximum measure of the benefits presented by Spotify online. For a music producer, being aware of Spotify digital rights control is not so important when trying to measure up the gain from streaming their music via this platform. Spotify directs about seventy percent of its revenue as royalties to bank accounts of specific owners of tracks or music producers. The revenue generated is also influenced by how many tracks are streamed as a fraction of cumulative amount of tracks streamed. Due to this, Spotify has come under criticism several times from different artistes who felt threatened by the emergence of the ‘streaming on-demand’ industry and how it has influenced traditional music sales.
Spotify offers two types of subscriptions: the freemium, premium and the premium family subscriptions. The freemium subscription is the basic, free one; users get to stream their favorite songs with an audio quality of 160 kbps, as opposed to a streaming service like Pandora, which of course makes the former more preferable and enjoyable. Quality is key in representing an artiste’s reputation, and should be considered as one of the factors when deciding to start a Spotify account. Premium comes with the added advantage of downloads, and a quality twice as awesome for some songs. The service is also available for download on both the desktop and mobile apps, giving it a broader reach.
As an artiste, you would want to count your costs and consider Spotify’s reach. While the service is not available everywhere, it is reachable to extensive parts of Europe even with its most basic features; that can be marked a plus in general. Another thing one can consider is the source of Spotify’s income. The presence of stable income sources can put a producer’s mind at rest as the venture won’t risk folding up anytime soon and this can be quite encouraging for those who intend to start using the platform in 2018. Spotify gets about thirty percent of its revenue from streaming and also has earnings generated by several fundraising campaigns; there was record of a donation made once and also the advert placement spots for those adverts that get featured on the freemium version of the service are put up for sale.
Another feature of this site’s streaming service is that it is a perfect place to discover new and uprising bands that might be scarcely noticed on other musical apps or in music stores. And the company is making this easier by their earlier campaign this year which resulted in the launching of a program RISE dedicated to recognizing and promoting young, emerging artistes.
Spotify also has other properties that help its users get the most out of their musical experience. Its partnerships with various other companies include Sony (introduction of PlayStation Music), BMW car company (the integration program aimed at allowing BMW drivers to stream their preferred music choices while driving), among many others. The company’s seriousness in delivering only the best to its subscribers marks it for success in the online streaming industry, not to mention the increased use of podcasts, which also opens a wide range of choices, from audio books to talk shows and events or favorite news broadcasts.
Recent reports indicate that the company plans to do its initial public offering in 2018. Initial public offering is a term used to describe the first time a company puts its stocks out for sale to the public. There is speculation that Spotify’s bold move has the potential to trigger a wave where similar startup companies follow suit. Although this practice is not new or outdated, it has a relatively rare number of similar stories especially when it has to do with a company as large as Spotify. With its present net worth of eight and a half billion US dollars, there are possibilities for its IPO to be valued at twenty billion US dollars or more. Quite an impressive value. And while there’s no indication that the mentioned price is ultimate, business is about taking risks so we do hope for Daniel Ek’s sake that this is a good idea.
To be candid, we do not feel like there are special secrets for a successful launch on the streaming platform. A large percentage of the whole process depends on artistes and producers; it’s one thing to launch with a plan in mind and another to just venture out blindly expecting luck to smile on you. It helps to study the trending genres that get streamed more often on the platform and this can give you an inkling of how well your music will do if launched under the same circumstances.
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