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Finally! Spotify has announced that it is rolling out REAL-TIME lyrics of the songs globally, which were previously offered in just a handful of countries.
Yes! You heard it right.
Lyrics will now be available to every Spotify user on IoS, Android, smart TVs, etc. irrespective of the type of subscription the user has access to.
In today's hustles & bustles of city life, music offers a few moments of mental harmony and helps channel one's emotions.
People love to listen to music while working out, commuting to the office, and some love listening to soothing songs like "Last Christmas" before jumping to bed.
This is what has fueled Spotify’s tremendous growth, translating FREE music into $10 billion profits. Spotify is a digital music streaming service that gives you access to millions of songs & podcasts – anytime and anywhere.
With its growing reach to international boundaries, this music streaming app has shown a tremendous growth from 100 million subscribers to 165 million subscribers in 2021.
Before, we dug any deeper into Spotify’s world of music, let’s talk about the COVID-19 and its impact on music in India.
COVID-19 Pandemic and Music Industry
The entire music industry faced a setback in the times when COVID-19 was at peak.
Music streaming industry saw a decline in its number of users, as listeners spent less hours commuting to their offices, gyms and other such places which were closed amidst the pandemic.
And in this pandemic, Spotify found the opportunity to attract more investors as it’s biggest competitor, Radio, was used mostly in the cars.
With most of the people working from home, radio has become less accessible, because of which people are finding new ways to listen to music while working, cooking or cleaning, this is where Spotify has taken the advantage.
What is Spotify?
World’s biggest music streaming platform by number of Subscribers, allows you to create a playlist of your own choice, have access to songs pertaining to different genres and artists.
From rocking and classical music to plentiful podcasts, this app offers something for everyone.
How Much Does it Cost to Build a Music Streaming App Like Spotify?
The cost of developing a successful music streaming App such as Spotify depends upon a myriad of factors. It involves the development of App, marketing, or licensing.
The total music streaming App development cost also depends on platforms, design, features, and technology. The rough estimate of a Spotify-like app is around $25,000 for Android and $35,000 for iPhone.
App development is just the beginning; you need funds to acquire necessary copyrights & licenses and promote your streaming App to increase user reach.
How to Raise Funds for Your Music Streaming App Development?
There are several ways for App fundraising, but the most preferred one is through angel investors.
Who they are?
They are wealthy individuals ready to fund your App at the development stage or when you decide to market your App to reach the masses.
In return, the angel investors ask for a share.
However, getting funded by angel investors isn't a walk in the park; you require a compelling pitch that articulates your App story convincingly.
To further help you with acquiring funds, we will be putting forth the twelve key slides you must include in your music streaming App pitch deck.
So, let's scroll down and find out:-
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Slide 1: The Cover Slide
This is the cover slide of Spotify’s original pitch deck that their founders used to open a presentation.
This slide features an image of a hand holding the smartphone using the Spotify App, thus communicating the nature of the App to the investor audience in the room.
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Slide 2: Spotify Company Overview
This slide provides you with an overview of Spotify as an On-Demand Music service platform that highlights Spotify’s mission statement. It depicts the global presence of Spotify with the assistance of the world map given in the template.
To present the rise in the number of Spotify users, they have added a bar graph. In addition, the key points related to the on-demand music service platform are demonstrated in this slide.
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Slide 3: Enjoy Spotify on Various Devices
You can play your favourite songs on different devices, and this is visually illustrated though this slide Spotify’s investor deck. This slide caters to details about various platforms on which Spotify services can be accessed.
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Slide 4: Key Statistics Associated to Spotify
Make your investors aware about the key statistics associated to Spotify which includes information about the number of subscribers. By having an idea of the number of subscribers, Spotify will be able to create a personalized experience and lock users into the service.
Also, you can keep a tab on the average time that users spend on Spotify. It will aid you in knowing the user engagement story by depicting the time duration for which the user stays on your website; thereby indicating a true value for your site content.
Additionally, talking about the global presence of your application becomes easy with your hands on this amazing template that lets you present the number of countries that have access to Spotify.
Furthermore, you can entice your viewers by showcasing the millions of songs and playlist that are catered in Spotify.
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Slide 5: Spotify Platform Features
This slide gives a glimpse of the various features associated with Spotify in terms of functionality, discovery, and mobility.
Intrigue your audience towards this application by presenting the vast number of features that it offers, utilizing the given customizable template.
With this template at your disposal, you can showcase how importing local files and searching for your favourite song has become easy.
This application will help you with easy access to different playlists, artist’s radio, podcasts and concerts. Above all, you can use this application free of cost and can also get an access to its offline mode where you can use it anywhere at any location.
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Slide 6: Spotify Core Competencies
Edit and showcase your company’s core competencies with this thoughtful slide. It sheds light on core competencies of Spotify in terms of - User empowerment and Advertising platform.
User empowerment offers a wide range of music to users and increases the database of songs. One can have access to the music of their favourite artists or album and find music of their interest, depending on their mood and environment.
Advertising platforms can be used for the business, and impressive advertisements can be shared on the free version. These are generally presented in the form of audio clips and pictures to intrigue the listeners. These advertisements can be intrusive, which is why this app offers you its premium version, where you can get rid of the pesky ads.
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Slide 7: Spotify Global Presence
Spotify is expanding its international footprints in more than 80+ markets.
This sweeping expansion has reached billions of people and has been able to build a borderless audio ecosystem. It delivers an experience that meets the needs of every user, irrespective of the language and their geographical location.
With its expansion in different markets, Spotify aims to deliver the following offerings in each such region.
- Different Plans: Plans, both big and small, will be available across the globe. It will soon offer Individual, Family, Duo, and Student Plans to its users.
- Podcasts: In the majority of the areas, Spotify will launch its Podcast catalogue. It will work with the local partners to introduce more podcasts from its catalogue in the other areas.
- Platforms: Upon its launch in different market areas, it plans to expand its reach to different platforms along with Mobile and Desktop. Also, it will work with its partners to introduce it on other platforms like TV, Speakers, and Cars in the coming months.
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Slide 8: Spotify Market Opportunity
The given slide caters to details about the market opportunity associated with Spotify by incorporating details on the Global smartphone opportunity. It was observed that one of the biggest competitors of Spotify is Radio.
With most of the people staying at home, who used radio mostly in their cars while commuting from their work places to homes, radio has now become relatively less accessible for them.
Different series of smartphones are now going to feature Spotify in the Global partnership offering.
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Slide 9: Customer Value Proposition of Spotify
This slide caters to details about the customer value proposition of Spotify, including core products, added value service, communication, and touchpoints, end to end experience.
Under the category core products provide you with content-curated playlists and massive music libraries and audio files.
Spotify can be used for flawless navigation and by gamers, which can serve as an added value service.
Also, Spotify’s playlist based on weather and its QR Scan feature offers an end-to-end experience to its users.
Additionally, Spotify’s cartoon series, social events, and HipHop tour can be accessed from anywhere across the globe.
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Slide 10: Spotify Different Subscription Plans
Spotify offers different subscription plans to its users, providing unlimited access to its full catalogue.
Users can access free and premium subscriptions, and the difference is seamlessly portrayed in the given slide. It incorporates a laptop categorizing the plans in the free and paid subscription.
Under the free subscription, Listeners get access to the vast music library and the interruption of frequent ads. These ads can kill the groove in case you are listening to songs at a party. Also, the audio quality in the free subscription happens to be quite low, which is 160kbit/s. Another disadvantage of using this app in free subscription mode is that one can only access it online, and there is no offline availability of the songs.
Premium subscription offers you a higher audio quality of 320 kbit/s, along with offline streaming availability that allows you to download songs. Furthermore, you can enjoy uninterrupted access to various songs by getting rid of the pesky ads, both audio and banner ads.
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Slide 11: Spotify Platform Growth
The given slide depicts the explosive growth of the Spotify platform with the assistance of a bar graph.
Spotify has been doing well in converting its free listeners to paid subscribers.
This can be easily deduced from having a glance at this slide.
Not only this, the investors can have a holistic overview of Spotify's revenue from different segments with this interactive slide.
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Slide 12: Key People Involved
Showcasing the key people behind such a successful platform happens to be of utmost importance, which is why Spotify provides crucial information about the key people in this deck.
The slide lets you display the individuals who are responsible for making strategic decisions to the prospective investors.
Jot down their names & designation along with pictures of your team members to give a personal touch to your investor presentation.
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Let’s Wind Up
Are you considering creating a platform like Spotify and raising seed funds? Then, look no further than this readily-available presentation. Having such a great pitch deck at your disposal is sure to drive good revenue.
We have a full range of pre-made pitch decks, 100% editable and compatible with Google Slides. Contact us for any queries at https://www.slideteam.net/ and get a hassle-free experience.
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