Online streaming of music is increasingly gaining popularity. Based on 2016’s statistics from the RIAA, the proportion of US music revenue from music streaming is about half of all revenue from recorded tracks. Due to this market changes, even new online ventures in music are working toward improving the quality of their online music, to meet new market demands. One such venture is known as Spinlist, an app from a Los Angeles-based company that lets you discover and share music that can be played on all streaming sites. Moreover, Spinlist enables you to play music even when you’re not using any of the streaming sites. Spinlist has made deals with major music streaming sites, such as YouTube, Soundcloud, Google Play and several others. This app’s CEO Mr. Buick, has promised more amazing features in the future, all meant to give users a unique experience.
Several other apps, such as Soundtracking and Bop.fm have dared such efforts, with no success; this is probably due to the challenges in this kind of business. For instance, getting clients to subscribe to these services is not an easy job. You have to continually update content to suit customer needs; you have to give users exactly what they are looking for. Finances could also be a challenge; in that you have to buy copyrights to be able to use the music tracks legally. Moreover, there is overwhelming competition from established sites, such as Apple through its radio service, and Amazon through its popular platform Echo devices. Despite these challenges, Spinlist’s CEO remains unshaken, citing that there are still numerous people out there who don’t use services provided by these giant companies.
“More people share music through burned CDs than streamed playlists,” declared Mr. Buick. This as he said, was based on what he had heard a music expert say. Mr. Buick said that this reality confirms that there is a gap in this kind of market. “I think a lot of those other startups might have been ahead of their time,” he said, claiming that the streaming market has developed enough to create room for new start-ups. He also cited the fact that Spinlist uses more innovation, in that it combines both human efforts and bots powered by artificial intelligence.
In the light of these issues and Buick’s reputation as the founder of Hipstamatic, Spinlist is headed for a bright future. They have also acquired funding from Sparklabs Global; and many more investors appear to be very interested.
So we think Spinlist is a great idea, mostly because it is very similar to ours, so why not try Find What You Like for FREE, to search, create and listen to your favourite music together.