Everyone in the world listens to music, but you rarely capture your own feelings into the songs that you are listening to. This needs to change, I want people to listen to songs where they can see themselves in. Music that really captures their feelings.
I’m offering a solution to this problem in the form of an application. This application will be easy to use, where you can fill in the way you are feeling at that moment. This application will then create a playlist of songs which capture that exact feeling. I want to fill this application with an A.I who will learn from your input and create the playlist based on your feeling for you before you even know how you are feeling. Imagine coming home from an exhausting day of work, and the perfect song is already playing the second you enter the door. This will make anyone’s day way better.
Everyone in the world listens to music, will it be for entertainment, to help yourself through the day or to just relax. Yet the music business has stayed the same for over a hundred years, we just scroll through the songs we like and rarely seek out new songs. Companies like Tidal, Spotify and Tidal all try new things to attract the customers into making them listen to new songs through “what’s new” or “Top lists” but they don’t look at suggestions or try to improve their applications with A.I technology.
Worldwide there are a total of 441 million people who use music streaming services like Spotify, Apple music, Deezer or Tidal. This is a huge market with Spotify’s revenue being 4.09 billion euro in 2017 alone. If we look at the online music streaming market, we can also see that it has a 30% user growth every year.
Sure, there are other websites that try to offer services where you can fill your mood in. But that’s all they offer for the customer. Where my application also offers a unique A.I who will learn from your input and eventually know your feelings and weekly routines better than you do.
This unique user experience that my application offers will make the users choose us over the competition.
I plan on creating revenue through making the application a free to use application with commercials in between the songs. These commercials can be cancelled through a monthly subscription. This subscription will give the user way more options to use and will also give them an advertisement free experience.
I plan on having a few users in the first month since it’s a new application and people will still have to get used to that. In the next few months, I expect to have at least three thousand paying users. At a price of 4,99 a month that will bring in a revenue of 15.000 euro a month. That money will be spent on marketing and creating a better ambient experience to the customers.
After five years, I plan to have 0.2% of the total music streaming market share. This means that we would have a total of 882 thousand users. If we would look at Spotify, we can see that they have 140 million active users every month of which 50% are active subscribers. This would mean that we can count on at least 25% subscribers of the 882.000 each bringing in 4,99.
This would bring in a total 1,1 million euro’s a month.
To create this application, I am asking for a small investment of 10.000 euro’s to finance the creation of the A.I and to integrate this into the application.