Let’s be completely honest, you and I. The chances that you will read every line of this article are very slim.
But if we dictated the same article as you were driving or between meetings, the chance of listening to the entire piece would increase by manifold. Better yet, if we pass on this article to you in Chris Hemsworth’s gorgeous Aussie voice, the chance of you contacting us would skyrocket.
Such is the power of podcasting. A power that the world has started realizing and engaging with. The podcast sector is growing at a lightning speed; the industry gained an estimated $479.1 million in revenue in 2018 and can be expected to generate over $1 billion by 2021, according to a report by PwC and Interactive Advertising Bureau (IAB).
The high revenue can be traced back to the fact that the average number of podcast listeners has been increasing on a constant note. An event that has led to an increase in the query for what is the podcast mobile app development cost.
Our intent today is to give you an answer to the cost to make a podcast app. We will be looking into it from angles like must-have features, the top players in the industry, and how to generate revenue after you make the app.
Table of Content
- Major Players of the Podcast Streaming Industry
- Must-Have Features of the App Development
- How Much Does Podcast App Development Costs?
- Podcast App Monetization Models
The rising number of podcast listeners in addition to the growing market revenue has led to a number of new entrants. The market which was earlier dominated by Apple Music is now witnessing new names.
Let us look at some of the most active platforms in the podcast industry.
Major Players of the Podcast Streaming Industry
In June of 2005, Apple added podcasting in iTunes 4.9 and started building podcasts directory at the iTunes Music Store. Under the new iTunes, users could subscribe, download, and organize podcasts. The popularity of podcasts has been on a rise since then. While the growth has been steady for some years, the coronavirus-driven lockdown has increased the rate of new entrants.
Now that we have given you a peek into the podcast industry and the market players that act as a reference when you build the app, let us look into the primary podcast mobile app development cost factor.
Must-Have Features of Podcast App Development
There are a number of features that come together when you create the app – an immersive search functionality, option to record and upload your own podcast, a live podcast, integration of payment gateway, etc. But the ones we are going to discuss here are the MVP-level features of building a podcast.
1. Category-wise Search Functionality
The first way users look for a podcast is through the application. The search functionality when developing a podcast app should allow users to find a podcast through podcast name, episode, genre, how frequent it is, RSS feed, etc.
2. Discover Tab
The discover tab of a podcast application generally consists of the podcasts being divided around genre and categories like ‘trending’, ‘featured’, ‘free of cost’, etc. The aim is to help users find their next podcast with utmost ease. What we recommend is using AI integration at this stage that would refer to what to watch next to the users.
This is the part of the podcast app that enables users to keep track of their downloaded podcasts, new episodes, their favorite podcasts, and playlists.
You can think of it as a bigger version of Netflix’s watchlist and Continue Watching section.
4. User Profile
The user profile of a podcast application contains tabs like account details, listening statistics, help center link, settings, etc.
5. Offline Mode
When developing a podcast app, a key feature that every media and entertainment app development company suggests is taking the offline-first mobile app development approach. The reason we have kept the feature in the MVP mode is that even as an MVP you will be able to give your users the feasibility of being active on your app when on an airplane mode.
How Much Does Podcast App Development Costs?
The podcast app development cost is dependent on a number of different factors. Let us look at each of them.
Podcast app features are the first thing that contributes to its development cost. The more advanced features you add to the application, the higher would be the cost. An example of it can be seen in the podcast recording or live stream feature. At the MVP stage, we advise integration features that are a must-have for your app’s functioning.
2. Technology Stack
The next cost-impacting factor is the technology stack. Although the choice of tech stack varies from app idea to idea, the general rule of thumb is if you develop APIs and SDKs from the scratch, the cost would be greater unlike if you use third-party integrations.
3. Podcast App Design
It can get very easy for a designer to crowd the app since the number of podcasts that make an app successful is generally on the higher side. Designing a minimal app should be the aim of the developers working on the project. However, creating a design that showcases all the multiple podcasts in an organized manner requires expertise, which in turn comes with a cost.
4. Technology Integration
The other key factor that has a direct impact on the podcast app development cost is technology integration. Although we do suggest using AI in the app if you add in technologies like IoT or Blockchain the cost would automatically increase.
5. Location of the agency
The last element is the location of the agency. As you move from East to West, the cost of app development generally increases. The average hourly rate of development in the US is generally in the range of $100 to $120, while in case of India it can be anywhere near $60 to $80. The number one reason why there is demand for remote developers.
Everything you have read up until this point is in terms of the amount you would have to spend for the development of the podcast application. But noting that the end goal of any application is to generate revenue, let us dwell on that point.
Podcast App Monetization Models
1. In-app advertising
One of the top ways for a business to earn money from an app is through in-app advertisements. By showcasing brand videos or images in the podcast screens or even after a few chapters of an audiobook, you can get the option of earning a good sum of money.
A monthly subscription is the next best way to earn money on your application. Although we would advise against it since there are a number of free apps available in the market, if you feel that the content you are offering is truly off the charts, add a subscription feature.
3. Premium content
The one option that we 100% back is the premium content mode. You can offer your users a no-advertisement listening experience, access to the most trending podcasts and first look of hottest podcasters at the back of monthly or quarterly charge.
With this, you are now ready to make yourself the next big name in the podcast industry. The next steps? Get in touch with a media app development company and initiate the process.