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How profitable is a music website like Guitartabs.com etc..
Posted on 1/18/21 at 7:37 am
Posted on 1/18/21 at 7:37 am
If someone created a popular useful website for learning music, how much money is there to be made? Anybody have an idea about that? I realize, that the sky could always be the limit, but what is realistic?
3
Posted on 1/18/21 at 8:59 am to auggie
The first Q is are you hiring or contracting a staff including but not limited to music transcribers and/or a product acquisition/licensing team, a design team, a SEO team, a marketing team, an advertising team, and a legal rep. That's for starters.
This post was edited on 1/18/21 at 9:20 am
Posted on 1/18/21 at 9:05 am to TheFretShack
quote:
(No message)
I guess what I am asking: How exactly is the money made? is it mostly from subscribers? From website usage? From advertising? If you felt that you have a good idea for a different type of site, how do you make it worth your while?
Posted on 1/18/21 at 9:11 am to auggie
Next Q: Your own money, private investors and/or a financing institution as part of your overall business plan?
My guess is that a tab site's revenue stream would come from advertising revenue, subscriptions/memberships, and any promotional/bonus/upgrade product beyond subscriptions. Backing tracks, merch, etc.
My guess is that a tab site's revenue stream would come from advertising revenue, subscriptions/memberships, and any promotional/bonus/upgrade product beyond subscriptions. Backing tracks, merch, etc.
This post was edited on 1/18/21 at 9:30 am
Posted on 1/18/21 at 9:31 am to TheFretShack
I only have an idea for an application, that would use technology that has existed for a long time, but would like to make it usable for anyone with a computer. I really don't think I can say more than that, I realize that I will need people to do most of the tech. The question is: Is it worth it? Getting any idea off of the ground is hard and expensive, but some people do things for lots of other reasons besides money. Some people have websites just because they want to be known or famous. Some people are willing to lose money, as long as they feel like it makes them popular. I don't care about that. I just think I have an idea that would be useful to a lot of people, but it would need to be worth the trouble to do it, it would at least to need to pay for itself.
Posted on 1/18/21 at 9:41 am to TheFretShack
quote:
Next Q: Your own money, private investors and/or a financing institution as part of your overall business plan?
These are all questions that I don't know the answer to yet, because I don't know what the costs might be. I will be talking to someone this week, who might be able to give me an idea about that.
quote:
My guess is that a tab site's revenue stream would come from advertising revenue, subscriptions/memberships, and any
promotional/bonus/upgrade product beyond subscriptions. Backing tracks, merch, etc.
It would be nice to know someone who has a music teaching website and really get the information, or even pitch the idea to them.
Posted on 1/18/21 at 9:50 am to auggie
If you truly have an innovative idea, you're better off selling or licensing your unique idea to an established, well-known and reputable product or service provider.
Your chances of just breaking even in a start-up from the ground up even over the long-term are virtually nada.
Your chances of just breaking even in a start-up from the ground up even over the long-term are virtually nada.
Posted on 1/18/21 at 9:57 am to TheFretShack
quote:
If you truly have an innovative idea, you're better off selling or licensing your unique idea to an established, well-known and reputable product or service provider. Your chances of just breaking even in a start-up from the ground up even over the long-term are virtually nada.
I'm sure you are right about that. I know a lot of really good musicians, and I know quite a few really good IT folks, but I don't know anyone who knows much about both.
Appreciate your input.
This post was edited on 1/18/21 at 9:58 am
Posted on 1/18/21 at 10:08 am to auggie
Then you have to determine whether your venture is a business, a hobby or a passion, to dial in expectations for both you and anyone who joins your venture as an employee, an investor, the IRS, whatever, so their expectations are met as well.
Posted on 1/18/21 at 10:14 am to TheFretShack
quote:
Then you have to determine whether your venture is a business, a hobby or a passion, to dial in expectations for both you and anyone who joins your venture as an employee, an investor, the IRS, whatever, so their expectations are met as well.
Yeah, well right now it's just an idea, kind of like an idea for a gadget or new kind of ratchet that might be useful.
Too bad it isn't exactly like that. I could draw the prints or build a prototype for those myself.
This post was edited on 1/18/21 at 10:36 am
Posted on 1/19/21 at 8:20 am to auggie
I remember someone telling me one time the reason that instructional material doesn’t teach many “good” songs is that the licensing for them was through the roof
Posted on 1/19/21 at 10:32 am to D Tide
quote:
I remember someone telling me one time the reason that instructional material doesn’t teach many “good” songs is that the licensing for them was through the roof
I imagine that's true. My idea really isn't for teaching any certain songs, but just learning to play with other musicians. I think that's something that a lot of people don't have the opportunity to do, especially right now.
Posted on 1/19/21 at 8:51 pm to auggie
Your best bet would be to affiliate with an established music entity. But why would they need you (rhetorical)?
So you’ll probably have to find a way to drive traffic to your site for a piece of the ad pie. Lots of fingers in that pie.
Good luck.
So you’ll probably have to find a way to drive traffic to your site for a piece of the ad pie. Lots of fingers in that pie.
Good luck.
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