Now that social media is embracing its social side with conversation-based apps, we might as well mention one more that is quickly climbing the popularity ranks.
Released in August 2020, Stereo is the newest audio-based social media platform that reflects traditional podcasts more so than other audio apps. Stereo is all about bringing podcasts to life, offering audio-based conversation for B to C users with the opportunity for B to B consumers as well.
Now, we know what you’re thinking: isn’t Clubhouse doing the same thing?
Yes, Clubhouse is an audio-based app, and yes, Clubhouse offers rooms for B to C and B to B consumers. But get this:
Stereo provides live and recorded talks, whereas Clubhouse is all about live conversations. On Stereo, conversations can be recorded and users can browse through recorded conversations to listen to.
Stereo prides itself on being a space for people to partake in LIVE broadcasts. Most users on Stereo today are podcast listeners and hosts, while non podcast users are on Clubhouse. By focusing on creating “shows” for users, Stereo is unique in how it offers more traditional podcast recordings and live audio conversations compared to competing platforms.
And remember how we said that Clubhouse isn’t focused on appearance? Well, Stereo takes that a step further, too. Unlike Clubhouse, Stereo does NOT have profile photos. Instead, the software allows users to create avatar icons to be their “profile image.”
Although Clubhouse has been dominating the audio- based social media platform based there is one major thing they have not been able to do yet; Clubhouse has not captured the voices of Gen Z. Stereo is capitalizing on this. Upon joining the app, Gen-Z users are prompted with the following:
Are you a student? Talk for 10 mins. Earn $10
Are you a student? Invite a friend. Make $10
It’s clear that Stereo is aggressively targeting Gen Z to invest their time and share the app with friends. By the way, these offers are something that senior competitor Clubhouse has never done.
Unfortunately for Stereo, the older half of Gen Z is the “Instagram Generation.” From a young age they were programmed to value appearance and perfection in visuals. They are obsessively focused on maintaining the “right” image.
Stereo is literally the opposite of this.
It may be a difficult task to convince Gen Z that their lives aren’t dictated through aesthetics, but if marketed successfully, Stereo can teach them how to separate their visual voice from their verbal one.
Stereo is not only thinking outside the box to out-compete Clubhouse, but also has billionaire Bumble investor Andrey Andreev on its team. Having a major leader in the tech industry is a strength that could contribute to Stereo’s ability to succeed.
How will Stereo make money, though, if the app is free and they’re offering $10 to every new user? Great question! We’ve got a few predictions:
Stereo will make $$$ off of the user’s time and data. As of now, it is unclear how Stereo will monetize as they claim this is not currently a focus, but there are a few directions that are popular among social platforms that will most likely be implemented to drive revenue.
For one, Stereo could operate with the typical B to B model, offering advertisement space for businesses to drive revenue like Instagram and Facebook. Another option is to offer a “Freemium” model like Spotify, where users pay a monthly fee to avoid advertising and functional limitations.
Online, real-time connections will always be extremely important and powerful, so it will be crucial for Stereo to capitalize on getting a user base now that is currently seeking connections.
Would you kick back in the recliner and crank up the Stereo?