The present invention relates to using spin transfer torque underneath a nanocontact on a magnetic thin film with perpendicular magnetic anisotropy (PMA), provides generation of dissipative magnetic droplet solitons and report on their rich dynamical properties. Micromagnetic simulations identify a wide range of automodulation frequencies including droplet oscillatory motion, droplet “spinning”, and droplet “breather” states. The droplet can be controlled using both current and magnetic fields, and is expected to have applications in spintronics, magnonics, and PMA-based domain-wall devices.