We have known that this day was coming for a while now. Streaming music juggernauts such as Spotify, Groveshark, E-music and many more have been growing for years. ABC news reported on March 17th that,
“The U.S. retail music business was essentially flat in 2014 as growth in streaming revenue helped offset further decline in sales of CDs, a report from the Recording Industry Association of America said Wednesday.
Overall, retail revenue declined about half of a percent to $6.97 billion. Wholesale revenue for the recorded music industry, meanwhile, grew 2 percent to $4.86 billion.”
Over the past 5-10 years the streaming music industry has taken the fast track as up and coming entertainment and will without a doubt soon pass physical CD sales and downloaded MP3s. While there are many reasons for this, the obvious one that comes to mind is the convenience of streaming to a mobile or a personal device. This “pain point” is well taken care of when any person can stream any song at any time to any device fro a very reasonable price. We can see this is the pattern of other entertainment media as video and game streaming also and it is well advertised and sold.
BoweryJE22
It is so weird to think back to when you had to put a CD in your car to listen to your favorite song. Now I can look up any song any where and listen to it at that moment. This has decreased the cost I must pay to listen to my favorite songs, especially if I don’t enjoy the entire album.