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Streaming music services like Spotify are beginning to put a dent in digital music sales

Streaming music services are finally cutting into digital downloads

| Business, Financial & Legal News | Posted: Jul 22, 2013 10:25 am

As a daily user of Spotify, I'm loving streaming music services and it looks like many millions of others are, too. According to figures released by Billboard and Nielsen, a 4.6% decline in overall album and track sales in the first half of 2013.

 

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Digital download sales dropped 2.3% while physical CDs fell by a huge 14%. During the same time, streaming music jumped by 24%. The company that will most likely hurt from this the most in the long run will be Apple, who are all-digital with iTunes. Streaming services like Pandora and Spotify offer their music with an all-you-can-eat model, which is free.

 

If you don't like the restrictions of the free model, there's various premium models on offer, too. Spotify is only $10 a month for unlimited music, which is an amazing deal. This is what I pay for each month, and for less than half the cost of a physical album, why wouldn't any music listener do this?

NEWS SOURCES:Techspot.com

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