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Music industry struggles to cash in on streaming music sales

Streaming music sales can't help stop the bleeding of dropping CD and digital downloads, according to the RIAA, with the music industry in continued flux

Michael Hatamoto | Sep 29, 2014 at 06:31 pm CDT (0 mins, 52 secs reading time)

Streaming music sales are rising in popularity, but still cannot make up for the drop in both physical CDs and digital downloads, according to a report released by the Recording Industry Association of America (RIAA). As Pandora and Spotify continue to shake up the music industry, Apple - and its acquisition of Beats - can help push the industry forward, despite the difficulty in convincing streaming users to purchase music.

Music industry struggles to cash in on streaming music sales | TweakTown.com

Music business analyst Mark Mulligan noted that the music industry must try to determine if streaming music should be used as a marketing or sales tool in the future. There also is concern that many Spotify stations, for example, rely on major music hits from a small number of artists, while other songs and albums build a slow following over an extended period of time.

"The streaming picture is changing at an absolutely staggering rate and everyone across the value chain needs to get their heads around all the potential permutations else get left behind," Mulligan noted. "These are both exciting and daunting times."

Michael Hatamoto

ABOUT THE AUTHOR - Michael Hatamoto

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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