Rise of Streaming Music Services Spells Download Decline
When it comes to paid music, iTunes has always been the dominating guy for a very long time. But, as we know, what goes up must come down. That is exactly what has been happening recently in the ‘paid music download’ region of the internet.
NBC News summed up recently how iTunes completely changed the way we buy music by introducing the 99¢ song download. iTunes was started as an initiative to curb the piracy of music that had been going on ever since the dawn of the internet. It helped many undiscovered artists to gain success.
iTunes now has a user base of 435 million users, and currently dominates the online music industry. iTunes music library has about 26 million music tracks, and in spite of being so much of a success, it has failed to make necessary changes in its marketing model. The 99¢ music download still remains relatively unchanged on iTunes, and Apple has failed to meet the demands of its audience. That is the reason why iTunes does not have a captive audience anymore.
The 99 cent music download may be good for a listener who needs new music every once in a while, but it has not remained about inexpensive music; instead people want more access, rather than just inexpensive music.
iTunes drifted from its music selling hub by including a wider variety of entertainment such as TV shows, movies and books. Then new services such as Netflix popped up, offering unlimited movie access for a fee of $8/mo. This made sure that there is no dominating player in the movie industry for distributing the content. Google books popped up and it provided a better service at selling books.
The point here is, that people are turning away from iTunes as they get more streaming access from other services like freemp3go. iTunes still doesn’t have any streaming service which requires the audience to download all the music on their devices which takes up a lot of storage space, although they plan on having one soon. On the other hand you can sign up on Spotify and get more than 600 songs for $10, and you can stream them. If you had to get those same songs from iTunes it would have taken up a lot of your storage space and money!Continued on the next page