MusicWatch: Will music streaming surpass downloading?
Photo Courtesy of Atlanta Blackstar
According to MusicWatch, although music streaming is on the rise, paying for music is not completely obsolete. Last year, one third of the U.S.'s consumers still purchased music downloads.
Even though iTunes, Amazon MP3, and Google Play are maintaining some of their loyal customers, music streaming services are reeling some away and gaining popularity quickly. According to recently released data from the Recording Industry Association of America (RIAA), paid downloads accounted for 37 percent of U.S. music revenues, while streaming contributed 27 percent.
The highest rated streaming services based on the past three months include Youtube, Pandora, Spotify, iHeart Radio, and iTunes Radio, and are all growing tremendously bringing in around 130 million music streamers. "If the trends continue in 2015, streaming could surpass paid downloads as the largest revenue source for the U.S. music industry," said Russ Crupnick, founder and managing partner of MusicWatch.
How do you get your music? Have you completely resorted to streaming music or do you still stock up your iTunes through paid downloads? Do you have a favorite music streaming service? Let us know in the comments!