Streaming Services Put iTunes In A Slump
As streaming services grow in popularity, paid downloads continue to fall. Apple executives hoped the launch of iTunes Radio last September would spur download sales in its iTunes store, but Billboard reports only about 1 to 2 percent of listeners click the buy button.
With a downturn in download sales, Apple is also losing its sway over labels. Instead, streaming providers such as Pandora and Spotify have growing influence with the record companies.
As reported in yesterday’s (April 9) “Weekly Register” column, available only to MusicRow member subscribers, track downloads are down 13.4 percent year over year.
To keep up with the changing times, Apple is reevaluating its music services, including the possibility of launching an iTunes store for the growing number of Google Android devices, or offering on-demand streaming.
iTunes is still the go-to spot for paid downloads, with a 90 percent hold on the market.
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