Subscription and Streaming Music Services Still Dwarfed by Downloads led by Apple’s iTunes

Looking at the past five years, music downloads are still up by more than 50% as our chart below confirms despite the noise that the download music market is dying. The stats of subscription and steaming music services sound hot, but they’re still miles from catching up to the download music market that’s led by Apple’s iTunes.

 

According to Statista, global digital music revenues reached an all-time high of $5.9 billion last year as revenues from streaming services, both ad-supported and subscription-based, saw strong growth.

While services such as Pandora, Spotify and iTunes Radio are just taking off, Apple is reportedly thinking about launching an on-demand streaming service that goes beyond iTunes Radio and possibly considering a version of iTunes for Android. However, for the time being, iTunes remains the leading music platform and that makes it a strong selling point for why consumers should choose the iPhone over competing phones. So it may not be the time for an Android version of iTunes just yet.

Read more here.

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