The expression “Spotify up, iTunes down” has been circulating the music region of the internet recently. Basically, everyone has a smart phone where you can both stream and store music, so there is no use for an MP3 player anymore. Even more so, downloading music can get expensive and timely, not to mention takes up valuable storage space on your smartphone.
On-demand streaming services like Spotify and Beats Music have become the preferred way to listen to music now. By the end of 2014, 37m people around the world will be paying for streaming music, while 210m will be listening for free on advertising-supported services. This technological shift in music listening does not only provide us customers with a more seamless, integrated, and personalized experience, but it is also revolutionizing business models of the music industry as a whole.