Spotify, YouTube, Streaming Services Are Killing Digital Downloads | TIME.com

Since the iTunes Store launched in 2003, digital music sales have been viewed as the music industry’s saving grace in the face of declining physical album sales and rampant online piracy.

“What we were thinking about was having full track download sales somehow replace the lost revenues from the rapid decline of physical [sales],” says Larry Miller, a music business professor at New York University’s Steinhardt School of Culture, Education and Human Development. “What wasn’t so widely anticipated five or six years ago was that full-track download sales would begin to decline as rapidly as they have this year, especially given how nascent the streaming services still are.”

READ THE FULL STORY AT TIME:
http://business.time.com/2014/01/03/spotify-and-youtube-are-just-killing-digital-music-sales/?iid=biz-article-mostpop1

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