According to a report earlier this year, it was revealed that digital music sales experienced a drop in sales for the first time. A later report corroborated this when it was revealed that digital music streaming was on the rise which could have contributed to the drop in digital music sales. After all why pay for an entire album when you could subscribe to a service like Spotify and access thousands of albums for the price of one, right?
Well it looks like things are looking worse. A recent report from The Wall Street Journal has revealed that as far as Apple’s digital music sales are concerned, it has dropped by an additional 13% in 2014. The publication speculates that the decline was foreseen by Apple, which was why the company opted to acquire Beats along with Beats Music.
The report went on to confirm that Apple does indeed have plans to rebuild Beats Music and possibly relaunch next year where it could see an integration into Apple’s iTunes. We have also heard the rumors that Apple is in talks with record labels in hopes that they will be able to negotiate better deals and thus reduce Beats Music’s subscription price to $5 a month, which no doubt would be a much more attractive option..
But what do you guys think? Do think that music sales are just experiencing a temporary slump, or do you think that just like vinyl, cassette tapes, and CDs that digital music sales will soon be a thing of the past and that music streaming could be the new medium in which we enjoy our music?
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