Another Economic Analysis Says That Streaming Music Is Going to Be Huge
Let’s be clear: there will always be a market for some kind of physical format when it comes to music. A certain percentage of the population will always treasure their CDs, digital downloads, vinyl and cassettes. But let’s also be very clear that we’re in an age of transition where access to music will soon be more important than possession.
The advantages of using a streaming music service are many. Instant access to tens of millions of songs for something approximating free (at least when compared to buying physical formats). Enhanced music discovery opportunities. No more risking hard cash on an album that might have just one good song. Curated playlists. Sharing of musical preferences. If you haven’t tried a service like Songza, Rdio, Deezer, Slacker or any of the others, you really, really should.
Financial analysts are taking note, too. RAIN reports that Coady Diemer is a boutique investment banking firm and they believe that streaming is already the next big thing (Well, outside of Canada, anyway. We got some catching up to do.) I quote:
It seems clear that consumer preferences regarding music consumption are changing again. Just as digital downloads gradually replaced CDs as the dominant form of music consumption, it now appears streaming music or a rental instead of purchase model is emerging as the next leading form of music consumption.
