Just like movies, our music trends are turning to unlimited streaming for a monthly fee.
The International Federation of the Phonographic Industry (IFPI), reports for the first time, streaming was the single largest revenue source for music globally. But digital downloads dropped.
Joseph Bond, iheartmedia's region digital program director for Houston, said digitally downloading has its downside.
“If you were to switch a device, or move over from an Apple iPhone to an Android, your collection may not be able to come with you, based on where you purchased it or how you purchased it. Going directly to the streaming services, it’s a one to one agreement and you always have access to that library,” said Bond.
Music aficionados, purists and hipsters are still keeping record stores alive and kicking by continuing to buy hard copies whether it’s vinyl or CDs.
IFPI reports the recorded music industry’s peak was when CDs were in its prime.
“Music discovery is still primarily driven, in this country, by radio and friends and relatives word of mouth. But just behind that, online music services are the place that most are finding new music,” said Bond.
Only iHeartRadio app lets you listen to your favorite live radio stations or create your own commercial-free custom stations from a catalog of millions of songs, all in one free app.