Paid-for streaming music subscription services like Spotify and RDO have experienced significant growth in 2014 compared to 2012, according to the latest research from Futuresource Consulting.
The overall music market in many leading geographies produced some green shoots in 2013. However, despite the strong growth in streaming services, in many markets it will not be enough in the short term to compensate for both the decline in packaged music and pay-per-download (PPD) market.
“Wireless audio hardware is in the driving seat, with devices like wireless speakers key to the development of streaming music subscription services, providing an additional layer to the user experience beyond a personal listening experience via headphones or a standard docking station.” says David Sidebottom, Senior Market Analyst at Futuresource Consulting.
“Packaged music declines have eased in some countries, but continue to show signs of weakness”
Photo by: Erik Stattin
