iTunes music sales eroding.

download-keyThe Wall Street Journal reports, “The growing availability of cheap music—from free videos and streams to $10-a-month unlimited subscription plans—is sapping demand for digital downloads at the world’s biggest seller of music, Apple Inc. Music sales at Apple’s iTunes Store have fallen 13-14% worldwide since the start of the year, according to people familiar with the matter. The decline is stark compared with a much shallower depth last year. Global revenue from downloads fell 2.1% in 2013, according to the International Federation of the Phonographic Industry.” Industry insiders explain the decline by pointing out that more people are listening to streamers such as Pandora or Spotify. To quote from the Journal article, “The plummeting download numbers help illustrate why Apple bought the $10-a-month subscription streaming service Beats Music earlier this year… Apple is rebuilding Beats Music and plans to relaunch it next year as part of iTunes, according to a person familiar with the matter.”

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