Music Streaming to Overtake Downloads

Barence writes “Streaming will overtake download services to become the dominant force in the online music industry, according to industry insiders. The claim comes in the wake of the PRS cutting the amount of royalties streaming services have to pay songwriters to about a third. Sites will now pay the PRS 0.085p per track, compared to the 0.22p they paid previously. On-demand streaming services still have to pay the record labels about 1p for every track streamed, however. Steve Purdham, CEO of music service We7, says the move will accelerate the growing trend towards online streaming which has seen newcomers such as his site and Spotify attract millions of users in less than a year. ‘Over the next 12-24 months you’ll see a move towards listening [online],’ Purdham told PC Pro. ‘Why do you actually need to have something downloaded on your PC? The streaming idea is really the future.'”

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Thursday, June 4th, 2009 Uncategorized