All-You-Can-Eat … Music?
“Recorded music, unlike live music, has dropped in value to the point where it’s a struggle to sell it at all,” wrote Jim in his post, Uptick in Vinyl Sales Proves Value of Recorded Music Headed to Zero. He was suggesting that the reason people buy albums — sound quality, the souvenir value of the packaging, the liner notes in larger print, or to help support the artist — just won’t trump convenience and price in the mass market.
Now CNET reports that U.S. revenue from streaming services like Pandora, Spotify and Apple’s Beats eclipsed sales of CDs last year, according to data on music sales from the Recording Industry Association of America. Sales from streaming music were $1.87 billion in 2014, the RIAA said, while CD sales were $1.85 billion.
According to this data, people are shifting away from purchasing music to own and opting for paid subscriptions for all-you-can-eat access.
On the flip side, the value people place on live entertainment continues to rise.