I got into streaming music around four years ago. I have paid 5 bucks a month to enjoy countless music from rdio. Rdio was one of the forerunners who helped innovate the streaming music industry aside from Spotify. Losing two million dollars a month and relying only on venture capital funding can go so far for a company where they realized the business was not quite sustainable.
It seems that streaming music will be a loss leader for companies such as Apple, Google and Microsoft where it will be more difficult for companies such as Pandora and Spotify to compete. The costs of licencing the music is one of the biggest costs for a business like this. I do appreciate the opportunity to try out music from different acts. The radio format that plays random tunes actually did lead me to buy some music from various bands as paid downloads which some musicians should understand.
I know streaming music may not pay the money making music used to provide before the era of the mp3 and Napster, but we should be innovative so we can be pro-consumer and pro-producer of the art we enjoy.Perhaps we should do a paid stream where one pays 99 cents to stream a mid tier release and one gets a 1.29 credit to buy the whole release if they end up liking the release within a 24 hour window, and for a high tier release it would be 2.99, and then a 3.29 credit to buy a release such as Adele’s 25. This could be one way that Adele and Taylor Swift could adapt to technology while still getting paid.
I will be trying out Google, Apple and perhaps Spotify in the next few months to find my new home for streaming music.