First published on http://www.latimes.com/
In the U.S., album sales through the first six months of 2014 have been down 14.9% compared with the same period a year ago, according to Nielsen Soundscan, which tracks music sales. The decline goes beyond albums — the average amount each iTunes account spends fell 24% year-to-year, a report earlier this year said.
At the same time, on-demand streaming through services like Spotify and Rdio has increased, up 50.1% year-to-year. That’s why more tech companies have been investing on streaming.
This summer, Amazon launched Prime Music while Apple acquired Beats Music as part of its $3-billion purchase of Beats Electronics. Companies have also been investing in Internet radio streaming services; Google purchased Songza in July and Samsung launched Milk Music in March.