Apple’s acquisition of Beats Electronics and the associated Beats Music subscription service may have raised eyebrows in some quarters, but the move makes all the more sense when you consider this report from the Wall Street Journal.
Citing “people familiar with the matter,” the WSJ reports that digital music sales on iTunes have fallen from between 13 percent and 14 percent globally since the start of the year. This is in contrast to the 2.1 percent dip it reportedly experienced in 2013.
The growth and sheer number of of on-demand music-streaming services such as Spotify, Rdio and Deezer is evidence of the demand for access over ownership. And if the WSJ report is correct, then it goes some way towards justifying its $3 billion Beats Music acquisition – and why Apple’s reportedly working to integrate Beats into iTunes next year.
Get the TNW newsletter
Get the most important tech news in your inbox each week.