Streaming music hits the sweet spot in SA
Spotify reports dramatic success since launch last year
Last week marked the end of the beginning of the streaming music revolution. Apple announced the closing of iTunes, the 18-year-old platform that helped shift the music industry from physical to digital. At its height, in 2014, close to 1-billion people were using it.
However, the business model was still based on traditional ownership of music. Users either converted their physical music into digital tracks, or bought songs from iTunes. Apple founder Steve Jobs said back in 2003, when the iPod music player was launched, that consumers "don't want to rent their music . they don't want subscriptions".