A new report is suggesting that Apple is considering a revamp of the iTunes Store in order to increase music sales in the face of streaming music services like Rdio and Spotify taking substantial amounts of market share. The report comes from Billboard, who say that Apple is still considering the launch of a streaming music service in order to increase music revenue.
The repot suggests that the overhaul would concentrate on the iTunes Store itself, rather than the iTunes software itself, although it is likely that many users would welcome such a change. With iTunes Radio only succeeding in converting 1-2% of listeners towards buying music, it is clear that streaming music is leading the market.
The cost of music seems to be a big factor in music purchases, with iTunes charging $1.29 per song, but services like Spotify offering streaming music either free of charge, or via a premium option like the $9.99 per month subscription plan. It is clear, therefore, that Apple needs to rethink how music is offered.
Going Down The Stream…