Wednesday, June 11, 2014
"Sales of digital downloads dropped a whopping 13 percent in the first quarter of this year after falling 5 percent in 2013, which was the first year since the debut of iTunes that sales of digital music dropped. Apple has certainly noticed; Less than two weeks ago, it announced it would buy Beats Electronics in a $3 billion deal that includes a fledgling streaming music service. The acquisition also included the expensive Beats headphones — $300 and up in a variety of colors so they also serve as fashion accessory. People will still pay large money for devices, and this weekend, thousands of people will spend at least $250 for three-day access to the Governor’s Ball Music Festival in New York. It’s a curious disconnect: Fans will pay top dollar for a music accessory or a music event. They just won’t pay for, oh yeah, music."
Posted by Michael Kunze at 6:00 AM