Music industry revenue has fallen consistently since peaking in 1999. Some would like to claim that streaming music services are a cause of the decline even though they arrived well after the downward trend was established. However, there is ample evidence to suggest the industry revenue would have declined in the absence of streaming music services.
As we mentioned in Part One of this series last week, consumers are voting with their ears. Internet radio was not displacing much broadcast radio listening when it was primarily a desktop computer phenomenon. That has changed with the rise of mobile devices. Whether it's the convenience, choice, personalization or lower ad loads, more consumers are listening to Internet radio on mobile and they are increasing their time spent listening each year.