With the dazzling growth of the Apple’s music streaming platform, Apple Music; the company is looking forward to shutting down its paid download service store, the Itunes. Apple Music provides the service where listeners can download a countless number of tracks on a monthly subscription basis. However, in Itunes, the user have to purchase for a single record in order to listen to their favorite song/albums. Being considered by Apple, though one executive noted that “keeping [iTunes music downloads] running forever isn’t really on the table anymore.”
According to the Digital Music News (DMN) song download revenues closer to the $750 million mark until 2018. The source describes the Itunes music revenue projection “By 2020 [Apple’s] download business would be tracking to be 10 times smaller than Apple Music but, crucially, streaming revenue would nearly have reached the 2012 iTunes Store download revenue peak”. And maybe this the point where Apple chooses to close down the Itunes Store.
Being a million dollar market, the old days of buying individual records is coming to an end. Apple is also in a race to compete with their other rivals, Spotify and Google Music this is the right choice to shut down the Itunes.
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