Streaming is the latest to top the charts
27 June 2014
Neil Allcock lead media partner at Deloitte said: “On Sunday 6th July audio streams of music will be counted towards official chart rankings alongside single purchases and downloads. The charts will now be a true reflection of the most popular tracks. The popularity of streaming could mean music lovers could lose the desire to own their music, unless they are a collector of vinyl or require high quality recordings for their listening pleasure.
“The way the model is developing, future charts could be based solely on streaming or usage rather than ownership sales. This assumes Spotify, Deezer and Beats, continue to grow and be successful. One thing is clear, the music industry needs to make sure the streaming model works at a price which sustains it. If it doesn’t, the music industry will shrink again as it has done for many years, and no one wins in that scenario.”
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.