(Hypebot) – Spotify, Rhapsody, Deezer, Rdio, Slacker, Pandora, Tidal, Google Play, Apple Music and more. In 10 years, 50% will be gone. With so much competition, consolidation is inevitable; but seldom does a label executive put it in such stark terms. Even more surprising is Scott Brochetta's positive belief in streaming music's future.
"There are going to be real breakthroughs in streaming," Big Machine label boss Scott Borchetta said in a recent interview with Upstart Business Journal:
"If you look back 10 years ago where radio was, where online radio was, where streaming was, it was just getting started.
… Ninety percent of those outlets that we visited in that first year are out of business, so 10 years from now, I guarantee you at least half of those streaming services that exist today will not exist, at least not freestanding.
… It’s going to be a completely different way of doing business in the streaming space. It’s a different income stream. … The good news is, the musicians get paid. … When we can scale, it’s going to be really so much better for everyone."