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| Rdio CEO: Streaming music will replace ownership in future |
| Tuesday, 03 January 2012 00:00 |
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Streaming audio services will gain prominence over music ownership in future, according to the chief executive officer (CEO) of Rdio.
Business leader Drew Larner told the Globe and Mail that he believes streaming services such as Rdio, Spotify and Pandora will "absolutely" bring an end to the traditional concept of the record collection. Mr Larner said the interactivity and social aspects of Rdio will help to ease this transition from ownership to access, but noted that streaming audio does not yet have the same penetration as online video services. He observed that the global subscription rates to online music services are only a fraction of those seen for Netflix and similar companies, making it vital that Rdio and its competitors do more to demonstrate their value to consumers. "The tipping point has occurred for video. I think we will reach that tipping point with music, but it's still early," said Mr Larner. This comes after it was revealed in October 2011 that a video-based equivalent of Rdio, named Vdio, will be introduced soon. Posted by Geoff Phillips  |