The digital music revolution – the transition from the business of selling music on physical storage like CDs (and if you are of my generation, cassettes and vinyl records) to data downloads has been well documented. Arguably Apple’s iTunes store was their greatest and most disruptive innovation to date.
It’s also become a salutary lesson in how the disruptors eventually become susceptible to disruption.
Downloads from iTunes have dived as we have transitioned again from acquiring music in a digital form that we then store on our own device like a phone or MP3 player to streaming music over WIFI.
While sales in digital music downloads has decreased by 15% in the last quarter, digital streams have increased significantly.
The lesson is simple, if you are the disruptor you have to keep innovating!