Scott Borchetta: Half Of Today’s Streaming Services Will Be Dead 10 Years From Now
September 9, 2015 at 12:59 PM (PT)
The BIG MACHINE LABEL GROUP President/CEO made that prediction in an interview with the publication, MUSIC BUSINESS WORLDWIDE. In it, BORCHETTA observed, “There are going to be real breakthroughs in streaming; if you look back 10 years ago where radio was, where online radio was, where streaming was, it was just getting started.”
After noting that “Ninety percent of those outlets that we visited in that first year are out of business,” BORCHETTA's forecast looks like this: “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.” And yet, he still struck an optimistic tone, noting that musicians get paid by the music on demand model, adding: “When we can scale, it’s going to be really so much better for everyone.” Read the entire piece here.