The advent of streaming platforms marked a major turning point for the recording industry.
Streaming services have revolutionized the structure of the music industry as well as the way music is listened to and marketed.
This has created a new paradigm of music consumption and distribution, in this sense moving from an economy of possession to an economy of access.
There is currently a wide variety of streaming services on the market:
The first: consists of the Internet radio and webcast segment, which includes online versions of existing radio services, radio stations that operate exclusively online, or finally online radio stations with no consumer interaction.
The second: category includes on-demand streaming services, such as Spotify and Apple Music, in which the user can choose which songs to listen to from an extensive catalog.
The new paradigm of music consumption and distribution, which leverages access to content and no longer physical ownership and possession of it, has raised new challenges in the record market regarding the appropriation of value by artists and creators, whose main revenue component is no longer calculated based on physical album sales.