By Megan Rose at Business Insider:
Apple is thinking about launching an iTunes app for Android, as well as an on-demand streaming service similar to Spotify, Billboard reports.
This is likely because downloads of music from iTunes are in decline as more and more people transitioning to streaming music services like Pandora, Spotify, Beats Music, and Rdio.
Thanks to those streaming services, the music industry was able to sustain revenues of $7 billion, nearly the same as it has been since 2009, the RIAA says. It's neither growing nor shrinking at this point.
Digital downloads still brought in the most revenue to the music industry, but a 1% decline to $2.4 billion suggests that people are moving away from purchasing music and moving toward streaming services.
That's why it's no wonder Apple launched iTunes Radio, a streaming version of iTunes that competes directly with Pandora. Apple is reportedly working on a standalone app for iTunes Radio so that it can better target Pandora.
Read the full story >>