iTunes song downloads could drop nearly 40 percent in five years

As more and more people switch to streaming services like Spotify, it’s not only physical albums sales that are declining—iTunes downloads are taking a hit as well.

According to MIDA Research (via Digital Music News), as streaming cannibalizes other forms of music sales (eventually growing 238 percent by 2019), download revenue will decline by 39 percent (only 5 percent less than the rate CD sales will fall).

From MIDA Research:

“23% of music streamers used to buy more than one album a month but no longer do so. Download sales are affected most and will continue to feel the pinch with 45% of all music downloaders also music streamers.

Thus although streaming and subscriptions will grow by 238% on 2013 levels to reach $8 billion in 2019, download revenue will decline by 39% – only five percent less than the rate at which CD revenues will fall – leaving streaming and subscriptions representing 70% of all digital revenue.”

Much of this is attributed to the fact that the “first wave” of subscribers to streaming services like Spotify are/were among the most valuable iTunes downloaders.

In the age of streaming, downloading has just become an inconvenience.