A new study from ABI Research predicts that within five years streaming cloud-based services will be a more important method of accessing music than owning albums, songs or tracks. It says this shift away from music ownership will be driven by the growing use of mobile phones as music players.
Around 5.9 million people are expected to be subscribers of mobile music streaming services at the end of this year - but ABI Research says the figure is forecast to exceed 161 million subscribers in 2016; a compound annual growth rate of nearly 95%.
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