On May 11th 2016, Digital Music News reported that an unnamed source with a close and active business relationship with Apple, had told them that Apple was planning to phase out the iTunes Music store in as little as two years. In a response posted to Recode, Apple spokesman, Tom Neumayr simply said, "Not true." He also made it clear that an alternate time line of 3 to 4 years was also out of the question.
There is much speculation as to what Apple's plans for iTunes really are. While downloads have been declining in the last few years, its streaming service, Apple Music is only a year old and still working out the kinks. And, the fact that the iTunes Music store brings in three times as much revenue as Apple Music, it would appear unlikely that Apple will be abandoning it anytime soon.
Digital Music News contends that Steve Jobs' history of phasing out older products in favor of newer ones, even when the older products are still profitable has become the driving force at Apple, as they strive to stay ahead of emerging technological trends. Some analysts are already stating the obvious fact that many artists, especially independents, need the iTunes store get their releases out to the public, and may create a backlash by withholding their music from streaming services.
People still like to buy music. To those people, there is nothing like owning your own copy of your favorite artist's music. While every music delivery system has had its heyday, most of them are still around. CDs, cassettes, and vinyl are all still around. While streaming is rising to the forefront, there still remains the possibility that some as yet unreleased method of music delivery may soon arrive. In fact, with the current pace in the release of new technologies, it's almost a guarantee.
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