iTunes’ music sales have experienced a 13 to 14 percent drop in worldwide figures, according to the Wall Street Journal. This may mean changes are in store for Apple.
Some of these changes may involve Beats Music. Earlier this year, Apple acquired Beats as part of a $3 billion deal (which made Dr. Dre hip-hop’s first billionaire). According to WSJ, which cites a source “familiar with the matter,” Apple plans on reshaping Beats Music to become part of iTunes by next year.
Beats has become an important acquisition because there’s been a shift in how consumers listen to music. Streams from services like Pandora and Spotify have gone up more than 45 percent for the year to date, the report explains, and streams make up about a third of the revenue from recorded music in the States, according to the Recording Industry Association of America.
Despite the dip in music sales, Apple has reported global iTunes sales, including figures for movies, apps, and books, have gone up from $4.3 billion to $4.6 billion in third quarter comparisons for 2013 and 2014.