Looks like traditional music got another kick in the pants. Strategy Analytics is forecasting that digital music sales will surpass sales of CDs and vinyl this year. Those digital sales include streaming services like Spotify and Pandora. We saw recently that teens are using Google's Youtube to get a lot of their music, too. Add in Sirius XM and lingering terrestrial radio, and there are fewer and fewer reasons to own your own music. Fool analyst Anand Chokkavelu is an audiophile himself and has been hanging on to his CD collection, Yet, he hasn't bought a CD in more than a year. The combination of Spotify, Pandora, and Sirius XM has been scratching that itch. He explains in the video below how the cloud is replacing the CD and what that means for investors.
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The article The Death of CDs originally appeared on Fool.com.
Anand Chokkavelu owns shares of Sirius XM. Austin Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Facebook and Google. Motley Fool newsletter services recommend Facebook and Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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