When Apple launched the iTunes Music Store in 2003, it decreed that every song would cost just 99 cents.
That was a striking level of uniformity to apply to an industry that has often offered its product at varying prices based on the star power of an artist, the whims of retailers, and the general willingness of consumers to pay up. The average price of an album (in 2015 dollars) fell from $24.45 in 1974 to $11.97 in 2014, according to an analysis by Pitchfork.The single-track download is dying, but the format replacing it has found its own standardized price: $9.99 per month.
Over the years, music streaming services have settled on a Hamilton per month as the appropriate price for streaming millions of songs on demand and having the ability to listen to them offline.
Read Article: The Ringer