Emphatically yes! Here we will take a quick tour of the streaming landscape and which service providers are on track to deliver true high resolution streaming not just souped up MP3 at 320kbps, this year.
What is Hi-Res Audio?
High-resolution audio has been formally defined as: "Lossless audio that is capable of reproducing the full range of sound from recordings that have been mastered from better than CD quality music sources."
Typically hi-res downloads are a minimum of 96kHz/24-bit with 192kHz/24-bit becoming popular.
First some background. The way music is consumed has undergone a seismic shift, and 2015 is likely to see another momentum shift with the rise of Hi-Res Audio (see our 5 Key Trends blog for more on this) and the launch of the first true Hi-Res Audio streaming service.
In the last decade the music industry has seen the decline of the CD, the rise (and fall?) of digital downloads and the emergence of on-demand streaming.
On-demand streaming has grown exponentially since the first service was launched, and the latest reports estimate that streaming accounts for more than a quarter of digital music revenues compared to just 3% in 2007. And this trend is expected to continue.