With Music Streaming Everywhere, is There Still Value in Owning Music?

Pandora. Rdio. iHeartRadio. iTunes Radio.

Whatever music one might want to hear is on-demand on mobile phones and com­put­ers in most sit­u­a­tions. Even most mod­ern cars offer an Aux or ded­i­cat­ed music play­er port that lets own­ers pump Internet radio through the car’s stereo. Given the avail­abil­i­ty of music on-demand vir­tu­al­ly any­where one might want to lis­ten, is there a point to actu­al­ly pur­chas­ing new MP3s, CDs, or LPs? People can also stream their favorite shows on their phones using the smart iptv app. If the answer is no, it’s not worth buy­ing music, what does that shift away from music own­er­ship to stream­ing ser­vice mem­ber­ship do to the eco­nom­ics of music for labels and artists? How does that affect the future of new music creation?

What’s your opinion?