3: What happens when you take one of the most-streamed songs of all time,

9: say, Drake's "One Dance," and record it onto the oldest format of recorded music:

15: a wax cylinder. Okay stop, not great. But fast-forward to today and a lot has

24: changed. We no longer really own music, you just stream it. Streaming is almost

29: entirely responsible for getting the industry back on track, but the question

33: is now: can streaming take it back to its heyday after fundamentally changing the

39: way we consume it? Maybe.

41: But first let's look at how we got here.

58: So back to that phonograph. This was the start of it all.

64: Mary had a little lamb, its fleece was white as snow.

67: And everywhere that Mary went, the lamb was sure to go.

70: Thomas Edison's invention meant that for the first time people could listen to music from the

75: comfort of their homes, and it could also be shared and sold. As the phonograph's

81: popularity grew a few enterprising Americans came together to form what is

86: now known today as Columbia Records. Over the next five decades, the phonograph

92: took different forms from this cylinder shape to flat disks until finally being

98: replaced by.

108: In 1948, Columbia Records introduced the long-play, allowing for multiple songs on

114: one record. Vinyl remained the dominant recording format for most of the 20th century

129: As rock and roll, blues and country kicked off sales boomed, and albums

133: sold out. But by the late 50s, new technology would again rock the industry.

145: When first introduced the RCA magnetic tape wasn't a game changer, but being

152: able to record music on a smaller device for greater portability inspired a

156: series of innovation. Adoption by car makers ensured a quick rise in the tape's

163: popularity, and by the late 60s, most cars offered 8-track players.

168: For the first first time driving down the interstate and listening to, say, the Beatles, was

174: possible. Road trips got a whole lot more exciting, but it would be Sony

182: that changed the game with the iconic, yes. With the Walkman listeners could take music with them

190: with them whenever and wherever. Around the same time, MTV launched, giving record

197: labels an opportunity to market their music.

201: For artists, that meant it wasn't just about the song anymore, but the ability

207: to offer a whole artistic package. And that became a big focus for icons like

213: Madonna and Michael Jackson. But with the rise of the digital era came the

219: unraveling of the cassette tape.

228: Thanks to booming CD sales, the music industry

231: parties like it was, yeah, 1999. Profits peaked that year

237: with $14.6 billion in sales in the U.S. alone. There was Nirvana and Tupac

244: The Spice Girls, Oasis, Backstreet Boys, Britney, Mariah and Selena.

251: Unfortunately you can only party like it's 1999 for so long.

260: Software like Napster paved the way for a new era of piracy.

265: CD sales plummeted as more and

268: more people logged on. Free music didn't sit well with the music industry, and

273: they fought long and expensive legal battles, eventually seeing some sites

277: shut down. But the damage had already been done. Sharing music over the

282: Internet was here to stay.

285: I've got an iPod here.

286: And true, with the introduction

288: of the iPod and mp3 players, the industry did see a boost from digital downloads,

293: but it wasn't enough to make up for the dwindling physical format sales. And

297: artists were forced to tour more to bring in the dough. Meanwhile streaming

302: was just getting started.

306: Some companies introduced subscription

308: models with limited music libraries, while others, like Pandora, operated as

313: internet radio stations with ads. But the breakthrough came in 2011. Swedish

319: startup Spotify managed to do what the others could not: license a vast library

325: of music. Instead of buying and owning the songs and albums, we started

330: listening to ads or paying monthly fees in exchange for access to essentially

335: all the music in the world. Over the following years, there was an explosion

340: of services artists and labels now count on these services for the bulk of their

345: profits from recorded music, while many argue that artists are not being paid

349: enough. Although streaming is responsible for

352: huge revenue growth in the industry, tech companies aren't yet making money

357: from it, and it's still not clear how they will, as they continue to prioritize

362: growth over profits. Plus, if history is any clue, it won't be long before new

369: technology shakes everything up again.