Crippled by astounding debt, iHeartRadio has filed for bankruptcy. The nation's largest radio company has been relentlessly fighting with the evolution of the digital market, however they have found themselves burdened by $20 billion dollars of debt and unable to adapt to the expanding digital landscape. 

Similarly, in 2010 Blockbuster, what was once known as the largest video rental chains, declared bankruptcy. Netflix is also a streaming service that provides users to access movies, TV shows, and documentaries. Netflix defeated Blockbuster merely on it's ability to appeal to their audience and allow users to watch whatever they want, whenever they want at their leisure. 

If the future of the music industry is music streaming, competitors must willingly adapt to their users needs and grow simultaneously while recreating themselves.