The move from ownership to access carries with it one inherent risk: the total loss of your music library. Truth be known, I am a moderate user of streaming services. I use it to discover new music. But I don't use it as my primary music library. I still prefer ownership and I rely on my collection of purchased songs and audio ripped from all of my CDs. I also enjoy quite a lot of music from BFM-distributed artists and labels (we have a lot of great music in our catalog).
But I am not the typical user nor do I represent the future music user. Today's streaming music user assembles their virtual music library using one service or another. They create and share playlists, albums, and tracks. It's all in the cloud now and only a small part of it may reside on your computer or in your phone. In other words, your music library is ephemeral. That makes it vulnerable.
This doesn't just apply to the gym-membership subscription services that kill access to your tracks if you stop paying (aka "tethered downloads"). It applies to practically every music service out there that is not yet profitable and that includes just about all of them.
So the question to ask yourself might be "is Spotify too big to fail (i.e., too many big investors with too much to lose)?" Can Pandora create a self-sustaining business model? Even Sirius and XM couldn't do it alone. Duplicating infrastructure is amazingly wasteful and expensive. Yet, it's being done over and over again with the various streaming and subscription services.
If iTunes shut down tomorrow (quite unlikely), I like the fact that I would still have my entire library intact. However, if my Spotify account disappeared, I would be hard pressed to recreate even the modest amounts of playlists that I made or subscribed to.
No one knows who will win amongst the world of many streaming services and winning merely means self-sufficiency and/or profitability. So which music service would you miss the most if they went away? What would you do?