Rapid price decreases for ICT-products in the 1990s have been largely attributed to the introduction of hedonic price indexes. Would hedonic price indexing also have large effects on measured price and productivity during earlier technological breakthroughs? This paper investigates the impact of...

This paper finds that the shift from buying music as a physical product towards subscribing to music services implies a decrease of 85 percent in the price paid per song. We estimate that in 2019 the global quality adjusted value from streamed music was $76 billion compared to current revenues...