With the launch of Apple Music, streaming music just reached millions of users. iTunes music sales dropped around 13% and the main reason was services like Spotify, Pandora or Rdio. Since iTunes music sales accounts for a big portion of music sales, the whole industry could see the sinking ship and feel the water reaching its toes.
We can say that streaming music is the future. So what now? I see two scenarios.
The music industry realizes that selling music/getting paid for streaming music isn't going to be their main stream of revenue. Live concerts, merchandising will be their core business. Streaming music will be a way to bring people to shows because there is nothing like a live show. With "Connect" Apple can do the same job that SongKick does about tracking live shows of your favorite band with the bonus that it will sell, in a near future, tickets with one click. Like the App Store opened the doors for every developer to publish their apps, Apple will do the same for musicians and allow them to publish their art directly without the need of any label.
This is the world I hope everyone will live in.
However there is a really awful scenario in which we need to analyse the streaming music business model. Since Apple will pay $0.002 per play the industry can look at it and say "lets make smaller tracks to increase the total number of plays". If this happens you can say goodbye to your favorite eight minutes track and start seeing two minute songs. For that not to happen, the business model should remove that incentive and pay for its length instead of if it was played or not.