Do Freemium music services offer greater revenue per user than the freemium combo of Radio and Sales?

The purpose of this story is rather simple:

First, let’s treat the music industry like a “freemium” music service with both paid and free components. And, using the data we gather, estimate the average revenue per user for this freemium experience.

In fact, the music industry has always been a freemium music experience at the macro level: Free, ad-supported services like radio existed to both (a) make some money selling ads and (b)…