But if we look at the popularity of streaming services today versus owning even DRM-free music, that would seem to support the convenience theory. (It hasn't taken off for books to the same degree but I'd guess that's in part because the vast majority of people just don't consume enough to make an all you can eat offering work.)
As perhaps both cause and effect, there's probably also something of a generational shift in which ownership of stuff you can put your hands on may just not be as appealing to many younger people, especially if they're urban dwellers without a lot of space.