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Decentralized music streaming service
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I believe purchasing mp3's is a good solution.
Obligatory mention of Bandcamp and Qobuz here - buying music outright ensures a much bigger payout for the artists.
Unfortunately, not everyone can afford that. Spotify family plan is significantly cheaper than buying every single album from every artist I and my family listens to. Just for myself, I'd have to spend $5000+ for the amount of music I listen to if I bought the mp3 or flac files.
That's a great point. While I don't think streaming services can uphold their low prices (and I'm also happy to pay 20 bucks when the artists gets a fair share) I think buying all albums you maybe wanna listen to is way to expensive. Buying music also raises the barrier to discovering new music and cultivatinng a diverse taste in music.
I agree that it's a great way to support your artist, but honestly I don't think it stands a chance to become as big as streaming services. The convince of being able to explore almost every artists catalogue at the touch of a button is just too good. (Also great for sharing music or creating a shared playlist)
I think the problem of storage space is also often overlooked. Not everyone has enough storage on their device. (I know I didn't, when I still used MP3s on a modern smartphone)
AFAIK, Bandcamp lets you stream the tracks before you purchase them, Amazon also lets you stream free wth ads along with purchasing mp3s, so you can enjoy the catalogs and buy what you like on the same platform.
You can store your music on any cloud storage you wish, the free capacites can be enough, or a NAS or something.