Tuesday May 12, 2015

Warner Music Says Streaming Revenue Has Passed Downloads

It looks like Warner Music's streaming business is doing great. Oddly enough, its streaming success is at the expense of digital downloads.

Revenue from companies like Spotify and YouTube, which offer subscriptions as well as free content, grew 33% in Q2, Warner CEO Stephen Cooper announced during the company’s earnings call. Overall, digital revenue grew 7%, which means that download sales from iTunes and other outlets decreased in that same time.