Spotify Beats Music Streaming

It’s official: Music streaming is killing digital downloads faster than we thought

By on May 12, 2015 at 8:10 AM.

It’s official: Music streaming is killing digital downloads faster than we thought

Even though we don’t need more proof that music streaming is the wave of the future, recent comments made by Warner Music Group CEO Stephen Cooper really underscore just how fast the transition from digital downloads to music streaming is happening.

During an earnings conference call on Monday, Cooper said that Warner Music, the third largest recording company on the planet, generated more money from streaming than they did from digital downloads. That’s no small feat, and as Re/Code notes, this “is the first time a big music label has hit that milestone.”

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Digital music revenue overtakes physical formats in U.K. for first time

By on June 2, 2012 at 2:38 PM.

Digital music revenue overtakes physical formats in U.K. for first time

Digital Music overtakes physical music in U.K.

Digital music downloads and streaming revenues for the first time ever have surpassed those of physical CDs in the United Kingdom, according to the British Phonographic Industry. Digital music accounted for 55.5% of U.K. music revenue between January and April of this year compared to 31% of worldwide industry revenue in 2011, with industry revenues growing by 2.7% to £155.8 million. Digital music revenue, including subscription and ad-supported services, grew by 23.6% year-over-year to £86.5 million, while revenue from physical formats fell by 15.1% to £69.3 million. Sales of digital albums increased by 22.7% to £35.9 million. Paid-for subscription services revenue almost doubled over the same month a year ago, increasing 93% to nearly £9 million, while revenue from ad-supported services such as Spotify increased by 20% to £3.4 million. The continued increase of digital revenues highlights the switch millions of users continue to make from physical music formats to digital downloads and streaming services. The British Phonographic Industry’s press release follows below. More →

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