Streaming has become Warner Music largest source of revenue

Warner Music

Warner Music Group has become the first major record company to report that streaming has become its largest source of revenue, surpassing sales of physical formats such as CDs and vinyl. The tipping point comes a year after Warner’s streaming revenue overtook its sales from downloads. It highlights the speed with which music consumption trends are changing as result of streaming services such as Spotify and Apple Music. Warner… has embraced streaming more quickly than the rest of the industry… Warner, which trails Universal Music Group and Sony Music Entertainment, reported that total recorded music revenue grew 10 per cent to $610 million in the first three months of the year.

 

Robert Cookson

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