Warner Music Sees Streaming Revenue Surpass Digital Downloads

Is music streaming the new medium in which we will consume our music in the future? Based on the numbers and evidence so far, it looks to be that way. Recently Warner Music revealed during their quarterly earnings call that for the first time, they have seen the revenue from music streaming surpass that of digital downloads for the first time ever.

According to the company’s CEO Stephen Cooper, “This is an important milestone, and impressive considering the strong double-digit growth is coming on top of an increasingly significant base. The rate of this growth has made it abundantly clear to us that in years to come, streaming will be the way that most people enjoy music.”

Warner Music’s experience with an increase in revenue from music streaming basically confirms earlier reports that music streaming is on the rise. In fact it has also been suggested that more users are turning to music streaming which has ultimately affected paid digital downloads as a consequence.

That being it seems unlikely that digital downloads or other mediums will go away for good. After all there are still music lovers out there who swear by CD-quality audio, not to mention the vinyl format is apparently seeing a revival after all these years. In the meantime new music streaming services are popping up, like Jay-Z’s relaunch of Tidal, along with Apple’s rumored relaunch of their own music streaming service which could be unveiled at WWDC 2015.

Tyler Lee
Categories: Audio
Tags: Music, warner music