Warner Music: streaming services generated turnover of $15 million in 2011

Driven by the rising popularity of download and streaming, Warner Music experienced a growth of 36,4% in digital revenue by the end of 2011. The total turnover generated by digital services was $205 million. Interestingly, streaming services accounted for a turnover of $15 million. This information is published on the website of WMG, in the ‘Reports Results for the Fiscal First Quarter Ended December 31, 2011’.

Warner Music Group is engaged in the recorded music business and the music publishing business. Furthermore, WMG aims to help artists to achieve long-term creative and financial success, and at the same time distribute their work towards consumers.

Streaming music services like Spotify may well be among the main contributors to the digital revenue growth of WMG. Spotify consists out of a database with millions of music tracks which can be played anytime on a PC, home audio system and mobile phone. More and more consumers are using this streaming service. Earlier we wrote that also the Dutch digital music market experienced a turnover of 33 million euros in 2011, partly caused by streaming services.

By: Deniece Teterissa