Music Streaming (Spotify, Pandora) Accounts for 25% of the Digital Revenues for Warner Music
It seems as though music streaming services like Spotify and Pandora now account for over 25% of the digital revenues on Warner Music Group!
25% of Warner’s digital music revenue works out to be about $54 million, or about 8% of Warner’s total revenue for the period. It seems as though cannibalizing traditional digital sales from retailers like iTunes or from direct-to-fan sales isn’t happening.