According to reports by The Fader, Warner Music Group will for the first time, have made more money from streaming than digital sales. Revenue from streaming services increased by 33%, while digital sales increased 7%.
“The rate of this growth has made it abundantly clear that in years to come,” Stephen Cooper, CEO of the label said during an earnings call, “streaming will be the way that most people enjoy music.”
The uprising of streaming has seemed to be the new wave of the millennial generation, who have been subscribing to services like Pandora and Spotify for years. This may be a sign of the times, no more having to actually buy CDs, but being able to pay a monthly fee to have unlimited music has quite the appeal.
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