Streaming music services successful for consumers and music studios alike
In their latest fiscal report, Warner Music Group is reporting that streaming music services contributed 25% of the income for their recorded music division. This comes out to about $54 million dollars for the third quarter, and approximately 8% of the total income for Warner Music Group.
Even more encouraging for the music studio is the fact that streaming services are not cutting into their digital sales from sites like iTunes and Amazon. And this increase in revenue from digital sales is more than offsetting the decreasing sales of physical media.
Services like Spotify, Rhapsody and internet radio like Pandora pay royalties to Warner and the other music studios. Their popularity is undeniable, and it seems to be a working solution for both the studios and consumers so far. High licensing fees have held back some startups in this field. Wahwah.fm closed its doors just this week, blaming the fees from the studios as a major reason. But a few are doing well, and if the major studios can make significant profits from the streaming sites, they would do well to support them, rather than choke them off with inordinate fees. Keep your fingers crossed for some sanity from the studios.
More at AllThingsD.
2 Comments on Streaming music services successful for consumers and music studios alike
- Posts: 1299
- Posted on: 10 Aug 12 15:37
- Posts: 6487
- Posted on: 11 Aug 12 02:57
Most popular headlines
- Tue 16 Apr 16:12 by DoMiN8ToR
- Software, Windows 8
The upcoming update of Windows 8 might allow users to boot to the desktop again.
- Fri 12 Apr 15:10 by DoMiN8ToR
The number of jobs in the film and music industry in the United States has increased despite the claimed negative effects of illegal downloads.
- Tue 9 Apr 14:23 by DoMiN8ToR
The PirateBay has moved to the domain thepiratebay.gl in fear that their previous domain would be ceased by Swedish authorities
- Wed 17 Apr 13:57 by DoMiN8ToR
- Solid State (ssd)
A Chinese tech site has posted a picture that reveals details on Intel's 9 series chipset.