Andre Yoskowitz
10 Feb 2012 13:57
Warner Music Group saw its sales stay flat in the last quarter at $780 million, thanks to a boost from Spotify and iTunes.
Digital revenue as a whole jumped 17 percent, and now accounts for a full 28 percent of the company's quarterly sales.
Music downloads, from iTunes, Amazon MP3 and other services, accounted for $205 million in revenue during the quarter, with streaming services like Spotify bringing in another $15 million. Streaming is increasing at a fast pace, 36 percent last quarter, while downloads remain in their shrinking growth mode, at just 15 percent.
The company remains hopeful that former pirates will shell out money for the convenience of a Spotify (or other service) which offers millions of tracks in decent quality and via your computer and mobile devices.