Warner Reports Earning More From Streaming Than From Digital Sales For The First Time

Streaming revenue grew more than 4 times as much as revenue from downloads in the most recent quarter.

First downloads surpassed physical sales, and now streaming has replaced downloads: according to Re/code, Warner made more from streaming than it did from download sales in its most recent quarter. Revenue from services like Rdio, Spotify, and Youtube increased 33%, while the comparable number for digital sales only grew 7% during the same period. Stephen Cooper, CEO of the label, announced these numbers during an earnings call. "The rate of this growth has made it abundantly clear that in years to come, streaming will be the way that most people enjoy music," he noted. He also affirmed his commitment to "to ensur[ing] that copyright owners, artists and songwriters receive appropriate value for their work."

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Warner Reports Earning More From Streaming Than From Digital Sales For The First Time