AfterDawn: News

Warner sees nice revenue boost from iTunes, Spotify

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.

Written by: Andre Yoskowitz @ 10 Feb 2012 13:57

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• 4 comments

• dodger5

  Impossible, the internet is killing the entertainment industry due to rampant willy nilly piracy! for any one of these companies to claim they are making money, especially on the internet is simply absurd. good day, I said good day!
  

  Keep your head up, keep alert, and don't let them take you by suprise.

  10.2.2012 18:07 #1

• KSib

  You beat me to being overly sarcastic about piracy, but that's okay :)
  

  10.2.2012 21:19 #2

• llongtheD

  "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."
  
  If that statement is correct, it's just one of many flaws in their business model. Who is the real pirate in this mess anyway? In my opinion it's a company like WB that wants to jam draconian drm laws down our throats and censor the internet to their liking.
  
  Any company that wants to censor and restrict rights to pad their bottom line is the real pirate. If SOPA gets passed we'll really get to see what these big media companies are all about, lets hope it doesn't happen.
  

  The check is in the mail, were from the government and were here to help you, and I promise I wont c*m in your mouth.

  10.2.2012 23:17 #3

• DXR88

  Quote: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. oh i do my dearest Warner, i hi jack those lovely music streams and i save all the ones i like to a nice allocated section on my HDD and will never stream it again....ever :)
  

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  11.2.2012 01:36 #4