According to the BBC revenue generated from the streaming of music is up 40% and should account for around 1 billion dollars in revenue by the end of the year. It is nice to see an income being generated from these services. Streaming services give consumers an alternative to having to physically own Mp3’s and unlike traditional non-ownership models such as radio, streaming gives the consumer the choice of what they do and don’t want to listen to. Further to this, streaming is the only consumption format that looks as though it will give iTunes a serious challenge (besides Bit Torrent of course). But lets face it the more choices there are in how we can listen to music the better it is for artists, labels and fans alike.
August 17, 2012
Music Streaming Revenue