The Average Spotify Subscriber Pays $5.50 a Month – and Record Labels Hate It

On the surface of things, New York-based Warner Music Group should be delighted. The company, which owns the third biggest recorded music operation in the world, just posted record full-year results for the 12 months to end of September last year.

Wmg’s annual recorded music revenues grew by $340 million, or 11%, to $3.36 billion – an all-time pinnacle for the major. This growth, predictably, was driven by surging yearly revenues from streaming services like Spotify, Apple Music, SoundCloud and Pandora, which hit $1.73 billion. Warner’s biggest money-spinners in the 12 months included records from stars like Cardi B,
See full article at Rolling Stone »

Similar News


Recently Viewed