Sony Music’s streaming format is now officially what brings in the most money to the major label these days, leaving downloads, which are rapidly shrinking, in the dust. Streaming is now generating more than double the money for Sony compared to what it is currently receiving from iTunes and others.
Streaming generated 31.49bn Yen ($303m) in the Q2 period, up 26.6% year-on-year.
Download, on the other hand, generated just 13.69bn Yen ($132m) – falling by a painful 31.6% compared to the same quarter of 2015.
That’s a difference between the two formats of more than $150m – or $50m per month.
Read more on www.musicbusinessworldwide.com