By Olumide Adesida
(Warner Music Group’s CEO Stephen Cooper, announced a major increase in streaming revenue. Photo: WMG)
For the first quarter of 2015, Warner Music Group’s latest financial results indicate that the label’s revenues grew 4% year-by-year to $677m, helping it record a net profit of $19m.
Warner Music Group’s CEO Stephen cooper announced a major growth in recorded music streaming. He also warned rivals to ‘think very carefully’ as the industry is now looking beyond just download sale to paid subscriptions.
The company announced that its recorded music division had recorded more revenue from streaming than digital downloads sales in the quarter …Read More
Source:: The NET