UMG Makes $4.48 Million a DAY from Streaming Music

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Universal Music Group reported $1.1 billion in music streaming revenue alone between January and September of this year. This marks a 64.3% increase from the same period last year.

Vivendi’s 3Q 2016 report shows that its Universal Music Group unit made a whopping $4.48 million per day from streaming services. In bad news for digital downloads, but in good news for music streaming, streaming revenues doubled digital music downloads revenue. This represents a 29% drop, signaling that most fans are purchasing less individual songs and albums online, and moving towards the music streaming model… More at Digital Music News.

Looks like streaming music will be the only way to listen to your favourite tracks in the future. I still feel as though it favours those who already have the power and success, but that is often how change happens and probably can’t be stopped…

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