Universal Music Revenue Dip

Universal music just posted their first quarter figures, revealing a 2% drop in revenue at constant currency. This drop in overall sales is yet another indication of the impact of streaming services on digital downloads. Billboard make a point to note in their analysis of the numbers that "the music labels could find themselves in a similar trend seen with the format change from CDs to downloads over the last two decades where ultimately downloads have never completely made up for the lost revenue with physical products."