Warner Music Hits Streaming Milestone

Warner Music Group hit a major milestone this week, with the announcement that streaming has officially become their biggest business. The company announced that streaming revenues are now their biggest source of recorded music revenue, surpassing both physical and digital sales for Q1 of this year. According to sources, "Warner's streaming music revenue increased $72 million for the quarter - more than half of which came from sales outside the U.S. - while downloads declined by $17 million and physical revenue dropped by $6 million." Read more on Warner's streaming milestone and its implications for the industry here.