Warner Music Hits $1 Billion In Streaming Revenue

This week Warner Music released their recorded music revenue for Q4 2016, and revealed that they had reached a major milestone - surpassing $1 billion in streaming revenue for 2016. Q4 streaming earnings totaled $311 million, which was also up 47% year-on-year. With these new figures, Warner's joins the ranks with competing labels Universal and Sony - who reached the $1 billion streaming mark in 2015 and 2016, respectively. According to Music Business Worldwide, "It's interesting to compare these stats to Sony Music's equivalent figures for the final quarter of 2016. Streaming contributed 39.9% of Sony's recorded sales/streaming revenues in the period, but physical was much more prominent with a share of over 40%." Read more on the story here.