February 15, 2011:UMG: streams of music are ‘eclipsing everything’

In a recent interview in the Guardian newspaper, Universal Music Group UK chief David Joseph pointed to the differences in digital download and streaming consumption saying that streaming is ‘a different digital currency to downloading. You’re dealing with 175 million single tracks bought a year compared to 7 billion streams of music.’ The main question is whether these 7 billion streams can drive sustainable revenue streams. As part of his response Joseph stated that Universal has ‘concluded a deal with Virgin on a thought-leading new service’ and that Virgin is currently seeking agreements from other labels.Read more: http://tinyurl.com/6dxpwnl


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