Well, the latter is hardly a surprise, but the positive note for Warner Music Group in its latest quarterly financials is that its revenues were up slightly – $779m versus $778m in the same quarter the year before. Meanwhile, digital revenues rose 17% in the same period to $219m, accounting for 28.1% of the group’s overall sales. WMG’s net losses increased 44% to $26m though. WMG’s recorded music division saw revenues of $661m and digital revenues of $205m – 31% of the total – while the group’s publishing business generated revenues of $123m, with digital accounting for $15m of that. CEO Steve Cooper talked about the growth of streaming services for WMG, but made it clear iTunes remains the major source of the group’s digital revenues. “The Deezers are coming on strong. You will eventually see those lines cross. But, right now, the lion’s share is in downloads.” He went on to say this about the average revenue per user (ARPU) for streaming services though: “That flow of dollars is substantially greater than the average annual purchases with respect to an iTunes user.”
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Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…