Spotify, music news,


iTunes And Spotify Are Now Highest Income Generators For Labels

by Andrew Tijs on June 27, 2012

in News,Noise Pro

A major music label insider has claimed that their top two sources of income are now iTunes and Spotify.



Business Insider reports that a major music label source claims that online music is the major source of revenue for them.

iTunes remains the biggest revenue raiser by far, reportedly paying $3.2 billion to major labels in 2011. But the big surprise is that physical sales have already been trumped by the music streaming service Spotify.

They report that Spotify investor (and Napster founder) Sean Parker said at SXSW, “If we [Spotify] continue growing at our current rate in terms of subscriptions and downloads, we’ll overtake iTunes in terms of contributions to the recorded music business in under two years.”

Spotify was launched in 2006, and hit Australia earlier this year, and is currently valued at an estimated $4 billion.



Related Posts

iTunes Logo
Apple To Turn Off Downloads

As vinyl made way for CDs and CDs made way for downloads, it now seems that downloads are about to make way for streaming.

May 12, 2016
The Beatles
Beatles For Sale Outside iTunes

The Beatles not only moved into the world of streaming as of midnight Christmas Eve, but their albums are now available from all download services.

December 26, 2015
CD Collection
It’s Now Illegal To Rip Your Own CD In The UK

A British high court has just killed a whole industry, at least if people pay attention to the letter of the law.

August 8, 2015
iTunes Logo
iTunes Introduces 14-Day Return Policy In Europe

Apple has introduced a 14-day return policy for iTunes sales in Europe to come into line with new laws governing online sales in the territory and the changes have the music industry worried.

December 31, 2014
The Beatles 4
The Beatles Release Free 4 EP

The Beatles are offering a free EP ‘4’ via iTunes for fans.

September 25, 2014
Robert Plant, Australian Tour 2013, Noise11, Ros O'Gorman, Photo
Kylie Minogue, Robert Plant To Play iTunes Festival

Robert Plant and Kylie Minogue are just two of the performers for the iTunes Music Festival this year.

July 22, 2014
Beyonce. Photo by Ros O'Gorman, Noise11, Photo,
Beyoncé Is iTunes Fastest Ever Seller

The new Beyoncé album is the fastest selling album on iTunes ever.

December 17, 2013