http://musically.com/2012/07/13/spot...-ifpi-figures/
Spotify helps Swedish music sales rise 30.1% in first half of 2012
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So, while physical revenues fell by 2.2% in the first six months of 2012, digital revenues were up 60.5%. Streaming revenues rose 79.4% to SEK 252.7m ($40m), while ‘other’ digital revenues (i.e. downloads) fell 14% to SEK 30.7m ($4.4m).
The popularity of Spotify – while other streaming services are available in Sweden, it’s really Spotify we’re talking about – might be bad news for Apple’s iTunes, but it looks like good news for labels, publishers AND artists.
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First 6 months of 2012: Spotify up 79.4% to $40 million USD
First 6 months of 2012: Itunes down 14% to $4.4 million USD
Spotify is now 9 times bigger than Itunes in Sweden and this gap will continue to grow.
Is this the sign of the future (say 5-10 years from now)?
Many are speculating that Apple/Itunes will debut its own Spotify-like service in the near future. Looking at Sweden, I don't blame Apple for wanting to get into the subscription market.
Quote:
Spotify Revenue:
2008: $0.612 million USD
2009: $18.1 million USD
2010: $99 million USD
2011: $236.4 million USD
2012: projected at $889 million USD
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) that iStream will be dropping within the next year