Spotify revenues have overtaken iTunes for Kobalt members for the first time, new figures have revealed.
Royalties collected by from Spotify’s streaming service in the first quarter of 2014 were 13 percent higher than those from the iTunes download store.
Further figures showed that streaming revenues for Kobalt writers tripled over the past two years, accounting for 10 percent of its total global publishing income in the second quarter of 2014.
This includes subscription services, YouTube, internet radio and royalties from live performances of compositions, radio performance and those from CDs and concert DVDs.
Willard Ahdritz, founder and CEO of Kobalt, said: ‘Spotify overtaking iTunes in Europe is an important new milestone in streaming.’
According to the company, these figures are part of a 'seismic shift' in the way music is consumed and points to a future where access is considered more important than ownership.
Kobalt represents 6,000+ songwriters and artists, comprising half of this weeks Top 10 Billboard songs and albums and the top three albums in the Official UK Album Chart.
Willard will present the findings during his Web Summit keynote How is publishing evolving and where is the artist in all this? on 6 November at the conference in Dublin.
Royalties collected by from Spotify’s streaming service in the first quarter of 2014 were 13 percent higher than those from the iTunes download store.
Further figures showed that streaming revenues for Kobalt writers tripled over the past two years, accounting for 10 percent of its total global publishing income in the second quarter of 2014.
This includes subscription services, YouTube, internet radio and royalties from live performances of compositions, radio performance and those from CDs and concert DVDs.
Willard Ahdritz, founder and CEO of Kobalt, said: ‘Spotify overtaking iTunes in Europe is an important new milestone in streaming.’
According to the company, these figures are part of a 'seismic shift' in the way music is consumed and points to a future where access is considered more important than ownership.
Kobalt represents 6,000+ songwriters and artists, comprising half of this weeks Top 10 Billboard songs and albums and the top three albums in the Official UK Album Chart.
Willard will present the findings during his Web Summit keynote How is publishing evolving and where is the artist in all this? on 6 November at the conference in Dublin.
