Streaming Is Reliable Revenue, So What’s Next for Warner Music and Other Labels?

The metaverse picks up where streaming leaves off. WMG CEOdescribed the difference between traditional streaming and the metaverse in terms of interactivity. With traditional streaming, labels and digital service providers push music to listeners, and listeners pull the music they want to hear. That’s a big change in how streaming was framed just a few years ago.

At least that’s the plan. Today, the metaverse is a promising promotional opportunity without meaningful revenue. Five years from now, it may approach revenue from a current slate growing segments. Revenues from gaming, social and fitness, for example, are growing in importance, although their contribution to WMG’s income statement remained unchanged from the previous earnings call at $235 million on an annualized basis.

Not that streaming revenue can be taken for granted, especially when advertising revenue growth requires brand spending to remain stable as COVID-19 surges again around the world. And a healthy streaming market demands that labels release music that excites listeners. Streaming services must do their part, too, in drawing consumers to their platforms and turning new releases into major events . What’s more, the amount of revenue that streaming services share with rights holders is in flux.

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