The music streaming industry is a competitive one, however it seems that Spotify has surpassed iTunes.
A recent report has revealed that Spotify is leading the way in the European markets when it comes to online music streaming.
Kobalt, a company that collects royalties on behalf of some of the biggest names in music have commented that Spotify’s revenue stream is currently around 13 percent higher than that of iTunes.
iTunes music sales have been down this year too so it seems that Spotify have swooped in and filled that void.
It is not all doom and gloom for iTunes however, as the service pulls in around $4.6 billion sales for Apple each quarter, but having Spotify dominate is definitely a sign of a new trend.
“Spotify overtaking iTunes is an important new milestone in streaming,” stated CEO of Kobalt, Willart Ahdritz. “The music industry’s infrastructure is failing them, unable to efficiently account for the enormous volumes of data from digital transactions.”
iTunes sales in the US have also been down recently, but this could be due to the fact that Apple have taken their attention over to Beats Music and is looking to expand with that.
Streaming services have been growing in popularity and are definitely the way of the future.