Global online music streaming revenue declines 2% in Q2, shows report

Global online music streaming revenues in Q2 of this year declined two per cent quarter-over-quarter (QoQ) driven by sequential slump in both paid and ad-based revenues, according to a Counterpoint Research report on Tuesday.

However, compared to the same period last year, global online music streaming revenues grew 13 per cent in Q2 at $6.7 billion, said the report, adding that this is the first-ever QoQ decline in terms of revenues as music streaming has been gaining strength with every passing quarter.