Sweden: music streaming boosting revenues

Music streaming services such as Spotify are contributing to an increase in sales.

The Swedish Recording Industry Association has released music sales figures for the first half of 2012.  The figures show that Swedes bought 4.4 million albums during that period, the highest sales figures since 2005.

Digital downloads and streaming accounted for 64% of the total. Swedish record companies' revenues from streamed music increased by 55% and reached $153 million during this time period.  Spotify was responsible for half of the record companies revenues.

Source: The Local Sweden.