Sony Music Exec Says Streaming Does Not Cannibalize Sales #MIDEM
The new president of Sony Music’s global digital business, Denis Kooker, defended streaming music services against accusations that they are cannibalising download sales, during a Midem press conference today. “We are constantly watching our business very closely and looking at how different channels are affecting and impacting each other,” said Kooker.
“At this point we don’t see any evidence that any one area is significantly cannibalistic to any other. Is there substitution? There is always going to be some as people move around and have choice. At this point there is no evidence that any one model is seriously damaging any other model.”
Kooker went further, citing markets where streaming is particularly popular as also being the markets where Sony’s digital revenues are growing overall.
“Ultimately, what we see is that our business is growing in the areas where subscription services are the predominant player in the market,” he said.
“As a result we’re very convinced that consumers ultimately want to experience music in different ways. Sometimes they want to own, other times they want to experience and listen. As a result of that consumer behaviour, we are looking at growing the business overall.”
Read our liveblog for a full report on the press conference, convened by Sony Entertainment Network to focus on its Music Unlimited service. Gracenote and Omnifone also spoke.