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Spotify streaming has overtaken iTunes earnings in Europe for the first time, a new study has claimed.
Kobalt Music Publishing, an organisation which represents over 6000 songwriters including Paul Mccartney, Dave Grohl, and Lenny Kravitz reported their clients' revenues from Spotify streaming were up 13% when compared to iTunes in the first quarter of 2014.
These figures are seemingly a stark change up from last year, with iTunes earnings reported at 32% higher than Spotify in the third quarter of 2013.
With digital music sales declining for the first time last year, it would appear streaming is becoming an increasingly popular method for fans to consume music, however it's worth noting that Kobalt is only one of many publishers so the results aren't completely conclusive for the music industry as a whole.
Nevertheless, this will no doubt be great news for Spotify, who took a hit this week after Taylor Swift controversially removed her albums from the site, swhich prompted them to beg for her to come back (albeit lightheartedly with targeted playlists).
Watch Taylor Swift's video for 'Shake It Off' below:
Proof of whether streaming has truly overtaken iTunes earnings for the longterm will no doubt become apparent at the end of this quarter.
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