oldplay, the Black Keys and Adele may strongly disagree, but making your repertoire available on streaming services does not cannibalize record sales. At least that’s the verdict of Rob Wells, president of Universal Music Group’s global digital business sector, who reiterated his support for services like Spotify and Rdio at the launch of IFPI’s Digital Music Report 2012, held in London yesterday.

Citing analysis that Universal Music Group had carried out during the last six months regarding four “key” Universal artists – “a heritage rock act, front-line pop, an urban R&B act and [one] in the MOR field” – Wells dismissed the argument that streaming services have a negative impact on download and brick-and-mortar sales as “absolutely bogus.”

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