That's according to Universal Music UK's director of digital Paul Smernicki who spoke as part of a digital music panel at today's Guardian Changing Media Summit.
"You can imagine that when Spotify first launched, it sent a lot of people in the music industry into panic mode," he said. "'Let people stream stuff? Just madness!'
"We've looked really really hard for evidence of cannibalisation, almost unobjectively. Across the business, we've been unable to find that evidence.
"And in [European] markets where Spotify has launched, the growth in the digital business has been about 40%, in territories where it doesn't it's around 10%," he added.
"There's a healthy ecosystem and it can be served by many of those services."
He also pointed out that Lana Del Rey's Born To Die had "one of the biggest week ones for streaming in Spotify's history, but it was also one of the biggest week ones for a la carte sales".
"At Universal we are close to a 50-50 tip where digital exceeds physical revenues," he continued. "In many ways legal is now better than illegal. I'm an optimist by nature, but I think we can now look at the data and the numbers, and what music fans are telling us we should do, and feel very positive."
Via Music Ally