Music streaming has overtaken downloading in several countries, according to independent music group PIAS.
The company’s commercial operations manager James Howdle reveals that streaming earned more revenue than iTunes in 24 countries last year, including Spain, the Netherlands, Norway, Greece and France. And he says the pattern is likely to repeat in the UK soon.
He says on the PIAS website: “I certainly expect streaming will overtake downloads in the next two years in the UK market. It’s hard to say how that will then compare to physical CDs, which continue to be the biggest single format for driving revenue in that territory.
But he suggests that music fans across the country are keen to own hard copies while also being able to listen online.
He adds: “There seems to be potential markets like the UK for a co-existence of physical ownership and streaming and I think that we will see digital market share keep growing.”
French industry trade body SNEP recently conducted a survey into how much artists make from streaming services which showed that for every €9.99 monthly subscription, only 68 cents goes directly to the artist.