Labels start making more money from streaming than downloads

Streaming is starting to overtake digital downloads as a source of revenue for independent labels, according to a new blog post from British indie music heavyweight PIAS (hat tip to Hypebot). The company, which runs a couple of indie labels itself but also provides funding and distribution services to other indies, saw higher revenues from streaming than downloads in 24 markets last year, including countries like France, the Netherlands and Spain.

The transition seems to be a little slower in bigger markets like the U.K.. Here’s how PIAS commercial operations manager James Howdle put it:

“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 the territory … I think we will reach a point of equilibrium where physical…