Stockholm: The capital of music tech?
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 14 March 2024
⏱️ 18 minutes
🧾️ Download transcript
Summary
Spotify and Soundcloud started out as small, music tech startups in Stockholm, and now, several other companies that blend music production and innovation are choosing to set up shop in the Swedish capital.
In this edition of Business Daily, we meet some of these new businesses, to see why Stockholm holds such appeal. And we try to find out whether music tech is a profitable sector with a long-term future.
(Image: Emelie Olsson, the co- founder of Corite, a music tech startup. Credit: Maddy Savage/BBC)
Presented and produced by Maddy Savage
Transcript
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| 0:00.0 | Dear Daughter is the award-winning podcast from the BBC World Service, |
| 0:05.0 | full of thoughtful letters of advice, personal stories and life lessons for daughters everywhere. |
| 0:11.0 | Search for Dear Daughter, wherever you get your BBC podcasts. |
| 0:20.1 | Hello, I'm Maddie Savage and welcome to Business Daily from Stockholm. |
| 0:26.3 | Sweden's had a global reputation for music ever since Supergroup Abba won Eurovision exactly 50 years ago. |
| 0:34.2 | But over the last few decades, its capital has also made a big name for itself |
| 0:38.9 | within music tech. Streaming sites, Spotify and SoundCloud were both founded here. And I'm not |
| 0:45.6 | far from Spotify's waterfront headquarters, a very shiny building with huge glass windows and a rooftop |
| 0:52.1 | bar overlooking the city's medieval old town. |
| 0:55.9 | In today's program, we're meeting some of the newer music tech companies from Stockholm |
| 1:01.2 | that are making a global impact. |
| 1:03.8 | We're looking to have about 300,000 users on our platform within three years. |
| 1:09.1 | But yeah, there is competition. |
| 1:10.7 | Companies doing a lot of cool |
| 1:12.2 | things at the same time. We'll also dig into some of the reasons Stockholm's become one of Europe's |
| 1:17.5 | biggest hubs for music tech, despite having a population of just a million people. And we'll hear |
| 1:22.5 | about some of the challenges facing the industry. Everyone listen to music, so investors think that it's pretty fun. |
| 1:29.7 | But on the other hand, people tend to move to more safe investments in more difficult times. |
| 1:36.2 | That's all coming up in today's Business Daily from the BBC World Service. |
| 1:47.7 | We're starting a few blocks away from Spotify. We're starting a few blocks away from Spotify at a startup that's disrupting the way new artists are discovered. |
| 1:53.7 | Hi. |
| 1:54.8 | Hey Maddie. |
... |
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