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Stockholm is the world capital of Music Technology

Press release   •   Jun 08, 2016 06:30 UTC

The Swedish capital is a hub for contemporary music acts and the birthplace of the new influential Music technology scene. To coincide with Symposium´s Brilliant Minds Conference, June 9-10, the Dennis Pop Awards, June 9, and the Music Polar Prize, June 16, Invest Stockholm acknowledges Stockholm as a center for Music Technology and modern music with the report “Stockholm – the Powerhouse of Sound” and the initiative “That Place Where”.

Stockholm is famous for ranking among the world’s top exporters of music as well as its vibrant tech scene, which after Silicon Valley, has produced the most technology unicorns per capita in the world. Fewer people, however, know that the Swedish capital is also the leading hub for the Music Tech industry. In 2015, Stockholm’s Music tech companies attracted investments of USD 555 million – more than half of all investments in the entire tech sector. The streaming sector alone is expected to grow by 11% annually, reaching a market volume of USD 7.5 billon by 2020.

Aside from Spotify, who allows 30 million paying subscribers to stream music, Stockholm is home to innovative companies like Propellerhead, who has dominated the digital music production scene since the 1990s, startups like Auddly, developing smart new ways of managing music rights and a whole range of music electronics companies creating the next generation of physical instruments. 

The report “Stockholm – the Powerhouse of Sound” presents 25 music tech companies and highlights the influence Stockholm has when it comes to combining music and technology. Stockholm is a place that acts like an incubator for ideas and where the tech and music industries respectively, have grown into world leaders. It’s in the intersection of these two successful hubs where synergies emerge.

- We see an ecosystem forming in Stockholm around music tech,” said Joseph Michael, Business Development Manager for Invest Stockholm. “There are many great engineers, musicians and entrepreneurs here working together to create the next innovations that will help us create and enjoy music.

The initiative “That Place Where” honors Stockholm-born Music Tech companies and music acts by making it possible for anyone to experience defining places and well-kept secret hotspots around the city. Discover the place where Spotify founders Daniel Ek and Martin Lorentzon met for the first time or the old garage where Teenage Engineering created the world-renouned OP-1 sythesizer. With the help of a unique video narrated by critically acclaimed artist Mapei and a Stockholm subway map, you can discover 14 important birthplaces for contemporary music and Music Tech around Stockholm.

For more information or interview requests, please contact:

Joseph Michael, Business Development Manager, Invest Stockholm

Phone: +46 76-122 80 59

Email: joseph.michael@stockholm.se

About the report “Stockholm – the Powerhouse of Sound”

The report presents 25 startups in five different sectors: Digital music production; Music instruments, aids and equipment; Music publishers and rights management; Streaming and other forms of music and audio entertainment; and Music accessories. 

About the initiative “That Place Where”

“That Place Where” is an exclusive guide around Stockholm that explores the places where some of the most significant moments in music and tech where born. With the help of a unique video narrated by critically acclaimed artist Mapei, a Stockholm subway map and the website thatplacewhere.com, you can discover 14 important birthplaces for contemporary music and Music Tech innovations in the Swedish capital.

Link to curated video: https://www.youtube.com/watch?v=gwuaHGDI6yI

Link to page: www.thatplacewhere.com

Stockholm Business Region, with its subsidiaries Invest Stockholm and Visit Stockholm,  is the official investment and tourism promotion agency for the Stockholm region.  Stockholm is one of Europe’s most dynamic sustainable regions. Stockholm Business Region is fully owned by the City of Stockholm. Our common brand is Stockholm – The Capital of Scandinavia.

www.stockholmbusinessregion.se
www.visitstockholm.com
www.investstockholm.com