Can Sweden keep its edge in the music industry?

Stockholm’s music tech start-up scene is thriving, sparking comparisons to Spotify’s success. The city aims to maintain its edge in the music industry.

Stockholm, Sweden is buzzing with music tech start-ups but can the city repeat successes like Spotify?

Sweden and Ireland jointly hold the record for the most wins in the Eurovision Song Contest, each triumphing seven times. This year’s competition will be hosted in Malmö, Sweden. Upon arriving at Stockholm’s central station, the country’s Eurovision legacy becomes apparent.

Sergels torg, the main square, boasts the Avicii Experience, an interactive museum dedicated to the late Tim Bergling, better known as Avicii, who hailed from Sweden and achieved global fame as a DJ. Per Sundin, the CEO of Pophouse Entertainment, which operates the museum, oversees a company focused on creating cutting-edge entertainment experiences. Their endeavors extend to projects such as the Abba Voyage stage show in London, featuring virtual versions of Sweden’s iconic supergroup.

Mr. Sundin, speaking from his expansive private office with panoramic floor-to-ceiling windows, rhetorically ponders the similarity between Kiss and Abba. Both iconic bands boast dedicated fan bases and extensive catalogs, alongside a global presence spanning the world.

Despite the overwhelming success of Abba Voyage, which has sold over two million tickets since its launch in May 2022, Sundin reveals that Pophouse Entertainment is yet to recoup its investments. These investments include cutting-edge technology developed in collaboration with Industrial Light and Magic, the renowned visual effects company founded by US filmmaker George Lucas, as well as the construction of a custom-designed arena in east London.

Mr. Sundin, a former executive at Universal Music, expresses confidence in the idea and anticipates its potential adaptation for several other prominent legacy artists in the future.

“This initiative is targeted towards individuals who are unable to continue touring, find it challenging to maintain their previous level of performance, or are interested in exploring new avenues for their musical legacy,” Mr. Sundin explains.

Pophouse’s advancements are part of a series of successful ventures in music technology originating from Stockholm, a city with a population of just one million.

Spotify, founded by Daniel Ek in 2008, and Soundcloud, established a year earlier by Stockholm School of Economics students Alex Ljung and Eric Wahlforss before relocating to Berlin, are among the notable successes.

Other impactful companies include Soundtrack Your Brand, offering a subscription service for businesses to use commercial music legally, and Epidemic Sound, a platform providing royalty-free music for content creators, recently valued at 12.5 billion kronor (£950 million; $1.2 billion) according to Swedish business news site Dagens Industri.

“We’ve often joked about something being in the water here,” Sarah Herlin, co-founder of Stockholm Music City, remarks. Her organization fosters collaboration between the city’s music and tech industries, offering support to startups.

She contends that Stockholm’s success in music technology is underpinned by several critical factors. These factors include Sweden’s rich musical heritage, exemplified by artists such as Roxette, The Cardigans, and the iconic pop producer/songwriter Max Martin, who have upheld the legacy established by Abba and lent credibility to Swedish tech ventures focused on music.

Furthermore, Sweden boasts a population with a strong inclination towards technology, shaped by the tax incentives on home hardware during the 1990s and the early embrace of broadband connectivity.

Moreover, Sweden’s business ethos, which prioritizes collaboration over competition, has fostered a nurturing environment for innovation, as per Herlin’s argument. She emphasizes that the culture encourages entrepreneurs to reach out and collaborate when they discover others pursuing similar ventures. This ethos often results in collective success rather than individual failures.

From ABBA to Avicii, this Nordic country has continually produced chart-topping hits and groundbreaking artists. With a population of around 10 million, it’s incredible how Sweden has managed to punch above its weight in the global music scene. But the big question is, can Sweden maintain this edge in the ever-evolving music industry? Let’s dive in to explore the factors contributing to Sweden’s success and whether it can sustain its dominance. Stay tuned for a closer look at Sweden’s musical magic!

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