UK music tech faces scale-up crunch as growth funding collapses Tech Britain’s music tech sector is facing a scaling crisis, with funding for growth-stage firms collapsing by 90 per cent over the last five years despite the rapid rise of AI and growing investor interest in music licensing infrastructure. A new report from industry body Music Technology UK (MTUK) found investment into growth-stage music tech companies [...]
Spotify creating new UK jobs after redundancies Business The UK arm of Spotify is creating new UK jobs this year after shedding more than 200 jobs in 2024 as its profit continued to rise despite a fall in revenue, it has been revealed. The division of the Swedish audio streaming giant cut its workforce from 1,039 employees during its latest financial year, according [...]
Abbey Road Studios is looking for the next Spotify Media When The Beatles recorded 190 of their 210 songs at Abbey Road Studios in west London, they pushed the boundaries of the primitive equipment at the time They experimented using tape machines in ways they weren’t designed for, pulling all-nighters to create the iconic distorted sounds of tracks like “Revolution”. It was a revolution not just [...]
Abba star Bjorn invested in my start-up – now I give artists the royalties they deserve October 1, 2024 The music tech start-up that managed to secure backing from some of the biggest names in the music industry
Back at square one: Crowdcube co-founder Darren Westlake embarks on bold new venture following exit September 9, 2024 Two decades ago, Darren Westlake set out to transform startup funding in the UK with the launch of Crowdcube. Fast forward 20 years and the entrepreneur finds himself in a familiar position – back at square one – after stepping down as CEO of the platform last year to “start again.” His new project, Disco, [...]
Focusrite: Music tech firm’s bottom line hit by shipping and logistical woes August 28, 2024 Shares in UK-based music software company Focusrite plunged 16.7 per cent after it reported that, while demand for its products remains strong, shipping and logistics challenges are squeezing its bottom line. Revenue is expected to come in around £157m, in line with current market expectations, as overall demand for its suite of audio tech products [...]