Nov 28, 2017 Arttu Närhi
Techstars Music is part of the massive Techstars network. They have 35 accelerator programs, control a 155 million venture fund and also own the non-profit Up Global that organizes Startup Week and Startup Weekend in 160 countries. Their portfolio consists of almost 1100 companies, making them a serious player in the startup field.
Techstars Music is one of the newer projects: founded in 2016, Moczydlowsky jumped on board right from the beginning. He justifies music as a good investment and one worth the patience. One of the main reasons is the expansion of the music industry. Worth $16 billion globally in 2016, the greatest prediction by Goldman Sachs values the industry at $41 billion in 2030.
Techstars Music does not approach music investment in a conservative way either. Moczydlowsky says they do not invest in music companies, but companies solving problems for the industry. Their portfolio is extremely broad and gives an idea about what the ever expanding industry needs to focus on in the future. Moczydlowsky named a few crucial categories on stage:
Event and Crowd Safety – As the value of the industry is set to grow, event and venue capacity will have to follow with the new demand. Creating solutions to ensure venue safety in the future is essential for the industry.
Machine & AI Learning Solutions – Using AI and machine learning to create music is going to be big in the future. Potentially, they can develop entirely new ways of composing music.
Rights & Royalties – Over time, change is coming to how royalties will be paid. Moczydlowsky highlighted the possibility of super liquid software payments of royalties being a cornerstone of the business.
New Music Experiences – AR and VR are trending topics, and will change how the music is experienced. So far, none of these companies have made it into the Techstars Music portfolio, but Moczydlowsky remains hopeful.
Content Delivery – The key trend here will be increased smartphone penetration. While it might not be the most exciting area in the industry, the way we stream, buy and share digital music can and will transform dramatically.
E-Commerce – Straight from Moczydlowsky himself: “If I see your record collection, I will be able to recommend you other records and even jeans and shoes. Algorithms cannot do that yet: the consumption in other categories has not lead to great recommendations across the board. We think this area is ripe with opportunities.”
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