After Record Labels and Tech Giants, Now Startup Accelerators Want a Piece of The Music Business
Spotify, a modest Swedish company, started small in 2006, and has since grown into a global juggernaut inspiring dozens of similar on-demand music services from some of the biggest tech companies in the world. Now that subscription streaming has solidified into the mainstream, though, what’s next?
“It’s about time for Spotify’s successor to be born,” says Bob Moczydlowsky. “A decade is a long time for any kind of platform.” Moczydlowsky is currently in charge of Techstars Music, a new program announced last week from major startup incubator Techstars. Yes, Silicon Valley is growing impatient—again.
The new Techstars program—whose applications are open now and which formally kicks off in February 2017—is on the lookout for unique, emerging startups that offer crucial new innovations in the way people buy, listen to, or otherwise experience audio.
The program is not the only one out there. In the UK, startup accelerator programs like Abbey Road Red and Marathon Labs are currently scoping out viable new music businesses, and the Nashville-based Project Music has already funded more than a dozen music startups in the US.