In April this year, the New York Times claimed that the Covid-19 pandemic had sparked “a great unwinding” for technology startups, including layoffs, cost-cutting and hasty business pivots for companies trying to survive the crisis.
The music tech startups world is certainly not immune from these pressures, yet at the same time, 2020 has been an exciting year for the sector, with music tech investment continuing apace from traditional investors and music industry players alike.
The backdrop to this is the continued growth of the recorded music industry, even during Covid-19. Goldman Sachs published a report in May – ‘Music in the Air: The Show Must Go On‘ – that has since been widely shared within music and tech circles.
Perhaps the most encouraging recent trend in music tech investment is that the music industry has stepped up its own efforts to nurture talented startups, particularly through accelerators and incubators.
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