German Tech: Global Groove
Matthias Strobel, president of the industry association MusicTech Germany, provides some insights that should be music to investors’ ears.
What distinguishes the German music tech industry?
Historically, German inventors have been responsible for just about everything that fundamentally changed the music industry: from the gramophone to the microphone to the MP3. But the market was more condensed in those days. Today, there’s a huge range of different tools.
What technologies will shape the future of the industry?
We’re already at the point where virtually any kind of music is available anywhere. The next step is personalized music experiences – for example, there are firms that are using algorithms to recreate frequencies that people lose as they age, and firms that are making apps that remove the technical and financial barriers to musical creativity.
What are the most promising companies in your industry right now?
The ones who are working out how artists can get paid more fairly by setting up metadata banks or working with blockchain. They will play a big role because the market is getting so fragmented.