Each Sunday, we bring you Swedish technology companies who’ve been written about, or mentioned by larger international press. This week, Klarna was heavily mentioned in a TechCrunch piece on whether European software companies should move to the Valley, Spotify was slammed by a Vancouver-based music blog and Epidemic Sound was featured by Wired UK as the ‘Startup of the week’.
“Epidemic Sound has developed a library of professional-quality soundtracks that visual content creators can use in any country, on any platform, forever, for only a small fee. The company aims to simplify the massively complex music rights management business, which the founders believe is “fundamentally flawed”. Epidemic Sound buys music directly from composers and offers it up to its subscribers.”
“For Klarna, of course, being in the payments business means it has to deal with a variety of regulatory issues that make it easier for the team to grow inside the more homogeneous European market. Moving outside of Europe, Adalberth argued, is “tricky.” Payments, he also believes, are local by default and because the company only tries to tackle a few new markets per year, it will likely stick with expanding to more European markets for now and only look into expanding to the U.S. at a later time.”
“Streaming services like Spotify and Rdio erode musicians’ ability to support themselves and sustain their musical careers. In order to earn a US monthly minimum wage, an artist would need to sell 143 self-pressed CD’s a month, 155 CD’s on CD Baby, 1,229 album downloads on iTunes, or get 4,053,110 track plays on Spotify. Lady Gaga is rumoured to have made a mere $167 from over a million plays of her song “Poker Face”, the most popular song on Spotify during that period of time. If Lady Gaga, the number one artist on Spotify, can’t earn minimum wage from streaming, then who can?”