Growing Swedish music industry leaves lesser known artists struggling
The Swedish music industry is thriving, but a lot of the success is enjoyed by big-name musicians, leaving many less-well-known musicians finding it harder to make a living today.
Last year the revenues from the Swedish music industry reached SEK 8.2 million, which is a five percent increase compared to the year before, and compared to 2009, this is a 25 percent increase.
Notably, royalty revenues have gone up 6 percent since 2013. At the same time concert revenues have dropped to about 50 percent compared to 2007.
According to Linda Portnoff, chairman of the organization Musiksverige, this is deeply concerning.
"We think it might have something to do with the fact that artists today enter a global market from day one. They can find a British manager or have a German agent. And that way, we don't see that revenue as an export income to Sweden. Instead that goes to that country," she says.
Revenues from live performances still count for 51 percent, royalties for 27 percent and recorded music for 22 percent.
The Swedish music industry is also going through a change towards becoming more hit-oriented, according to Portnoff. This means that it's harder for smaller actors to find capital.
"If we want to have diversity, we need to support the music that can't really stand on its own feet in the commercial market. We need not only super arenas for huge super hits, we need also a vital music climate for the smaller actors," said Portnoff.