ABBA‘s Björn Ulvaeus and Universal Music President Central Europe Frank Briegmann spoke on the future of the music industry during the me Convention in Stockholm, Sweden, on Wednesday.
During their discussion, Ulvaeus reported that after the release of Mamma Mia! Here We Go Again this summer, his iconic pop band’s streaming numbers have increased significantly — now clocking in at over 2 million a day. Meanwhile, Briegmann described ABBA as a global music phenomenon.
Briegmann also gave a summary of the music industry’s growth from the vinyl age into streaming’s introduction as a sustainable source of income and the associated shift from ownership-based to usage-based business models. Looking ahead, Briegmann was optimistic about the future and was joined by Ulvaeus in his view that record labels would continue to play an important role, even as options grow for artists to release music independently.
“Music consumption would continue to increase and new technologies such as smart speakers and connected vehicles, which are constantly online, are expected to offer new opportunities,” said Briegman, adding those “will enable labels and their artists to expand their reach and increase their revenues going forward.”
me Convention is an open platform for creative people. After events in Austin, Texas, and Frankfurt, Germany, the conference’s third edition took place in Stockholm from Sept. 4-6. me Convention is a joint project of South by Southwest and Mercedes-Benz.