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Jay-Z buys Nordic Spotify rival Wimp

Hip hop artist Shawn Carter - better known as Jay-Z - has bought Scandinavian music steaming service Wimp and its parent company Aspiro, despite earlier claims that the bid had been blocked.

Jay-Z buys Nordic Spotify rival Wimp
Jay-Z (centre) pictured at New York Fashion week in February 2015. Photo: TT
The firm's current owners, who have 90 percent of shares in Aspiro, have accepted an offer worth $54 million (approximately 466 million kronor).
 
According to a statement from Jay-Z's company Project Panther Bidco all the conditions of the purchase have been fulfilled.
 
Aspiro has announced that the Nordic business will be delisted from the Stockholm Stock Exchange.
 
News of the deal came just over a week after it emerged that ten percent of Aspiro's shareholders had rejected the rapper's original bid, reported to have been $56 million.
 
They argued Jay Z's offer undervalued the company's future potential. It is currently the largest rival to the Swedish-owned music streaming service Spotify.
 
The largest single shareholder in the firm is the Oslo-based media group Schibsted, which together with Norwegian record company Platekompaniet AS and Norwegian Private Equity company Verdane Capital, owns a 76 percent stake. 
 
At the end of the third quarter of 2014, Wimp said it had 512,000 paying users in Scandinavia, Germany and Poland.
 
Spotify, a pioneer in the streaming music business currently has over 15 million paying subscribers.
 
Jay Z's expected takeover of Wimp will see him vie for a slice of the music streaming market pie alongside other US music stars. Apple acquired the site Beats Music from another rapper Dr Dre, in a much publicized $3.2 billion deal (SEK 26.6bn) last year.
 
In addition to several music-related ventures, Jay Z has branched out into fashion and last year bought the champagne brand Armand de Brignac.
 
Married to singer Beyonce, he was listed as the third richest hip hop artist on the planet last year, by Forbes Magazine.

MUSIC

What are the best concerts in Sweden this autumn?

Now that Sweden has lifted its audience restrictions for public events, The Local's Paul O'Mahony lists his recommendations for the best gigs to attend over the coming months.

Crowd at a music concert in Debaser, Stockholm
Crowds return to Stockholm venue Debaser after pandemic restrictions on events were lifted. Photo: Pontus Lundahl/TT

Sweden’s musicians, concert promoters and venue operators have struggled to varying degrees through the pandemic. One surefire way to help get them back on their feet is to give organisers and artists the financial reassurance they need by pre-booking concerts. 

Of course these recommendations only apply if you feel safe attending large events; remember that you should stay home and take a Covid-19 test if you experience any symptoms that could be linked to the virus, even if vaccinated. And make sure to check with organisers if there are any specific coronavirus requirements you need to be aware of. 

Coming up: top gigs in Sweden over the next few months 

As a regular gig-goer, live music is the one thing I’ve missed most over the past year and a half. So it is with some excitement (and, I’ll admit, a degree of trepidation) that I prepare to go see Norwegian band Pom Poko this Friday at Hus 7 in Stockholm. Their melodic art-punk album Cheater sparked the year into life on its release in January. They’re also playing Plan B in Malmö on Saturday night

Plan B is also the venue when Squid hit Sweden with a thrilling dose of post-punk on October 15th. Tickets remain available for the show at the time of writing (an absolute steal at 120 kronor), though that’s sadly not the case in Stockholm where their October 16th gig at Melodybox sold out a long time ago. (Although you can sign up to be added to a waiting list). 

Another artist well worth checking out in October is Gothenburg guitarist and singer Amanda Werne, better known as Slowgold. Her live shows are great and she is embarking on a Swedish tour on October 8th. 

Emma-Jean Thackray, one of the UK’s most interesting jazz artists, will be at Fasching in Stockholm on October 15th

For the best kind of sonic assault, Anna von Hasswolff’s band Bada are scheduled to play in Stockholm, Malmö and Gothenburg in late October. 

Have any of you ever seen Gothenburg electronic veterans Little Dragon live? I haven’t but might check them out in November when they swing by Malmö, Stockholm and Gothenburg

Amason are also heading out on the road for a Scandinavian tour in November. If you haven’t heard Amanda Bergman’s voice in a live setting before this will be a treat. 

The inimitable Sibille Attar released her superb second album A History of Silence at the start of the year and she’s finally getting the chance to play her eighties-inspired gems live at Slaktkyrkan in Stockholm on November 18th

Cassandra Jenkins long lurked in the background as a musician in touring bands for people like Eleanor Friedberger and Purple Mountains. But this year’s album An Overview on Phenomenal Nature has really established her as an artist to be reckoned with in her own right. She’s coming to Södra Teatern in Stockholm on November 26th

Always popular in this part of the world, The Jesus and Mary Chain return to Sweden for dates in Stockholm and Gothenburg at the end of November

Wry Finland-Swedish indie outfit Vasas Flora och Fauna have some of the funniest (Swedish) lyrics and catchiest tunes around. They’ll be in Stockholm and Gothenburg the first weekend of December

UK experimental rockers Black Midi are also playing Stockholm and Gothenburg on December 4th and 5th. So prepare to travel if you want to catch both them and Vasas Flora and Fauna. 

As if that wasn’t enough, Bob Hund’s annual ‘week 48’ show also takes place on December 4th. But that has been sold out for ages so no decisions to make there. It is also worth noting though that Sweden’s hardest working band has also written a musical that’s going to be performed in Helsingborg (October-November) and Gothenburg (November)

Bonus: For a post-Christmas pick-me-up try to get down to Little Simz at Slaktkyrkan on January 14th if you’re in Stockholm. The UK rapper’s new album Sometimes I Might Be Introvert is one of this year’s best releases. 

Selected artists playing Sweden in 2022: Henry Rollins, Sarah Klang, Yann Tiersen, Mogwai, Pearl Charles, Wolf Alice, Lloyd Cole, Lord Huron, Future Islands, Josh Rouse + Vetiver, Tricky, Snail Mail, Porridge Radio, Aldous Harding, Shame, The Kooks, The War on Drugs, Echo and the Bunnymen, Kings of Convenience, Fontaines D.C., Alex Cameron, Lucy Dacus, The Divine Comedy, Mdou Moctar, Iggy Pop, Chubby and the Gang, Sparks, Belle & Sebastian, The National, Sharon Van Etten, Teenage Fanclub, Tindersticks, Suede, Viagra Boys, Pavement. 

For bigger arena shows, Ticketmaster covers a lot of the bases. Big-name acts with gigs in the offing include Ed Sheeran, Zara Larsson, Whitesnake and, lest we forget, ABBA

And that’s just a fraction of what’s going on. Tour schedules are busier than ever now that artists are finally getting back on the road. To keep track of what gigs are coming up I can recommend checking in with Luger, FKP Scorpio, and Live Nation. Follow your favourite venues too: sometimes they cut out the middleman and do their own booking and promotion. I also use the Bandsintown app, which comes with the added bonus of receiving messages from your favourite artists which let you pretend to be their friend. 

Enjoy the gigs, and stay safe! 

Paul O’Mahony is editorial product manager at The Local. In his spare time he plays the best new indie and alternative music as host of the Signals show on Nerve Music.

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