The U.K.’s music technology sector has called for greater recognition following the publication of a brand-new report at SXSW London 2026.

On Monday (June 1), the trade association MTUK (Music Technology UK) released its Sound Investment report and hosted a number of panels and keynotes at the London conference, which runs from June 1-6.

Matt Cartmell, MTUK’s CEO, spoke to Billboard U.K. on the pressures the industry is facing and the current trend that’s seeing music technology companies struggling to fulfill their potential.

The Sound Investment report found that while music tech startups are able to attract investment in their seed phases, investments do not always follow through to the growth stage, which causes the U.K. to lag behind other markets. According to the report, investment in growth-stage companies has fallen by 90% — from £101 million ($138 million) in 2020 to £10 million ($13.7 million) in 2025.

“The U.K. has a strong pipeline of music innovation, but scaling globally requires more than capital. It needs earlier access to the right commercial guidance and networks to help level the playing field and translate innovation into growth,” says Patrick Molyneux, head of the venture fundraising advisory at financial giant KPMG.

MTUK defines a company as one that “makes its primary revenue from the development, production, and exploitation of technology, rather than from exploiting the commercial assets of the music industry (musical compositions, master recordings, live musical performances, or artist brands) or from analog product manufacturing (vinyl, guitars).”

The report says that in 2020, the level of investment in U.K. music tech companies matched up to 76% of funding compared to the U.S. But in 2025, that number dropped dramatically — to just 21%. Through 2023, the formation of U.K. music tech companies remained stable, with 66 new companies. But in 2025, that had fallen to just 28 new companies. 

The Sound Investments report also exposes the U.K.’s concentration of music tech companies in London and the southeast of the country, with the region encompassing 64% of those companies. Meanwhile, companies based in Wales, the North East and Northern Ireland have registered little to no investment since 2020.

“There’s a problem with recognition of this as being an actual sector,” Cartmell tells Billboard U.K. “First of all, we’ve got to get really back to brass tacks right and recognize the fact that this is a sector that deserves funding. The way we look at it is that music tech is the infrastructure layer for the music industry and the global music economy.”

Cartmell explains that a clearer narrative would help music tech companies become more attractive to investors and provide a greater understanding of their role and importance in the music creation process. The Labour government’s Creative Industries Sector Plan in 2025 saw a number of provisions aimed at the music industry, particularly around support for grassroots music venues and supporting greater measures to protect fans from ticket touts — but the music tech sector was absent from the report, which Cartmell attributes to a lack of understanding of the role these companies play.

“There needs to be more recognition of the value that music tech brings,” Cartmell continues. “It’s not a beneficiary of the music industry; it’s actively responsible as a part of its success.”

Cartmell points to the unified approaches for the U.K.’s film, TV and video game industries, which have benefited from tax relief and investment programs to encourage growth. “A number of years ago, those industries were properly recognized as distinct sectors,” he says. “Once that happens, you can start to align specific investment vehicles, create tax incentives for investment and support the sector because you recognize the value of them to the U.K. economy.”

Furthermore, the political instability in the U.K. and the government’s muddled response to AI legislation has created uncertainty for investors. In March, the government abandoned plans for its “opt-out” model for rightsholders, with Lisa Nandy, secretary of state for culture, media and sport in the U.K., admitting at the time that the government’s “opt-out” approach had gotten it wrong. Paul McCartney, Elton John and a number of industry leaders had been among the names to protest this model and call for greater creator protections.

“[The government] needs to make some kind of decision [on A.I.],” Cartmell says. “Things will start becoming a bit more fluid as a result. There’s not enough fluidity in the sector at the moment, there’s not enough money moving around, and I think the government’s lack of response to A.I. is a big element to this.”

Cartmell says that the U.K’s music tech sector remains a world leader, particularly around “data collection and royalty infrastructure” as well as the “financial services sector.” He points to Yoto, an award-winning screen-free audio player for children, as an example of the sector’s resilience and ingenuity; the U.K. startup received $22 million in funding in 2024, with McCartney and Mark Zuckerberg among the investors. Audio equipment engineer Focusrite, formed in High Wycombe in 1981, is another example of a British company that continues to lead the way in its field.

The MTUK’s multiday showcase and conference at SXSW London welcomed representatives from the government, including Ian Murray from the Department of Culture, Media and Sport, and allowed new perspectives and ideas from within the U.K. as well as from attendees who had traveled from Europe and Asia. “We want to get fresh perspectives and get something done,” Cartmell says.

Does it ever drive you crazy just how fast the night changes? Not too long ago, One Direction was the biggest boy band on the planet — a title that BTS now objectively holds — and in a new interview, Niall Horan shared his thoughts.

The 1D alum opened up to Jake Shane on the Wednesday (June 3) episode of Therapuss about the similarities and differences between his former boy band and the Bangtan Boys. “None of our bit was super choreographed or right or anything like that,” Horan said on the topic of K-pop groups on the podcast. “So they’re very different.”

“Each generation seems like it’s got boy bands, but they’re all kind of different to each other,” he continued. “We didn’t wear all white outfits and do routines and things like, say, *NSYNC or Backstreet [Boys]. We just kind of walked around [on stage]. The K-pop thing is I guess more structured — but they look like athletes.”

The Irish singer-songwriter went on to praise BTS specifically. “When you watch BTS dance, you’re like, ‘OK, honestly, I have no idea how to do anything you’re doing, but it’s kind of crazy what you’re doing it.’ It’s pretty intense, but it’s amazing.”

Also comprised of Harry Styles, Zayn Malik, Louis Tomlinson and the late Liam Payne, One Direction may not have done much dancing, but the group still dominated pop culture for years. The X Factor quintet scored 29 entries and six top 10 hits on the Billboard Hot 100 before BTS picked up the baton, with the K-pop superstars now boasting seven No. 1s to date.

Elsewhere on the pod, Horan gave flowers to another dominant force in music: Taylor Swift. Saying that her 2019 Lover track “Miss Americana and the Heartbreak Prince” “might be her best” song, the former Voice coach said, “The melody is so good … I love that line, ‘Play stupid games, you win stupid prizes.’”

“And ‘Me!’” Horan added. “‘Me!’ is a good song, too.”

Horan’s new album, Dinner Party, arrives Thursday (June 5). Check out his full interview on Therapuss below.

On Wednesday (June 3), Billboard honored this year’s Country Power Players honorees during a ceremony held at The Eye Rooftop at Category 10 in downtown Nashville, celebrating many of the genre’s top artists and music executives.

Billboard co-chief content officers Leila Cobo and Jason Lipshutz ushered in the evening by recognizing the current and enduring power of country music.

“It is an artform that is constantly expanding … new superstars, new smashes, setting new records, innovating while valuing longstanding traditions,” Lipshutz said. “Billboard‘s charts tell us that country is enormous right now, but everybody on this rooftop knows that country music is, was and always will be timeless.”

Melinda Newman, Billboard’s executive editor of West Coast/country hosted the ceremony, and joined in celebrating the executives highlighted on Billboard‘s Country Power Players list and the artists being honored. She also praised executive and artist honorees for the “unprecedented success that country music is experiencing as it continues to surge both domestically and internationally because of your efforts.” 

Billboard Country Power Players cover artist Green was honored with the Hitmaker award. “His music is pure country,” Clint Black said when presenting Green with the recognition, later adding, “I’m impressed with his songwriting.”

Green, a four-time Country Airplay topper, noted that the honor meant a lot to him as an artist who is the sole writer behind some of his hits, such as “Worst Way” and “Don’t Mind If I Do” — and it was fitting that Black, who is also known for writing the bulk of his own hits, presented the award to Green.

“For me, this kind of recognition is a pat on the back that gives me the confidence to go out and write more songs and play more shows,” Green said, acknowledging many of the members of his team. He also dedicated the award to his late “granddaddy Buford” who “loved country music.” “I had a lot of great role models growing up,” said Green, who recalled his grandmother Lola Jean recently attending one of his sold-out shows in Atlanta. “She said, ‘Man, I just wish Buford could see this.’ It’s moments like this that make me very certain he’s sittin’ in a recliner somewhere watching down on this.”

HARDY presented the Rising Star award to Tucker Wetmore, who has been piling up hits including “Brunette” and “3, 2, 1” and taking his engaging live shows to fans around the world this year.

“One thing I do know about him is he works extremely hard and what comes from hard work is success, and hopefully what comes from success is being recognized for that,” HARDY said. “I know for a fact that this guy has been working his ass off … he’s a really good guy … you’ve taken Nashville by storm.”

Accepting his honor, Wetmore said, “First and foremost, I am nothing without God. He has moved mountains in my life that I never thought would be possible and I just want to thank everybody. I look around this room and there are so many people that have made an impact not just on my life, but on my family’s life and my friends life.” He thanked many of his industry colleagues, including those at MCA, Mercury, WME and OH Creative, before adding, “It’s a crazy life that we are able to live as musicians and as artists, and I’m thankful that I get to wake up and do that thing that God put on my heart every single day.”

Comedian Matt Rife presented group The Red Clay Strays with the Groundbreaker award, and blended humor and heart in his presentation. “It is my honor to present this award today to my very good friends and my favorite band in music today, The Red Clay Strays,” he said, calling the group’s music “a timeless sound that sends us back to music’s golden age.”

“Thank you guys for giving this to us,” frontman Brandon Coleman said when accepting the honor. “We don’t really feel like we’ve broken any ground, we just try to make art that is true to us and is something we’d be happy to leave behind once we’re gone … the fact that we’ve been given an award that is named groundbreaker is pretty awesome cause all we’ve been doing is working and trusting God and just trying to tell the truth. We certainly appreciate you guys.”

Seven-time Country Airplay topper Miranda Lambert was recognized with the Icon award. Songwriter Tom Douglas, co-writer of one of Lambert’s signature hits, “The House That Built Me,” presented the honor, calling Lambert “the kind of tough that teaches” and “rugged enough to weather whatever this town brings, and generous enough to let the young ones stand on her shoulders.”

“I’m so thankful for the opportunity to be in this community,” Lambert said. “I’m trying to lift up the next generation. Country music is my life, it’s what I’ve dedicated my entire adulthood to and I still feel that even though I’ve been doing this for 23 years … thank you for all the support all these years.”

Billboard’s Country Power Players Executive of the Year honor was awarded to The Neal Agency’s Austin Neal, who helps guide the touring careers of artists including Riley Green, Morgan Wallen, Ella Langley, Bailey Zimmerman and Nate Smith. 

Neal’s father, retired WME partner Kevin Neal, presented the honor, saying, “I’m so proud of my son, Austin, for receiving this award … Austin has succeeded beyond belief, and he’s such a good person.” He also noted that although The Neal Agency began as a boutique agency, “it is no longer a boutique agency,” thanks to its powerhouse roster.

Taking the stage, Neal grew emotional when discussing the full-circle moment of his father being the one to present the accolade, and also recalled his own early belief in Green’s music. “There are so many people here who have touched my career and I can’t thank each of you enough,” Neal said.

As CMA Fest week kicks off in Nashville, Billboard will Billboard Country Live, a two-day event headlined by The Red Clay Strays (June 4) and Tucker Wetmore (June 5). Other performers at the event, which begins at 3 p.m. each day, include Carly Pearce, The Band Perry, Chase Rice, Lanie Gardner, Ty Myers, Kaitlin Butts, Stella Lefty, Braxton Keith and Alana Springsteen.