There is talk of a tech bubble. There are signs of a major slowdown in venture funding. If any of this is true, music tech didn’t get the memo until after the end of 2015.  Last year, investments in music tech companies more than doubled to $2 billion.

Analysis by Music Ally shows just under $2 billion was invested in 36 music tech companies  in 2015. That’s twice the $947 million invested in 33 companies in 2014.  Spotify alone raked in $526 million, or one quarter of all music tech investments last year.

2016 is promising to be a far tighter year for investments and dark clouds are forming over some big players like Soundcloud. But a possible IPO by Spotify could, if successful, reignite venture interest in music tech investment.