Music as an investment: How a Finnish businessman founded a Ukrainian music label to support culture

In 2023, Mikko-Pekka Hanski, one of the founders of the Finnish-Ukrainian company Double Tap Investments, established the music label Solovey Music. The platform serves as a tool for promoting Ukrainian culture abroad. Among its signatories are Ukrainian, Finnish, and Estonian artists such as Yona, Saimaa, UBRAVE, Valter Soosalu, Bianca Rantala, Inna Soloniuk, Helka, and Anastasia Bukina.

According to Hanski, music is becoming the “heartline” for creating connections between people and countries. The label has already gathered over 2,000 listeners at concerts and more than 100,000 plays on digital platforms. AIN spoke with the investor about why he needs the label and how the project is functioning now.

All photos provided by Mikko-Pekka Hanski

Why did you decide to launch Solovey Music in a country at war, at a time when discussions about investing in culture are only just beginning? 

Churchill once said, “What are we fighting for, if not our culture?” — or something like that. Of course, during a war, you need weapons to defend yourself — that’s the number one priority. At the same time, it’s important to keep the meaning of the struggle clear: to survive, to exist, and to develop. Ukrainian culture is beautiful, and as a foreigner, I wanted to highlight it to the world.

Churchill once said, “What are we fighting for, if not our culture?” — or something like that. Of course, during a war, you need weapons to defend yourself — that’s the number one priority. At the same time, it’s important to keep the meaning of the struggle clear: to survive, to exist, and to develop. Ukrainian culture is beautiful, and as a foreigner, I wanted to highlight it to the world.

I think that not only in music, but in everything else, we can and should learn here. I want to adopt the speed, intensity, creativity, and ability to tell stories.

The project budget was and remains flexible. Right now, it’s entirely my own money, but if anyone wants to join in, they’re welcome.

I think that not only in music, but in everything else, we can and should learn here. I want to adopt the speed, intensity, creativity, and ability to tell stories.

The project budget was and remains flexible. Right now, it’s entirely my own money, but if anyone wants to join in, they’re welcome to do so.

Why a music project? 

Music is a powerful tool for establishing connections or, as we say at Solovey, a “heartline.” So far, the budget is manageable. Solovey Productions Ltd, the company behind Solovey Music, is a Finnish label. 

What challenges have you faced so far?

I see challenges as gifts: obstacles are part of the journey. This is my first experience creating a label, and since I knew nothing before, everything is a learning process now.

Most of the challenges were related to promotion tactics and concert organization. The best thing was to find an existing label, Lördag, which helped us with these aspects.

How long did it take from the idea to the official launch of the label?

In May 2023, I was in Podil, where there was a drinking competition between Finland and Ukraine — I lost. And the first album on the label was released on August 15, 2023… that is, two months later.

Fragment of the cover of the label’s first release, featuring the work of Mariia Pryimachenko

Who is currently on your team? Are they Finnish professionals, or did you seek out individuals who are familiar with the local market?

The team consists of myself, but I have several contacts in Finland and Ukraine. The key contacts are artists, followed by individuals from the music industry, and thirdly, citizens of Ukraine and Finland. I prefer working with partners. I don’t have any plans to hire anyone at the moment. I will try to keep fixed costs low. All of our music production is outsourced, PR is done from time to time, and brand design is also outsourced. By the way, Fedoriv Agency took care of everything.

For Solovey Music, sensitivity and a deep understanding of the cultural identity of music are key, as well as a willingness to go beyond existing styles in search of new dimensions. This is especially important because we create music from cultures and languages that we don’t always know well.

You mentioned that this project is also a way to tell more about Ukraine. What exactly do you mean?

First, people in Finland need to know that Ukraine has its own unique and rich culture. Everyone knows about the stereotypes imposed by imperial Russia. Second, Mariia Pryimachenko, Okean Elzy, DakhaBrakha, ONUKA, Volodymyr Ivasyuk, Boombox, and Taras Shevchenko are awesome, and everyone should know about them.

A great example is the Ukraine WOW exhibition on platform 14 of the Central Railway Station in Kyiv.

Is Solovey Music today similar to the project you initially envisioned? What are your plans for development in the coming years?

To be honest, my goal and vision were simply to bring the idea to life. So yes, the current state has even exceeded my expectations. I am now exploring opportunities to delve deeper into Ukrainian culture through partnerships with Cultural Forces of Ukraine and some of my friends here.

We have gathered over 2,000 people at concerts, sold out vinyl records, seen growth in streaming, and generated hundreds of thousands of impressions on social media. I think the main impact is raising awareness about the cool and beautiful aspects of Ukrainian culture. In my opinion, your soul and spirit resonate in these songs.

So far, we have managed to organize events in the Finnish city of Turku and in the main concert hall in the center of Helsinki.

Are you already generating revenue from music, or is this purely an investment phase?

It’s still an investment phase. Most likely, the revenue from music will not be significant. We currently have over 100,000 plays on digital platforms. That’s a lot for this kind of music in Finland. 

Are you considering entering other markets besides Ukraine and Finland? If so, which ones?

Yes. I am currently in talks with contacts in Northern Europe and the Baltic States, and I am also preparing the groundwork for entering large markets such as Germany, the UK, and the US.

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