Business-to-business cloud-based music streaming service Soundtrack Your Brand and Universal Music Group (UMG) have inked a global licensing deal, excluding China.
Founded in 2013 by Ola Sars (pictured), Soundtrack Your Brand claims to be “the world’s fastest-growing B2B music streaming service” and works with brands such as McDonald’s, Lululemon, J Crew, Uniqlo, Joe & The Juice, Aesop, W Hotels.
Spotify was a stakeholder in Soundtrack Your Brand in the past: SPOT’s 2018 annual financial report revealed that Daniel Ek‘s company recognized revenues from Soundtrack Your Brand of €3m in 2018, €3m in 2017 and €2m in 2016.
However, there was no mention of Soundtrack Your Brand in Spotify’s 2019 annual report.
In 2019 Soundtrack Your Brand commissioned Nielsen to carry out a study on background music, which found that music rights-holders around the world may be losing out on at least $2.65 billion each year because small businesses like coffee shops or restaurants are playing background music through personal streaming accounts.
Soundtrack states that its proprietary technology and data insights provide businesses using its platform with “in-depth analysis” on how playing music impacts their business, “from noticeably moving sales to directly affecting customer satisfaction”.
“Together with partners like UMG, we have reimagined the licensing and business-to-business model.”
Ola Sars, Soundtrack Your Brand
Ola Sars, Founder and CEO, Soundtrack Your Brand said: “Together with partners like UMG, we have reimagined the licensing and business-to-business model.
“We hold the conviction that music has intrinsic value as an art-form and that creators must be compensated for their contribution to a business.
“Brands can benefit artists in accessing new fans, if their in-store music is insightfully matched to their customer and brand values.
“It is my belief that through Soundtrack, there is substantial value to be unlocked for artists, rights owners and brands.”
“In Soundtrack, we have a partner whose technological and strategic reimagining of an evolving business-to-business model will support us in ensuring creators are valued and fairly compensated.”
James Healy, Universal Music Group
James Healy, SVP Digital Strategy and Business Development, Universal Music Group, added: “In Soundtrack, we have a partner whose technological and strategic reimagining of an evolving business-to-business model will support us in ensuring creators are valued and fairly compensated.”
“I couldn’t be happier for our customers who can now access UMG’s incredible artists and their music through their unrivalled catalogue and new frontline releases.”
Paul Stuart, Soundtrack
Paul Stuart, Head of Licensing and Business Affairs, Soundtrack, said: “Whether you run a bar in Brooklyn, a café in Sydney or a multinational brand, customer experience is everything.
“I couldn’t be happier for our customers who can now access UMG’s incredible artists and their music through their unrivalled catalogue and new frontline releases.”Music Business Worldwide
