Service Also Launches World’s First On-Demand Product For B2B Music Streaming, ‘Soundtrack Unlimited’
Soundtrack Your Brand, the world’s fastest growing business-to business (B2B) music streaming service, has renewed its global licensing agreement with Warner Music. The company is also introducing a new on-demand service, “Soundtrack Unlimited,” which will enable business users to have even more control over the music they play to their customers.
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Soundtrack supplies licensed, streamed music for businesses to play to attract and retain customers. It curates soundtracks by genre, sound and business type to help venues play music with a consistent vibe. The new on-demand service will enable businesses to pick and choose individual songs within those soundtracks.
The B2B music streaming market is still nascent, with many businesses still wrongly using employee’s personal streaming accounts to play music. That breaches the terms and conditions set by business-to-consumer (B2C) streaming services, and also breaches the licences those platforms hold from music rights holders.
Research from Nielsen, commissioned in 2019 by Soundtrack, estimated that rights holders were losing some US$2.65 billion worldwide because businesses are not using properly licensed services. The opportunity to grow this market is significant, with some 70 million commercial subscribers worldwide.
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Warner Music first licensed Soundtrack two years ago and in that time it has rolled its service into 74 markets and Warner’s artists have been played billions of times in 60,000 venues worldwide. The service enables artists to reach over five billion customers worldwide as they visit venues including Lululemon, McDonald’s and W Hotels.
Soundtrack also provides invaluable data to Warner, enabling the music company to see where and when its individual artists’ music is being played worldwide.
The company’s new “Soundtrack Unlimited” on-demand service retails at the equivalent of US$40-50 per month in markets worldwide. It enables businesses to jump, skip and replay tracks, as well as create their own playlists and import others from Spotify. These features were only previously available on B2C services.
Ola Sars, Founder and CEO, Soundtrack Your Brand, says: “Soundtrack is committed to increasing value in music streaming overall by fixing the broken and outdated background music market. Together with Warner Music we’re at the forefront of this change, driving innovation together in order to unlock value for music creators.”
“We’re increasing pricing by five to 10 times and therefore significantly increasing royalties paid out to labels and artists, all this enabled by a superior product offering throughout 74 markets. Now the whole industry needs to join forces and make sure that compliance is ensured across the B2B music market, as it’s our collective responsibility to help those trying to make a living from their art.”
John Rees, SVP Global Business Development, WMG adds: “Soundtrack Your Brand has created a first-class streaming service that’s tailored to deliver music and data insights to businesses across the world. Warner continues to support them during this exciting new chapter, so that we can work to ensure that fair value from the commercial sector is being returned to artists and creators. With the launch of the new on-demand product, businesses around the globe can now access Warner’s incredible catalogue in new ways.”
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