Soundtrack Your Brand
Soundtrack Your Brand (formerly known as Spotify Business) is a Swedish music technology company that was co-founded by Spotify in 2013 and carries the world's biggest catalog for background music, some 26 million songs.[1][2] The company licenses encrypted music from record labels and publishers and streams it to businesses, such as McDonald's and Swiss watch brand TAG Heuer’s stores.[3]
In total, the company has raised some $40 million, with investors such as Balderton Capital, Sweden’s Industrifonden, Telia, and the H&M’s family investment fund.[4] Spotify is Soundtrack Your Brand's largest external stakeholder, controlling about 15 percent of the share capital.[5]
In 2017, Soundtrack Your Brand cut its musical ties with Spotify to build its own library of music.[6]
In 2018, the company took a public stance as a corporate advocate for the rights of music creators. In collaboration with Nielsen, it showed that artists and record companies lose $2.7 billion every year because business owners stream music from personal accounts on services such as Spotify and Apple Music rather than from commercial-use music services.[7][8][9]
According to the Nielsen study, only 17% of businesses use services legal for business. Confusion about the legality of streaming music from consumer accounts is overwhelming, with 71% of U.S. business owners claiming they may use private consumer accounts in their business.[10]
Soundtrack Your Brand is available in most countries in Europe, North America, and elsewhere.[11]
References
- ↑ "Spotify-backed Soundtrack Your Brand raises $22 million for expansion". Reuters. 2017-02-17. Retrieved 2019-03-20.
- ↑ "Soundtrack Your Brand: "Vi har nu världens största musikkatalog för bakgrundsmusik"". digital.di.se/. 2018-04-16. Retrieved 2019-03-20.
- ↑ "Spotify-backed Soundtrack Your Brand raises $22 million for expansion". Reuters (in italiano). 2017-02-17. Retrieved 2019-03-15.
- ↑ "Soundtrack Your Brand, a 'Spotify for B2B' nabs $22M for expansion". TechCrunch. Retrieved 2019-03-20.
- ↑ Reporter, Staff (2017-02-17). "Spotify-Backed Soundtrack Your Brand Gets $22 Million Investment To Bring Music Streaming Services For Businesses". Tech Times. Retrieved 2019-03-15.
- ↑ "Swedish Muzak Startup Ditches Spotify in World Expansion Bid". Bloomberg. 17 February 2017.
- ↑ Steele, Anne (2018-10-15). "Attention Shoppers: The Background Music You Hear May Not Be Licensed". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-03-18.
- ↑ Wang, Amy X.; Wang, Amy X. (2018-10-15). "Music Loses $2.65 Billion a Year From the Likes of Coffee Shops". Rolling Stone. Retrieved 2019-03-18.
- ↑ "Your Local Cafe Is Probably Streaming Music Illegally". Bloomberg. 15 October 2018.
- ↑ "Music Industry Is Missing Out on $2.65B a Year From Stores' Improper Streaming, Says Study". Billboard. Retrieved 2019-03-18.
- ↑ "Where Soundtrack is available". Soundtrack. Retrieved 2019-03-20.
External links
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