Business-to business (B2B) music streaming service Soundtrack Your Brand has renewed its global licensing agreement with Warner Music.
The company is also introducing a new on-demand service called Soundtrack Unlimited, which gives business users more control over the music they play to their customers.
Today’s news follows the announcement in August that Soundtrack Your Brand and Universal Music Group (UMG) have inked a global licensing deal, excluding China.
Soundtrack supplies licensed streamed music for businesses to play. It curates soundtracks by genre, sound and business type.
The new Soundtrack Unlimited on-demand service will enable businesses to pick and choose individual songs within those soundtracks.
Soundtrack Unlimited retails at the equivalent of $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, features that were only previously available on B2C services.
Warner Music first licensed Soundtrack two years ago and in that time it has launched its service in 74 markets and Warner’s artists have been played billions of times in 60,000 venues worldwide, according to a press release.
The service enables artists to reach over five billion customers worldwide via venues including Lululemon, McDonald’s and W Hotels.
Soundtrack also provides data to Warner, which enables the music company to see where and when its individual artists’ music is being played worldwide.
Research from Nielsen, commissioned in 2019 by Soundtrack, estimated that rights holders were losing some $2.65 billion worldwide because businesses are not using properly licensed services.
“TOGETHER WITH WARNER MUSIC WE’RE AT THE FOREFRONT OF THIS CHANGE, DRIVING INNOVATION TOGETHER IN ORDER TO UNLOCK VALUE FOR MUSIC CREATORS.”
OLA SARS, SOUNDTRACK YOUR BRAND
Ola Sars, Founder and CEO, Soundtrack Your Brand, said: “Soundtrack is committed to increasing value in music streaming overall by fixing the broken and outdated background music market.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.”
“SOUNDTRACK YOUR BRAND HAS CREATED A FIRST-CLASS STREAMING SERVICE THAT’S TAILORED TO DELIVER MUSIC AND DATA INSIGHTS TO BUSINESSES ACROSS THE WORLD.”
JOHN REES, WMG
John Rees, SVP Global Business Development, WMG added: “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.”
H/T : Music Business Worldwide