Soundtrack Technologies Acquires Competitors | B2B Music Streaming News

Sweden-based soundtrack Technologies is expanding its reach, acquiring competitors Tunify and Ambie as it aims to become a dominant force in the business music streaming market.

Consolidating the Soundtrack: A $40 Billion Opportunity

The music streaming service,used by brands like Uniqlo and Hyatt,is betting big on international growth through strategic acquisitions.

• Soundtrack Technologies,founded in 2013,now serves 100,000 business subscribers across 75 countries.
• The company estimates the total addressable market for business music streaming at a substantial $40 billion.
• Acquisitions of Tunify (Belgium/Netherlands) and Ambie (U.K.) will help Soundtrack integrate regional players and tailor its offerings.
• Soundtrack’s client roster includes Dr. Martens, Kiehl’s, and Joe & The juice.

Soundtrack Technologies, a music streaming service providing curated audio experiences for businesses, announced the acquisition of Tunify and Ambie, signaling a move to consolidate its position in the rapidly growing market.The company, which powers the soundtracks in locations like Uniqlo stores and Four Seasons hotels, believes the market for licensed business music could be worth as much as $40 billion.

Did you know? – Soundtrack Technologies was initially a joint venture between Spotify and its current CEO, Ola Sars, launched in 2013. This origin provided a strong foundation in music licensing and technology.

A Global footprint, Locally Tuned

Founded in 2013 as a joint venture between Spotify and CEO Ola Sars, Soundtrack boasts a library of 125 million tracks available through direct licensing agreements. It currently serves 100,000 business subscribers in 75 countries. “Music is a worldwide language, but business is local,” Sars said in a statement. “We aren’t just acquiring customer bases; we are investing in the specific cultural and musical nuances of several markets.”

What kind of businesses use Soundtrack Technologies? The company’s client base is diverse, ranging from retail giants like Dr. Martens and Kiehl’s to popular café chains like Joe & The Juice and luxury brands like TAG Heuer.

The acquisitions of Tunify, popular in Belgium and the Netherlands, and Ambie, a leading provider in the U.K., are intended to streamline a fragmented market and “integrate regional legacy incumbent operators,” according to a company press release. Customers of Tunify and Ambie, which also include Hyatt and Hilton hotels, will now have access to Soundtrack’s AI playlist generator and other services.

Pro tip – Businesses should ensure their music licensing is compliant to avoid potential legal issues. Soundtrack Technologies handles this complexity for its subscribers.

Investment and Future Growth

Previously known as Soundtrack Your Brand, the company secured $15 million in funding in 2023 from investors led by M

Why did this happen? Soundtrack Technologies aimed to expand its global reach and consolidate the fragmented business music streaming market, capitalizing on the estimated $40 billion opportunity. The company sought to leverage its existing technology and licensing agreements to offer a more comprehensive service.

Who was involved? Soundtrack Technologies,led by CEO Ola Sars,acquired Tunify (Belgium/Netherlands) and Ambie (U.K.). Key clients include Uniqlo, Hyatt, Dr. martens, Kiehl’s, and Joe & The juice.Investors led by M provided $15 million in funding in 2023.

What occurred? Soundtrack Technologies purchased Tunify and ambie, integrating their customer bases and services into its platform. This included access to soundtrack’s AI playlist generator for tunify and Ambie customers