Stockholm-based B2B music streaming service Soundtrack Technologies (formerly Soundtrack Your Brand) has acquired two background music providers.
Soundtrack, formerly Soundtrack Your Brand, bought UK-based Ambie, which provides background music to hospitality companies, and Tunify, which operates in Belgium and the Netherlands.
Financial terms of both transactions were not disclosed. Both companies will adopt the Soundtrack brand while retaining their local teams.
Soundtrack was established in 2013 as a joint venture with Spotify and initially operated under the name Spotify Business.
The company later rebranded to Soundtrack Your Brand before rebranding to its current name. It claims to have secured “thousands” of direct licensing deals with rightsholders and maintains a library of over 125 million tracks.
The new deals give Soundtrack operational presence in the UK and Benelux region, adding to its existing offices in Sweden and the US. The company now serves customers across 75 countries.
Ola Sars, founder and CEO of Soundtrack, said: “Music is a universal language, but business is local. By welcoming Ambie and Tunify to Soundtrack, we aren’t just acquiring customer bases; we are investing in the specific cultural and musical nuances of several markets.
“We are thrilled to bring their expertise into the Soundtrack family: it’s a strategy of local focus and global scale.”
“Music is a universal language, but business is local. By welcoming Ambie and Tunify to Soundtrack, we aren’t just acquiring customer bases; we are investing in the specific cultural and musical nuances of several markets.”
Ola Sars, Soundtrack
Ambie’s client roster includes hotel groups Rocco Forte, Hyatt, and Hilton, along with restaurant operator D&D London. Tunify has built relationships across Belgian and Dutch retail and hospitality sectors. Those customers now gain access to Soundtrack’s technology platform, which features AI-driven music scheduling, remote management tools, and a catalog of more than 100 million licensed tracks.
On its website, Tunify said users’ current Tunify account will keep working as usual following the acquisition.
Soundtrack said the music-for-business market represents a significant growth opportunity. More than 100 million commercial locations worldwide use music to enhance customer experience, creating a potential market worth $40 billion in incremental annual retail value, the company said.
The platform has attracted more than 100,000 subscribers, including global brands such as Uniqlo, Dr. Martens, Four Seasons, Kiehl’s, Joe & The Juice and TAG Heuer.
In 2023, Soundtrack raised $15 million in a pre-growth round led by MUSIC, a holding company run by Matt Pincus in partnership with Liontree, JS Capital Management, and Schusterman Family Investments.
Previous investors including Balderton Capital, Fuel Venture Capital, Industrifonden, Telia, and DIG also participated.
Soundtrack says its acquisition strategy aims to integrate regional legacy operators into its platform.
The company’s co-founder, Ola Sars, co-founded Beats Music, which Apple acquired in 2014.
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