Business Reporter: Background music moves to the forefront

How B2B music streaming platform Soundtrack Your Brand can bring unexpected benefits, while also being ethical

LONDON, UNITED KINGDOM, October 27, 2021 / — – Business-to-business music streaming, “background music,” is a major future growth driver of the music streaming market. However, despite its potential to add significant incremental value to the music industry, the B2B music market still lags behind B2C music streaming, which has already been around for over a decade and adopted by the masses. Soundtrack Your Brand is pioneering the B2B music streaming sector, committed to bringing the neglected background music sector into the digital streaming era.

In a video published on Business Reporter, Ola Sars, Founder, CEO & Chairman, Soundtrack Your Brand, talks about the new opportunities that B2B music streaming can bring for shops, pubs, restaurants and other commercial venues in terms of footfall, average frequency and length of visits, and – eventually – the bottom line. In summary, good music equals better business. Additionally, upgrading the broken legacy model and fixing the antiquated background music industry is crucial to ensure artists and songwriters receive proper compensation when their music is being played in a commercial setting.

According to Nielsen Research, rights holders are losing some US$2.65 billion worldwide from businesses not using properly licensed services in their establishments. Surveys suggest that no more than 10 percent of the tens of millions of commercial venues around the world play music from sources that creators of the music receive a stream of revenue from. Soundtrack is looking to change that with its full song trackability, offering artists and songwriters usage-based compensation and clear accountability when their music is played in a business and public environment, all while at the same time providing businesses with an all-in-one solution for streaming music legally to attract and retain customers.

The positive impact that well-curated music can have on the traffic of a venue has been so far overlooked. Playing the right brand fit music can lead to customers staying longer and spending more. Studies on B2B music streaming have demonstrated that music that suits the taste and mood of a shop’s or bar’s audiences can increase topline sales up to 90 percent, while also boosting the brand image of the venue, positioning them as a responsible business that subscribes to a service that supports artists with a higher commission than B2C streaming services do.

Soundtrack Your Brand’s proprietary technology and data insight affords businesses in-depth analysis on how playing music that reflects their brand’s values impacts a business, from noticeably moving sales to directly affecting customer satisfaction. For global chains, it can be especially strategic to have a central dashboard which can provide them with transparency and control over how the music played in their establishments around the world suits different time zones, venue themes and audiences.

To learn more about the new opportunities B2B music streaming offers, watch the video.

•• About Business Reporter ••

Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.

•• About Soundtrack Your Brand ••

Soundtrack Your Brand helps thousands of businesses strengthen relationships with customers through music. By combining expert curation and world-class tech, Soundtrack Your Brand provides a beautiful all-in-one solution for streaming music to stores, hotels, restaurants, and other commercial settings. Founded in 2013 by Ola Sars as a joint effort with Spotify, Soundtrack Your Brand is the world’s fastest-growing B2B music streaming service, working with iconic brands such as McDonald’s, Lululemon, J. Crew, Uniqlo, Joe & The Juice, Aesop, W Hotels.

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Source: EIN Presswire