A Spotify for Elevator Music, Soundtrack Your Brand, Could Finally Uncover Streaming’s Elusive Profits
A music-streaming startup partly owned by Spotify is going after the elevator-music market — and it’s squarely aiming at the company that currently dominates it.
Soundtrack Your Brand, which is about 30% owned by Spotify, introduced itself in the US on May 5 with the announcement of a deal with McDonald’s. It won’t be a big revenue driver, but it gives the Swedish startup its first foothold outside Scandinavia — and sets up a clash with the industry’s current market leader, Mood Media, which is the successor company to the brand that practically invented the idea of ambient music in shops: Muzak.
Source: Quartz