Stockholm-based Soundtrack Technologies has announced its acquisition of two key European players in the background music industry, Tunify from Belgium and Ambie from the United Kingdom. This strategic move significantly expands Soundtrack's European presence and reinforces its mission to consolidate the fragmented international market for business music streaming. The acquisitions mark a pivotal step in the company's growth, integrating local expertise with its global technology platform.
Strategic European Expansion
With the integration of the Tunify and Ambie teams, Soundtrack establishes a direct commercial and operational footprint in the UK and the Benelux region. These new local teams will complement the company's existing staff in Stockholm and the United States, strengthening its overall European operations. As part of the integration, both Tunify and Ambie will be rebranded under the Soundtrack name, unifying the company's global identity.
These acquisitions serve as a launchpad for a broader merger and acquisition strategy planned by the Swedish firm. Soundtrack aims to continue consolidating the market by acquiring and integrating regional legacy operators in sectors like retail, hospitality, and other service industries. This approach is designed to create a more cohesive and legally compliant global standard for commercial music streaming, benefiting both businesses and rights holders.
A 'Local Focus, Global Scale' Philosophy
Ola Sars, the founder and CEO of Soundtrack, emphasized the philosophy driving these acquisitions, stating that while music is a universal language, business remains inherently local. He explained that by welcoming Ambie and Tunify, the company is not merely acquiring customer bases but investing in the distinct cultural and musical nuances of these markets. This strategy combines a deep appreciation for local tastes with the power of a worldwide platform.
This approach allows Soundtrack to provide a robust global infrastructure for rights management and dependable streaming while leveraging the specialized knowledge of its new teams. The incorporation of Tunify and Ambie ensures that regional businesses will continue to receive the hyper-localized curation and dedicated service they value. This dual focus on global scale and local expertise forms the core of Soundtrack's value proposition to its international clientele.
Integrating Expertise and Technology
The acquired companies bring significant regional expertise and established client relationships to the table. Founded in 2015, London-based Ambie serves a prestigious hospitality client list that includes Rocco Forte, Hyatt Hotels, and Hilton. Meanwhile, Tunify, a 2017 spin-off from the University of Leuven, has built a strong presence across the Belgian and Dutch retail and hospitality sectors, demonstrating deep market penetration.
Clients of the newly acquired firms will now gain access to Soundtrack’s advanced technology platform and its extensive resources. This includes a vast, fully licensed library of over 125 million tracks, ensuring full legal compliance for commercial use. Furthermore, customers can utilize sophisticated features such as an AI-powered playlist generator, multi-location remote management tools, and AI-driven music scheduling to enhance their brand's atmosphere.
Market Position and Financial Backing
Originally founded in 2013 as a joint venture with Spotify called Spotify Business, Soundtrack has grown into a global leader serving over 100,000 subscribers in 75 countries. The company's impressive client roster includes major international brands like Uniqlo, Dr. Martens, Four Seasons, and TAG Heuer. This established market position is built on a foundation of direct licensing deals and a commitment to technological innovation.
Soundtrack's ambitious growth strategy is supported by significant financial investment, including a €12.6 million ($15 million) pre-growth funding round in 2023. The round was led by MUSIC, a holding company in collaboration with Liontree and other prominent investors, signaling strong market confidence in Soundtrack's vision. This capital infusion is fueling the company's ongoing efforts to acquire and integrate key regional players worldwide.
In conclusion, Soundtrack's acquisition of Ambie and Tunify is a calculated move that solidifies its leadership in the European B2B music streaming market. By blending its powerful global platform with specialized local curation, the company is poised to accelerate its consolidation strategy and set a new standard for the industry. This strategic expansion underscores a clear vision for a future where commercial music is both globally accessible and locally relevant.