Ever find yourself tapping your toes to the latest tunes… at McDonald’s?
Startups like Soundtrack Your Brand could be the reason why. The company just inked a deal with Universal Music Group to help corporate clients build streaming-safe playlists.
Licensing deals are music to artists’ ears
Musicians are supposed to get paid each time their music plays in public. But the industry loses an estimated $2.65B/year when businesses blast the manager’s personal Pandora stations.
Companies pay Soundtrack Your Brand $30-$40/month for music. Its revenues for 2018 were ~$3.5m.
The background biz has playlists down to a science
The psychology of music is powerful — and companies like Music Concierge are all about taking advantage of it.
According to Ambie, another music consultant, consumers are 24% more likely to buy a product when they dig the tunes they hear.
A few more things music can do, according to science:
- Traditional French music might make wine shoppers choose a French Sauternes over a German Gewurztraminer.
- Bright bops in the AM and down-tempo sounds in the PM can get a restaurant’s morning rush out the door, or lull dinner guests into staying for dessert.
- It can tame savage beasts — err, shoppers — so they’re less cranky to salespeople.