LOS ANGELES–(BUSINESS WIRE)–January 27, 2022–
Soundtrack Your Brand, the pioneer and market leader in digital music streaming for businesses, has named Lisa Farris Chief Marketing Officer, reporting directly to Founder and CEO Ola Sars. In this role, Farris will oversee the global marketing function as Soundtrack continues to generate new revenue for artists and rights holders while helping businesses build stronger customer relationships through music. Previously, Farris served as Director of Marketing and Innovation for The Recording Academy | GRAMMYs, leading the evolution of the organization’s marketing, ideas and innovation that reflect changes in music and its creators. Farris brings extensive experience in harnessing technology to transform the way brands, music and audiences interact.
Lisa Farris, Marketing Director of Soundtrack Your Brand (Photo: Business Wire)
According to a new study commissioned in the fourth quarter of 2021, MRC Nielsen estimates that approximately 80% of American companies are illegally using consumer music streaming services, representing a loss in value of more than $10 billion per year for the American music industry. The fastest growing B2B music platform providing “background music” to stores, restaurants, bars, hotels, spas, etc., brings the flexibility of music streaming technology to brands and businesses for a improved user and consumer experience. Soundtrack’s model is based on full song traceability, providing artists and songwriters with usage-based compensation and clear accountability when their music is released in commercial and public environments.
“I am thrilled to join Soundtrack Your Brand , work closely with Ola and the leadership team, to unlock greater value for music creators and businesses so they can leverage the power of music to improve customer experience and increase sales said Farris. “Soundtrack’s unrivaled on-demand music streaming offering, licensed for professional use, not only captures lost artist revenue, but delivers the best background music experience for global brands and businesses of all sizes. “
Farris’ brand and marketing transformation experience includes leadership roles at Universal Music Group’s MetricVision, Move, Inc./Realtor.com, eLabs and MCA Records, as well as being the founder of Get This, a technology which leverages audio recognition to purchase TV and video entertainment. . With Soundtrack, she will focus on the potential of the global business music market. The global music industry is expected to double in value this decade, from $70 billion to $140 billion, according to Goldman Sachs Equity Research. The global music growth opportunity for professional streaming is estimated at $40 billion to $50 billion per year, with $20 billion in the United States alone.
U.S. consumers make more than 90 billion visits to businesses each year, according to MRC Data’s 2021 Background Music: The Untapped Promotional Avenue for Music report. During these visits, 79% of consumers actually notice the music being played and 73% take action to seek out the music they like, representing a huge untapped promotional opportunity for music. In 2020, Soundtrack Your Brand launched Soundtrack Unlimited, the world’s first on-demand music offering for professional streaming, with over 58 million tracks. Soundtrack Unlimited successfully marketed at $50 per month, per subscription, unlocking 5-10 times more value than mainstream streaming services, proving that there are tangible opportunities to increase the value and price of streaming commercial music.
“Movie theaters don’t use Netflix to show movies, sports bars don’t use private accounts to show high priced fights and games, why should the music industry be any different? Why Shouldn’t music creators and rightsholders be fairly compensated when their music is released in commercial environments?” said Ola Sars, Founder, CEO and President of Soundtrack Your Brand.
Soundtrack Your Brand provides a streamlined, easy-to-use and compliant on-demand service for businesses, most of which already stream music in their establishments and understand the value of music. The business music marketplace provides a new source of incremental revenue for labels, publishers, artists and songwriters. For more information, visit www.soundtrackyourbrand.com.
About Soundtrack Your Brand
Soundtrack Your Brand helps thousands of businesses strengthen customer relationships through music. By combining expert curation and world-class technology, Soundtrack Your Brand provides a beautiful, all-in-one solution for streaming music in stores, hotels, restaurants, and other commercial environments. Founded in 2013 by Ola Sars in 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. More information at www.soundtrackyourbrand.com.
Patricia Rogers, The Tag Experience, [email protected]
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: OTHER RETAIL MUSIC TECHNOLOGY OTHER CONSUMER LICENSING (ENTERTAINMENT) GENERAL ENTERTAINMENT ENTERTAINMENT OTHER TECHNOLOGY RETAIL INTERNET CONSUMER
SOURCE: your own brand soundtrack
Copyright BusinessWire 2022.
PUBLISHED: 01/27/2022 06:00 / DISK: 01/27/2022 06:02
Copyright BusinessWire 2022.