From Music Business Worldwide · · 1m 30s
Soundtrack Signs SESAC Deal to Fix Music Compliance
B2B music streamer Soundtrack partners with SESAC to solve $1.4B annual unlicensed music revenue loss in US businesses.
In brief
B2B music streamer Soundtrack partners with SESAC to solve $1.4B annual unlicensed music revenue loss in US businesses. Soundtrack's SESAC deal aims to simplify music licensing for US businesses, potentially unlocking $1.4 billion in annual revenue for the music industry. Originally reported by Music Business…
Soundtrack and SESAC sign licensing deal
B2B music streaming service Soundtrack has signed a licensing deal with US performing rights organization SESAC.
Soundtrack covers all four major US PROs
The Stockholm-based company now has licensing deals with ASCAP, BMI, Global Music Rights, and SESAC.
79% of US businesses use consumer streaming services
Soundtrack's study found 79% of US businesses that play music use consumer streaming services for background music.
Unlicensed music costs industry $1.4 billion yearly
Soundtrack estimates the US music industry loses $1.4 billion annually due to unlicensed music use in businesses.
19% of businesses fully compliant with music licensing
Only 19% of US businesses that play music are fully compliant with commercial music requirements.
Soundtrack aims to simplify compliance
Soundtrack says its SESAC deal marks the final step to simplify music-for-business compliance in the US.
Soundtrack becomes first licensed B2B music service
Soundtrack claims to be the first consumer-style music-for-business service to provide fully licensed solutions for US businesses.
SESAC licenses 1.5 million songs
SESAC licenses public performance of more than 1.5 million songs for over 15,000 songwriters, composers, and publishers.
The essence
Soundtrack's SESAC deal aims to simplify music licensing for US businesses, potentially unlocking $1.4 billion in annual revenue for the music industry.
