Soundtrack Inks SESAC Deal

Soundtrack, a B2B music streaming service, has signed a licensing deal with US performing rights organization SESAC, as reported by Music Business Worldwide. This deal complements its existing licensing deals with ASCAP, BMI, and Global Music Rights (GMR).

The Stockholm-based company announced the deal on November 5, alongside a study that found 79% of US businesses that play music on their premises do so using consumer streaming services. Soundtrack estimates that the US music industry is missing out on $1.4 billion in revenue every year due to unlicensed music use in businesses.

The independent study surveyed 1,525 decision-makers representing almost 15,000 US business locations. It found that 97% of US businesses play music, and that 79% use consumer streaming services to do so. Soundtrack notes that these services are licensed for personal, non-commercial use only.

The SESAC deal marks the final step in Soundtrack's ambition to simplify music-for-business compliance in the US. Soundtrack says it is now the first consumer-style music-for-business service to provide a fully licensed solution for US businesses. This matters to listeners because it means that their favorite artists, such as Bob Dylan and Adele, will receive fair compensation for their music being played in public spaces.