Spotify-backed 'Soundtrack Your Brand' launches in U.S., signs McDonald's
STOCKHOLM (Reuters) - Soundtrack Your Brand, a music streaming service for businesses backed by Spotify, launched in the United States on Thursday and announced a global deal with fast food chain McDonald's.
The company was co-founded with Spotify in 2013 in Sweden, where it provides tailor-made music playlists for customers such as Nike and Starbucks.
It targets small businesses and large chains with the pitch that music can keep customers in-store longer and boost sales.
The deal with McDonald's allows Soundtrack Your Brand to sign up its franchisees worldwide and provide them with playlists on pre-approved terms. In Sweden, over 60 percent of McDonald's restaurants are using the service.
The Swedish tech start-up, which is also backed by investors TeliaSonera, Wellington Partners, Northzone and Creandum, has received over $20 million in funding to date.
(Reporting by Mia Shanley; Editing by Mark Potter)
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