Bengaluru: The good old method of storing music files is in a decaying mode. Now, we can just use mobile apps to stream music and videos. Tuned Global, a B2B white level digital music provider that enables music as a tool of marketing, has secured AU$5.1 Million investment from a VC firm, Exto Partners. Through this funding, the Melbourne-based company is rearing up to expand its wings internationally and support the product development of new series.
Established in 2010, Tuned Global facilitates companies to connect with customers through three customizable music services – a music streaming app, music toolbox and music download platform. This company has partnered with global music brands such as Universal, Warner Music Group and Sony BMG availing access to 16 million songs and its content partners include Master Card, McDonald’s, JB Hi-Fi and Westfield. This start-up has already achieved 500 million songs streaming and 100 million downloads, and its operations are spread across six countries in the Asia Pacific region. “Tuned Global connects directly with audiences to offer the music that everyone wants, while providing these brands with deep insights into their customers,” explains Con Raso, Managing Director, Tuned Global.
In addition to the investment, Will Deane, Managing Director, Exto Partners will join Tune Global’s board as a part of the agreement. Yet, this is not the first-time investment from Exto. “We initially invested in Tuned Global 18 months ago and have been thrilled with its growth. We have no doubt Tuned Global’s international expansion, significant customer growth and high rate of end user adoption will make it one of Australia’s real start-up success stories,” added Deane.
Marketing through music is no new strategy, but when it is done through individual’s very personal devices like smartphones, it leaves a long lasting impact. A recent study by 2014 Nielson Music Report suggests 67 percent of music consumers listen online with 164 billion streams in the year. From a marketing perspective, Spotify Impact Study found that 61 percent of music lovers likely recommend the brand as they develop a strong attachment.