TouchTunes and PlayNetwork Complete Merger
Combined company gains global scale and resources to accelerate innovation for music and branded entertainment media experiences.
REDMOND, WASHINGTON--(Business Wire / Korea Newswire) May 26, 2017 -- TouchTunes and PlayNetwork today announced the completion of their previously disclosed merger to create the global market leader for music and branded entertainment media experiences.
The merger joins two industry leaders and their complementary expertise to create a new company with the global scale and resources to expand licensed music libraries, accelerate innovation, and impact customer success. Together the company will redefine how businesses use music and original content, AV systems, technology and performance insights to increase consumer engagement in-venue, on-device and beyond. From small business to enterprise and luxury segments, the combined company serves 450+ brands, reaching 100M+ consumers every day across 185,000+ locations in 125+ countries.
“Today is a defining moment for our company, and hugely transformative for our partners and customers that prioritize customer experience to drive revenue,” said Ross Honey, President and CEO of TouchTunes. “With the expansion of our products and capabilities, we will create immediate growth opportunities for our 2,500+ operator network to better serve SMB, QSR and franchise customers with the most robust portfolio of solutions for music and media.”
Craig Hubbell, President and CEO of PlayNetwork commented, “This deal creates a powerful business and signifies a major step forward in our industry. Together we will accelerate our efforts to create the most comprehensive technology platform, music library, premium services and advanced capabilities our customers need most. This next wave of innovation will help businesses adapt to change and ultimately transform the way people seamlessly discover, access, and share branded media experiences.”
The combined company has headquarters in New York City and Seattle, with offices in Chicago, Columbus, Hong Kong, London, Los Angeles, Montreal, Santiago and Vancouver.
TouchTunes is the largest in-venue interactive music and entertainment platform, featured in more than 65,000 bars and restaurants across North America and 75,000 globally. TouchTunes‘ platform provides location-based digital solutions that encourage social interactions through shared experiences. Music is the core of TouchTunes’ experience, with millions of songs played daily across the network and a mobile app that lets users find nearby jukebox locations, create playlists, and control the music in-venue directly from their phone. Additional services include an integrated photo booth, the first fully-licensed commercial karaoke system, and social TV messaging. For more information visit www.touchtunes.com.
PlayNetwork helps brands engage consumers through entertainment media, in-store and beyond. These experiences add emotion to omni-channel touch points that strengthen the connection with customers and influence lifetime value. Clients work with PlayNetwork for creative strategy development, branded music curation and global licensing, original video production, messaging, audio/visual systems engineering and installation, technology and software development, and more. They partner with 425+ brands across 110,000+ locations in 125+ countries, reaching more than 100 million people every day. For more information visit www.playnetwork.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170525005907/en/
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VP Corporate Marketing
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