Tuned Global acquires AI-powered music technology and DJ app company Pacemaker

Tuned Global has acquired Swedish music technology company Pacemaker, including its AI-powered DJ applications, marking the B2B music service provider’s first acquisition.

The company also calls the purchase “a turning point” in its growth as it expands into new markets and “innovates” its music and media services to its customers worldwide.

Tuned Global, backed by Australian venture capital firms Exto Partners and Artesian, acquired Pacemaker, its former client, for an undisclosed sum.

According to the announcement, Pacemaker, which was “founded by rocket scientists with a passion for data,” holds multiple patents for its proprietary AI DJ technology and “rights owner-friendly” DJ mix solutions.

Pacemaker’s AI DJ can weave tracks and other audio together in real time, in what the companies call a “deeply immersive listening experience.” The company also offers a “match engine” that can help curators “instantly unearth great tracks from a massive catalog.”

These AI-powered personalization and curation capabilities, according to Pacemaker, “significantly increase user retention rates and session durations.”

The company’s DJ interface and technology will be added to Tuned Global’s line of streaming products and services.

The deal comes about nine months after Pacemaker revealed (as reported at the time by music ally) that it was looking to sell the company as it wanted to start a radio service that would allow people to broadcast their own music radio shows.

Tuned Global said it worked with Pacemaker when the latter sought direct licensing with rightsholders and integrated with Tuned Global’s streaming APIs and content delivery technology.

Pacemaker CEO Jonas Norbergin May 2020, said in a blog entry that Spotify’s decision to remove its API for DJ apps “will affect Pacemaker, but we’re working on bringing music directly into the app via our own licenses to make the Pacemaker experience better than ever.”

Pacemaker claims to be the first DJ app to partner with Spotify when they launched Pacemaker for iPad in February 2014. But Spotify’s decision to suspend third-party DJ applications’ access to music through the streaming app prompted Pacemaker to license music directly into the platform and charge users with a monthly fee.

“When Spotify dropped the DJ API, Pacemaker switched to a directly licensed catalog. This solved the biggest problem, the need for a Spotify Premium subscription to access music on Pacemaker,” Norberg said Musical ally in May 2022.

“Now anyone who wants to use Pacemaker can do so, but it costs $17 a month. creators are willing to pay for but listeners are not, and that hurts the acquisition funnel.”

At the time, Pacemaker was reportedly generating $64,000 in monthly recurring revenue.

“Thanks to Pacemaker, Tuned Global is expanding its dominance in B2B streaming technology by now offering enhanced AI tools that will engage and delight users as part of our white label music apps.”

With Raso, Tuned Global

“Our ultimate goal is to help our clients create more engagement with their end users,” said the Founder and CEO of Tuned Global Con Raso.

“Thanks to Pacemaker, Tuned Global is expanding its B2B streaming technology dominance by now offering enhanced AI tools that engage users as part of our white label music apps as well as a standalone product for companies not yet part of us and will inspire customers.”

“Our AI DJ is so good, it can enhance the experience of any playlist by creating seamless, great-sounding, and well-timed transitions between songs and audio. ”

Jonas Norberg, pacemaker

“We believe that with Tuned Global, Pacemaker’s full-stack, mobile-first technology will reach a broader audience and we will be able to enhance the music experience for Tuned Global’s customers. One obvious suitability is in the wellness industry, but we think it’s much broader,” Norberg said.

The companys AI DJ app has won numerous awards, including the Apple Design Award and Apple Editor’s Choice.

“Our AI DJ is so good, it can enhance the experience of any playlist by creating seamless, great-sounding, and well-timed transitions between songs and audio. ”

Musical ally reported last year that Pacemaker’s sale includes its streaming service, which has more than 18 million titles, as well as its technology, which Pacemaker reportedly spent $15 million to develop.

“We are very excited to not only grow Tuned Global organically as we have always done, but to now do so through a perfectly timed acquisition,” said Raso.

“Pacemaker has a team and technology that aligns with our core values ​​and what we want to achieve for our customers and their end users.”

Tuned Global has actively partnered with a number of sectors outside of the music industry in recent years. It operates dedicated streaming platforms and provides B2B licensed digital music solutions for companies and brands such as UFC (for its UFC Ultimate Sounds app), Line Music, Warner Music (on a custom Ed Sheeran app), universal musicSony Music, True Digital Group, Pizza Hut, GMM Grammy, FanLabel, and Psycle, as well as other fitness, gaming, media, telecom, and medical partners.

The most recent partnerships were with yoga and fitness giant Lululemon, medtech company, about a week ago MediMusic And New Life Health in December and the music service provider Rehegoo Music Group in July.

music business worldwide

https://www.musicbusinessworldwide.com/tuned-global-acquires-ai-powered-music-tech-and-dj-app-company-pacemaker12/ Tuned Global acquires AI-powered music technology and DJ app company Pacemaker

Russell Falcon

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