Music tech startup Pacemaker acquired by Tuned Global
Tuned Global, a B2B music tech solutions provider, has acquired Swedish startup Pacemaker for an undisclosed sum. The move was taken to incorporate Pacemaker’s AI-driven DJ programs into its own platform.
Pacemaker’s proprietary AI DJ can mix tracks and other audios in real time for a “deeply engaging listener experience.” This app has received numerous accolades, including the Apple Editor’s Choice.
The startup also offers an AI engine that can aid music listeners in finding “great tracks” among numerous songs in the catalogue. Pacemaker claims that its tools boost user retention and session lengths exponentially.
Con Raso, Tuned Global founder and managing director, explained that Pacemaker’s tech could help his company’s clients to boost engagement for their end users. Raso added that the acquisition of Pacemaker had extended Tuned Global’s B2B streaming tech dominance.
Pacemaker CEO Jonas Norberg expressed his confidence that Pacemaker’s full-stack, mobile-focused tech would enhance the music experience of Tuned Global’s customer base. Norberg said the wellness industry was an “obvious fit,” but other sectors could benefit from Pacemaker’s tech too.
Pacemaker’s plans to pivot
The news came about nine months after Pacemaker announced that it was looking to sell the business as it planned to develop a radio service that would enable users to establish their own music shows.
The decision to sell its streaming service and technology was linked to the difficulty in growing its user base due to the high subscription fee.
In February 2014, Pacemaker teamed up with streaming service Spotify to launch on iPad. However, Spotify decided to suspend third-party DJ apps’ access to music via its app in May 2020.
It prompted Pacemaker to license music directly into its platform, causing the company to pass down the costs to users in the form of a monthly fee.
“Now anyone that wants to use Pacemaker can do it, but it’s an expensive $17 per month service. Which creators are prepared to pay for, but not listeners, and that is detrimental to the acquisition funnel,” Norberg told Music Ally at that time.
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