Jukebox maker TouchTunes has merged with PlayNetwork, a global provider of music and branded entertainment content (primarily in-store entertainment for retail, restaurant and hospitality locations). The companies hope to use their complementary product lines to create better businesses and experiences for their customers.
“This agreement represents a major step forward in our global growth plan,” said Ross Honey, TouchTunes’ president and CEO. “PlayNetwork’s global reach, strong customer relationships, and approach to creating engaging music and media experiences are a perfect complement to TouchTunes, and will help us expand into new markets and offer new opportunities to our operator partners.”
Craig Hubbell, CEO of PlayNetwork said, “This helps us become become a global market leader for music and media services. Together we have the financial strength and expertise to better serve our customers with the expanded products and service capabilities they need to increase consumer engagement, in venue and beyond.”
In other news, TouchTunes also announced that it had acquired certain assets of El Media Group, a New York based background music and services provider.