Touch Tunes
- Sector Consumer & Private Label
- Year invested 2011
- Location North America
- Status Realised
TouchTunes is the largest in-venue interactive music and entertainment platform, featured in over 71,000 bars and restaurants across North America and Europe.
Visit touchtunes.com
Overview
We invested in TouchTunes in 2011 to support the Company’s growth strategy and international expansion, as well as help bolster its product and service offering. During our investment period TouchTunes increased its network of digital jukeboxes by nearly 50% and developed several ancillary revenue streams. This impressive growth was achieved organically in North America and through the entry into the UK market.
How we added value
- Increased network of digital jukeboxes by nearly 50%
- Acquisition of Soundnet in 2014, marking TouchTunes’ entry into the UK market
- Network grew from 60,000 to 71,000 during our investment
We have enjoyed tremendous success together over the last four years. Our association with 3i has helped propel TouchTunes into the global arena and I am thankful for their network and support, which has played a big role in our expansion efforts.
Regulatory information
This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities in this release. For data relating to other assets involving a past recommendation by 3i Corporation please click here.