New business model makes ‘Playdium the box for every venue’
The new 15% business model introduced by TouchTunes in support of its Playdium smart jukebox, is being heralded as the perfect way to refresh estates and to maximise income in the traditionally slower months for in venue, pay to play music.
Toby Hoyte, Head of Marketing at Soundnet confirmed:
“The 15% business model means that TouchTunes and jukebox operators are sharing in the upturns in revenue as well as the months when income is less robust, such as the summer. What this means in practical terms is that operators can place their Playdium jukeboxes in any site at any time of the year, making the Playdium the box for every venue.”
“Everyone talks about the importance of investing in product but that investment has to come from somewhere. The 15% business model provides the catalyst for continued investment, which is the lifeblood of any industry. The feedback we are receiving from the market is that it’s a win/win business opportunity for all parties.”
Not only does the 15% help operators match costs better with income but it’s what drives TouchTunes investment in product improvement. Investing in R&D and constantly looking for ways to update the experience of using the jukebox are part of the culture at TouchTunes, as the organisation’s Chairman and Chief Executive Officer, Charles Goldstuck confirmed during his visit to London for the launch of the Playdium. Speaking to UK operators he explained:
“Innovation and creativity are among the core values at TouchTunes and continuously improving our products and services is a major focus for the company.
“Whether it’s large initiatives such as completely revamping our mobile app to ensure that it remains at the forefront of app design, introducing new operating systems to take advantage of cloud based coverage and other efficiency opportunities or ongoing changes to improve the user experience, such as making the tiles in the carousel on the home page rotate periodically to help attract attention to the jukebox. As a company we are very focused on identifying and delivering an ongoing programme of R&D. It is part of our DNA. Regarding the scope of our R&D investment levels, each year we typically spend 20% of our resources on developments.”