Getty Images announced Monday that it has launched Soundtrack, a new music licensing service.

The Seattle company has been trying to expand its services while maintaining its its photo-imaging business. New entrants entering the business are posing a threat. I wrote a story recently about how the company laid off 100 employees to accomplish its financial goals.

The music service, available at gettyimages.com/music, was developed by Getty's recent acquisition of Pump Audio. It has more than 20,000 original tracks by independent artists and bands for use in broadcast and film production, advertising and other media projects.

Jonathan Klein, CEO and co-founder of Getty Images said:

"Our customers represent a variety of industries and they want quick and easy access to digital media -- imagery, footage and music -- that can be used in a myriad of ways. When we acquired Pump Audio in June, we made a commitment to develop dynamic and nimble new music platforms and tools which meet the growing content needs of our customers. The launch of Soundtrack is just the beginning of that strategy."

If this is just the beginning of its strategy, I guess we can expect more announcements to come. Stay tuned.