Recently announced is a partnership between Universal Music and Media Group Havas, who have struck a global pact to identify new revenue streams from the way people are consuming music, across a range of platforms.
Data is no longer something to be left to the men in suits. As an artist in 2015 you need to arm yourself with all the stats and analysis you can. And here’s why..
Listening is no longer just about purchased music. Many subscription services such as Pandora and Spotify include advertising supported options that provide free listening to consumers.
Many artists are now also reliant on brands’ sponsorship money, with these brands also playing a big part in the live music industry. Sponsorships and advertising accounted for $158.8 million of Live Nation’s $194 million of operating income in the first nine months of 2014.
Brands’ marketing and advertising muscle help labels with the costly business of developing new artists and creating global awareness for releases by already developed artists.
So the UMG & Havas’ partnership results in a Global Music Data Alliance. With Universal being the world’s largest music company, holding an incredible amount of data relating to their artists, and Havas Media being the content and data arm of their worldwide conglomerate – what we can expect from the alliance is a new way to analyse audience trends, behavioural insights and a more efficient and cost-effective way of monetising content and connecting artists with brands.
As an artist on Spinnup gathering data will be become all the more important to you. Which is why getting to know your own stats in your Spinnup Dashboard will greater enable you in understanding your audience and where your revenue is coming from. Make sure you understand how important this data is to you as an artist in 2015. Login today and take a look around. Any questions you can always reach us by clicking here.