Big Music goes Big Data
Universal Music is allying with Havas to launch the Global Music Data Alliance, a Big Data partnership aimed at mining data generated by the record company and it artist roster via music, ticket and merchandising sales, streaming, social media and airplay. The information will be analysed by data scientists at Havas to pull out new marketing and advertising opportunities for brands.
Universal and Havas says GMDA will enable them to determine new audience patterns and segments for application across thousands of artists' online and mobile properties. They believe musicians will be able to monetise their fan bases more effectively by understanding the various audience characteristics.
“Advertisers will be better able to identify which genres and which specific artists appeal to their consumer bases as well as the music-related opportunities that will attract those consumers,” say the two companies. “This will make the advertiser's decision to invest in music-related marketing much more accountable and will allow labels and artists the opportunity to create a broader relationship and more integrated partnerships with brands than previously seen.”