As we begin a new year, it's time to look ahead at what 2016's music industry trends will be, with an expected continuation of the streaming wars, the blending of tech with the live music experience, and other predictions.
Information is changing the music industry; not only in the ways we consume and discover music, but as well in the ways companies are arming themselves for competition.
Streaming services see gold in the figures that fuel recommendation algorithms, and now content companies, driven too by the alluring growth of digital tech, are proudly announcing their latest partnerships with leading software-as-a-service companies and the terabytes of social data multiplying on their servers.
The future of music discovery—and potentially, of artist development—is now in the numbers.
The EMI Million Interview Dataset is the richest and largest music dataset ever; a massive, unique, rich, high-quality dataset that contains interests, attitudes, behaviours, familiarity, and appreciation of music as expressed by music fans around the world.
Why EMI releases this dataset now?
EMI is now embarking on a program of sharing some of the key data from those interviews to enable the wider industry to benefit from it and in the hope that many eyes will bring new insights from this data
With newcomer Apple Music already taking a sizable bite out of the market, competing services Spotify and Pandora hope to differentiate themselves by amping up ways to help artists connect with their fans.
40 million songs, albums and artists available - how nice? Streaming allows you to get a grasp at the biggest music collections in the world. The only thing is that you would need centuries to listen to all of it. Getting access doesn’t mean knowing what to do with it. How are we making music discovery more & more efficient at Deezer?
After landing a $200 million credit line and acquiring music data platform The Echo Nest, Spotify is widely expected to announce its IPO in coming months. Spotify is a unique spin on the same fundamental formula that generated value for Netflix, Amazon, Groupon, Pandora and LinkedIn before it.
So what exactly is this magic formula? It’s simple, really: When a company uses data to personalize its inventory, it creates a better UX. This UX in turn draws in millions of users and investment dollars.
What’s the lesson startups can derive here?
Value today is less about big sales and more about how many users a company continually engages using data.
Musicmetric has announced a deal with Spotify that will allow its users to benchmark Spotify data alongside social media trends and file-sharing information.
Musicmetric Pro, Musicmetric’s premium analytics tool, will integrate Spotify data allowing it to be analysed alongside other data streams. MusicMetric says this could show how streaming data can be used by the music industry to better leverage revenues.
Anyone with Spotify Analytics can now access all their data through Musicmetric, meaning streaming data can be laid on top of social media trends, BitTorrent consumption and sentiment for over 700,000 artists captured by Musicmetric.
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