Spotify has announced a new information-rich destination, Spotify Artists. The digital music service says the new offering is dedicated to not only helping artists better understand how they are compensated, but to provide them with contextual data around their music and fans.
To that end, the streaming music giant has teamed up with leading music data and analytics company Next Big Sound. Now, for the first time, artists and managers will have free and direct access to data pertaining to their listening activity on Spotify, information which is available exclusively through the Next Big Sound platform.
But it’s not just listening activity, graphed over time, that Next Big Sound is offering. The real value comes from the contextual insight of crossing listening patterns with the other sources of data Next Big Sound has to offer, which includes analytics from Facebook, Twitter, Wikipedia traffic, and a whole slew of other data streams.
“There’s more data out there than ever before than can be used to make data-driven decisions in the music industry,” explains Alex White, CEO of Next Big Sound. “We’ve been investing million of dollars over the last several years in our product and will continue to do so as streams of data continue to emerge.”
Heading into 2014 the music industry, from individual artists to the biggest labels in the world, have access to their own data and information. From Facebook and YouTube analytics to data from iTunes sales and eCommerce channels, the pieces are in place and integrated into one product on a major scale to intelligently drive the industry.
For its first couple of years, Next Big Sound was focused on bringing this data together in a sophisticated, complex product. Basically building the Bloomburg Terminal for the Music industry. Now, at the intersection of where music consumption is moving from compact discs to online streaming services, Next Big Sound remains poised to deliver incisive insights to those who need it.
“In any industry, information is power” explains White. “This transparency and leveling of information brings a level of fairness to the creators, artists and rights owners who haven’t been able to take full advantage of their numbers to leverage into business deals.”
Yesterday, Next Big Sound saw its highest day of new sign ups ever as the team works to streamline the product for its users. “We have a full team in New York working to taking these data streams and boiling them down and simplifying it into actionable insights.”
If you’re an artist or manager, head over to www.nextbigsound.com to register for access.