Concord Music has made a minority investment in digital marketing technology platform found.ee.
Created by CEO/founder Jason Hobbs in 2013, found.ee helps artists and labels collect fan data based on consumer activity, such as clicking on a “buy” link or watching a video. Found.ee then feeds that information into an ad engine that enables targeted ads on ad networks, as well as audio ads on leading streaming platforms, including Spotify (Pandora and iHeart Radio are coming soon).
One of found.ee’s first activations was with St. Vincent’s self-titled 2014 album on Loma Vista Recordings, a few months before Loma Vista founder Tom Whalley (now Concord Music’s chief label executive) moved his imprint to Concord. The two companies have worked on a number of other projects since then including aggressively joining forces in 2017. “Last year [Concord] asked that we help get all of their labels setup on found.ee for all of their releases, so all of their releases now use found.ee at some point,” Hobbs tells Billboard, including Esperanza’s Spalding’s limited edition album, Exposure, the entire recording of which was chronicled live using Facebook Live.
“Her label and management team used found.ee before the start of the live recording to capture audiences comprised of interested fans,” Hobbs continues. “Before the live recording even began, they used found.ee to build re-marketing audiences from social media, web, video, and etc., so that by the launch time, we were able to call enough of those qualified fans to tune into the live broadcast using re-targeting that the album sold out halfway through the recording process…We were able to turn off the ads halfway through and not spend the full budget.”
Concord GM Jim Selby lauds found.ee’s unique data collection platform, adding in a statement, “We look forward to working with the found.ee team. who understands the ever-changing online advertising and consumer data challenges and how to overcome them in the digital marketing space.”
Concord’s investment will allow found.ee to expand its data capacities by adding features. “We’re in the process now of building those features out,” Hobbs says, “but the most exciting to me is probably the user-friendly DMP (data management platform), which is entirely built to support the music industry specifically.”
Concord declined to comment on how much it invested in found.ee and if it planned to increase its ownership stake.