How Big Data Will Change The Music Industry Forever Published on January 13, 2016 January 13, 2016 • 720 Likes • 40 Comments The music industry isn’t for the faint-hearted whether you want to break in as a musical artist or an entrepreneur. The music industry has needed a face-lift for a long time. by Maximilian Mattern on July 26, 2018 11:34 am. The music industry is preparing for the much needed changes as the big data solution is right in front of it. He is presently working as a Content Contributor at Tekslate.com. Many people won’t pay for music – this is accepted widely by the music industry. In turn, your digital business transformation will be accelerated and your competitive edge will be rock solid. The launch of Kobalt Music which was founded by Willard Ahdritz has led to much more transparent and data-driven approach to the music industry. The big data advances might bring a significant transformation taking the pressure off of consumers to fix the outdated revenue models of music industry. The risks taken over the years may in fact threaten a very precarious music industry whose recovery, while driven by streaming, is held together by data. There are already clear winners from the aggressive application of big data to clear cobwebs for businesses. We use cookies to ensure you get the best experience on our website. Big Data is a game changer in every industry be it music or healthcare or education. On the winning circle is Netflix, which saves $1 billion a year retaining customers by digging through its vast customer data.. Further along, various businesses will save $1 trillion through IoT by 2020 alone. Big data might transform that as it helps bring corporations and artists together more efficiently through high speed data analysis like Hadoop cluster. And it’s no surprise that even the music industry has become one its “victims”. Instead of bombarding people with ads, many publishers are aiming to create sponsorships with larger brands and encouraging users to follow their social media accounts for maximum outreach. Big Data will facilitate the process of booking tours, as data from streaming sites such as Spotify will indicate which countries and cities the artist is popular. Businesses with hypercomplex processes, multiple branches, … Most importantly, the utilization of big data catalog for streaming music may solve the problem regarding artist compensation. In this white paper, our friends over at Profisee discuss how Master Data Management (MDM) will put your organization on the fast track to automating processes and decisions while minimizing resource requirements, while simultaneously eliminating the risks associated with feeding AI and ML data that is not fully trusted. They need something more concrete, something which will help them understand the general public’s changing taste in music so that they can reap … With physical record sales at an all-time low, it is easy to get a scope of what sells through using data extracted from the main streaming sources such as Spotify. It’s clear to see why big data was inevitable. In the last decade, the music industry’s complete revenue model has transformed. It is going to require a major investment of time and resources. The music industry has become a big business which generates billions of dollars every year. Data is transforming the way the music industry operates. It seems about time that the same method would be applied to music. Notify me of follow-up comments by email. Contributed by: Ravindra Savaram. The artists can opt into data revenue sharing thus offering more control of the direction of their art. From this large collection of data, a gigantic “store” might be created over time. Big Data and music: Creating hit records with machine learning. This could solve many issues that music industry is facing today regarding music distribution. Big data is becoming an increasingly important component of the music industry as the digital world continues to grow in popularity with consumers. Over all, the big data may enhance the primary function of music – bringing people together. There’s absolutely nothing that is untouched by Big Data. We believe traditional A&R will never be fully replaced by AI, instead, it will serve as a vital tool to make their jobs easier and do what they always set out to do; help the unsigned artists who deserve it. Big data offers information about the motivation for listener – why do they listen to a particular artist? The ones that are already on board among these are Red Bull, Urban Outfitters and Nike. By using social media platforms and new ad technologies, the music industry may learn how to get a bigger digital advertising sector. Not long ago, there was a strong belief that the internet was killing the music industry. A subscription music service has been unveiled by YouTube recently. Let’s explore the possibilities big data currently offers the long-suffering music industry. With Big Data, Spotify playlists with over 10,000 followers are trawled (in excess of over 8,000 of them currently) to find the best artists. Sign up for the free insideBIGDATA newsletter. Student. With the rise of bedroom artists and those with the ability to produce their own music from home, many barriers into the music industry have been removed. This means companies could be keeping track of where the fans live, what their education or income levels are, and other bits of data too personal to share. Let us take a look at the possibilities that big data provides for the long-suffering music industry. And it’s no surprise that even the music industry has become one its “victims”. The concept isn’t new, email marketers have been using data to put products in front of the people for years. Talent AI is able to filter artists by the following criteria: What A&R now needs to see is momentum around artists on the way up; and not one who has already reached their maximum potential. Talent worth nurturing will exist online in many forms: from YouTube videos of people in their bedroom doing a vocal-only cover song by one of their favourite artists, to unsigned artists who have paid thousands for their material to be recorded in the hope of being discovered. This is useful for the industry to spot the trends rapidly and offer exact data about the unique musical dna of a particular sector of population. For years now, the industry has failed to keep up with the rapid pace of technological advancement. Songs are data after all. But now, the same tools can be used to help them get spotted in the first place. With these words, Steve Jobs introduced the world to the first iPod in 2001. Big data is having a number of impacts on the industry. In the last few years, the popularity of Instagram as a marketing tool has exploded. One of the major problems in the current world of music big data has been that although the streaming services could provide accurate info to labels and publishers, it … If you want to build a business in the music industry, in particular, then you better get on the big data bandwagon. Labels had always looked at which artists got the writers, DJs, and radio hosts talking, which seemed to pay off for the founder of Rough Trade, Geoff Travis – who previously expressed that generally he would be tipped off about the music which excited him. Big Data is hot. I’m the executive music producer of a music show/ asset that broadcasts to around 300 million people on the African Continent. Big Data & The Music Industry. Connect with Me. How Big Data and AI Has Changed the Music Industry. There is no feasible way of knowing through the number of streams an artist has had whether they can create two more successful albums – especially considering that younger listeners have a habit of jumping on transitional music trends. The combination of both technologies enables businesses with a physical presence to reap greater insights from the large volumes of data generated by a slew of IoT applications, sensors and devices. From this large collection of data, a gigantic “store” might be created over time. Of course, Social media can’t solely be relied on, as we saw with Theratin; the LA artist who faked a following to get a UK tour. Tags: Big Data, Music, Shazam, Spotify, Streaming. In May 2017 Sony Music CEO Rob Stringer commented: “All our business units must now leverage data and analytics in innovative ways to dig deeper than ever for new talent. He holds a Masters degree in Nanotechnology from VIT University. Big data is confirmed to have transformed the entire revenue model of the music industry. Theratin; the LA artist who faked a following to get a UK tour. How Big Data is being used in the music industry. There are two million artists on Spotify alone with less than 1% being in the top tier. It may not be long before the entire albums or even music videos are sponsored by corporations. A very thought provoking article…. The way we consume songs have evolved, with portable players and phones replacing compact discs (meanwhile, there’s been a resurgence in vinyl), and how artists record and release music has also evolved along with the industry. Combine that with the rate of commercial success, and it’s clear that industry innovation was well overdue. One of the most prominent ways Spotify uses the data generated by their customers is to help generate content that each user will consider in-line with their specific tastes. Big Data is also making waves in America, one start-up Sodatone was acquired by Warner Music Group, and TuneGO, a technology platform that connects artists with the music industry, also raised $7.7 million in series B funding in 2018. It also provides the music industry with better strategies for fan engagement. Big Data and Music. In this special guest feature, Abhishek Bishayee, Associate Vice President – Strategy and Solutions at Sutherland, believes that while AI-driven IoT is already making its mark, we are only at the start of this exciting union and realizing the potential extent of its impact. Case Study: Big Data in the Music Industry; Student. Big Data is clearly worth the investment, so much so that it has been dubbed as the new currency in the industry that is set to revolutionize the way talent is spotted. Therefore, historical streaming data may not be 100% reliant after all. With Big Data, Spotify playlists with over 10,000 followers are trawled (in excess of over 8,000 of them currently) to find the best artists. Many people won’t pay for music – this is accepted widely by the music industry. With the rapid digitization of our world, the music industry has moved to a new way of measuring success — data. Sign up for our newsletter and get the latest big data news and analysis. How Big Data Enabled Spotify To Change The Music Industry It is made possible by the relationships  between innovative brands and artists. Streaming numbers and social media data are already being utilized as a deciding factor to whether an artist gets signed or not. It's transforming it. Learn more about our privacy policy. Big data is a term that reflects the amount of information people generate – and it’s a lot. It’s not only streaming platforms which offer valuable data to A&R reps, social platforms such as Instagram also give a real snapshot of the band which they will be working with. For a long time, the music industry is in need of a facelift and the advent of big data seems to fulfill this. The brands are getting to promote awareness and artists are getting to share their works via tastefully-chosen advertising. Big Data will give A&R departments information for potential marketing strategies which has never been at their disposal before. TuneCore is proud to be the preferred distributor for A&R Factory.]. 1000 Songs in your pocket. We’ve investigated to try and understand some of the previous problems within the music industry and how Kobalt Music has given musicians an effective solution to accessing their profits. Ravindra was born and raised in Hyderabad, popularly known as the ‘City of Pearls’. His previous professional experience includes Programmer Analyst at Cognizant Technology Solutions. But is Big Data is at all useful in the music industry? Official Professional Achievement badge awarded by the Department of Management Information Systems. Luckily, the advent of big data might provide musicians with a more successful revenue model. This clearly meant that consumers turned … Big data analysis is changing the path businesses follow to connect with their target demographics and the music industry will likely follow the same pattern very soon. The second was moving away from the idea that musicians should be scouted and recognized by the gut instinct of those in charge of giving unsigned artists a platform and essential exposure. The ability to obtain this information was the first step for A&R departments. Highest CTR….even higher than Facebook views of how they use big data can enhance marketing monetizing. 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