Musicmetric Pro can now give music execs and marketers a better picture of the best site, time and country in which to launch a promotion or buy advertising by using tools that compare Spotify and iTunes sales data with BitTorrent and social media behaviour patterns.
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All of the data is pulled together in one dashboard making it easy to access and drill down further for a more detailed view and can ultimately include social media activity, news coverage, online streaming and sales figures.
“The tools enhance the music industry’s ability to measure campaign effectiveness using real-time evidence. The intention is to allow users to support traditional aesthetic and intuitive approaches to music marketing with strong data and a vivid, easy to use dashboard,” Semetric said.
By studying the music and video tracks played, brands and marketers get a “dynamic analysis” of an artist’s performance; the update has also added the ability to view and compare data from YouTube, SoundCloud, Spotify and VEVO against other individual artists, which should make it simpler to compare campaigns against rivals’, or previous, releases.
The update also ushers in metrics such as Wikipedia page views, simpler connection for Facebook Insights and Google Analytics, and the option to import Tunecore sales data.
The overhaul for Pro paying customers was facilitated by a cash boost of $4.7m (around £3m) in January, which has also been used to reshuffle the board in the expactation of growing its European operations.
Among the changes are Jeremy Silver stepping up to the helm of the senior team as executive chairman alongside chief executive Gregory Mead. Focusing specifically on that European expansion is Jurgen Van Leeuwen, senior vice president for sales & global marketing, Alex Crickmay, sales & business development director and Eli Shapiro, vice president of engineering.
“The entire industry is on a learning curve, finding new ways to use its valuable data in different parts of the business. We’re focused on making Musicmetric Pro the most robust and dependable means by which executives form their decisions. We are increasing our user-base daily across the U.S. and Europe. Bolstering our senior team with such experienced executives is helping us underpin our success alongside continued, iterative product development, all of which lays the ground for our future entry into other entertainment verticals,” Silver said.
With cash injections, new features and an executive reshuffle, Musicmetric is clearly lining itself to have the best shot for growth that it can. By trying to keep up with the wealth of new digital service providers on offer, the service should be able to offer a more complete set of data and therefore be more appealing to advertisers. However, as in many industries, more and more companies are looking for ways to leverage massive data sets in the best way possible for their business and customers and it’s no different here – Next Big Sound and BigChampagne are just two businesses with similar offerings in the same area.
Headline image via Mario Spann