It’s turning into quite a week for Musicmetric. Fresh from landing $4.7 million in funding yesterday — via parent firm Semetric — the Web analytics platform for the music industry has inked a deal to introduce data from Spotify, the music streaming service with 20 million users.
The coming together will see analytics and data from Spotify available alongside Musicmetric’s system, which searches the Web to serve up mentions and sentiment for its 600,000 artists and over 10 million tracks. Musicmetric co-founder Marie-Alicia Chang says the combination is “essential”, since it enhances the value of user information from Spotify by adding complementary analysis from the wider Web.
Musicmetric Pro users who has subscribe to the Spotify Analytics service will be able to blend the two data sets together. That can help visualize trends between marketing efforts, social media buzz, file sharing sites and Spotify user behavior; providing more intelligence to show what activities are working, how they are performing and why. That can help fine tune promotion efforts to drive greater awareness, and not to mention revenue, for labels and artists.
This is just the first step in the duo’s partnership and today’s announcement explains that Musicmetric Pro users will also soon be able to compare Spotify artist data against global or market Spotify data.
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“The sheer volume of [Spotify] users mean that access to the data will be of immense value to Musicmetric’s customers,” the Musicmetric announcement says.
Will Hope, Spotify’s label relations director adds: “Spotify is growing quickly…our listener data is invaluable to the music industry. We are confident that by allowing labels and managers to clearly see the links between streaming, sales and online interaction, that we can work even more closely with rights holders to drive more listeners and increase revenues for artists on the service.”
Musicmetric is backed by Imperial Innovations Group and Pentech Ventures. The company has offices in London and Los Angeles and has a similar analytics sharing agreement with Last.Fm.
Headline image via Mario Spann
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