Throughout the rise of the digital economy, the world’s biggest music labels have survived wave after wave of dizzying disruption. Thank you for sharing such information with us. 1. Annually an industry market report, including analysis, is published online free for members. While music licensing is the most profitable music industry sector, live music has developed into the largest music sector. The song is probably one of the most complex conglomerates due to its high number of variables. As you can see, data science has greatly affected the music industry. This is the definitive source of revenue data for the recorded music industry in the United States. The unsurpassed reach of the internet and the emergence of data technologies have transformed virtually every aspect of the music industry – from music creation and recording to distribution and monetization. According to the IFPI Global Music Report of 2019, record companies are investing more than one-third of their global revenues ($5.8 billion) in A&R and marketing each year. In this course, students examine real world examples of how analytics significantly improve management decisions, firm strategies, and artist success. Of the 12% of songwriters who are women, only 26% have worked more than once in the last six years. While big labels try to get to the artists with the best growth stats, independent labels will focus on getting the right artists that match their brand and sonic identity. Until we have access to a more advanced AI, humans will have a definitive advantage over machines and the field of A&R is likely to involve a combination of data-driven decision making and talent-driven scouting. Considering the fact that AI will be even more prominent in the future, it will be fundamental for artists to have an empathetic and trustworthy human being that they can relate to. Big data is confirmed to have transformed the entire revenue model of the music industry. The data team will be in charge of the scouting process, and it will probably render obsolete the entry-level role of the traditional A&R scout in the record label. 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. The average ticket price in 2012 was $85.93, or $20 more than it was just three years before. For instance: through setting benchmarks and milestones that are unique to the music industry, within specific genres, or tailored to a particular label or artist. The Data Science for Music Challenge, through the Michigan Institute for Data Science, aims to transform the music industry What A&Rs look for in an artist, according to Ina Rasinger, is consistency: I think it’s really important that new artists react in some kind of way on all platforms. Each year new platforms and mediums skyrocket to prominence, minting household names and reshaping the way audiences connect with artists (see: Tik Tok and Lil Nas X).Simultaneously, new technologies put creative tools into the hands of people who previously couldn’t access them. The use of data and automation has certainly helped ease this process, and labels are investing many resources in this field as a result. How Many Spotify Streams Are Necessary To Live Above The Poverty Line? The Evolution of the Music Industry - Where We Go From Here. Leveraging Gracenote’s advanced machine learning technology combined with the industry’s finest editorial team, Gracenote descriptor data for Genre, Origin, Era, Artist Type, as well as Sonic Mood, Tempo and now Style is the secret sauce behind the hottest playlists. A&R has changed since the dawn of the internet: Gone are the days when an A&R scout had to step inside a dark and smelly pub in South London and be the first to find the new Ed Sheeran. In theory, a machine could evaluate the potential for a song to be a hit. Wow nice articl, it helps me a lot and your writing style is so unique as compared to other blogger that makes you unique also. Some estimate that today, humans generate more information … While the primary motivation behind using data science has been to reap as much profit as possible, there is no denying that the use of data science in the music industry has evolved the industry more than anyone could have imagined. Some saw the industry’s navel-gazing as a distraction from the fierce urgency of the protests around Floyd’s death. Striking the right note - the importance of data management in the digital music industry . Paul Samuels, Vice President of A&R at Atlantic Records UK, clearly remembers how hard it was to research what records “the cool kids were listening to”: I am old enough to remember record shops and finding out what records were selling. and written by Music Ally, an afternoon of presentations and panel discussion on the current state of music analytics / data and their future was held at the BPI’s office in London yesterday (9 July). The Nashville Briefing presents a live industry panel discussion on data in the music industry. The job of an A&R scout is extraordinarily analytical and requires having a great understanding of the musical environment. Personally, when I look at data, I just check if certain things are happening on every platform or if it’s solely on one. With such an impressive number of records, it is impossible to use only a “gut-feeling” approach. Even if we find individual elements that can technically be assessed by AI, the difficulty is assessing an artist holistically and subjectively. With such a significant share of recording company budgets invested into artists, their main objective is to minimize revenue loss, and data can help them make the right bets. Using the words of Jerry Zhang,  Co-Founder of Sodatone, major labels “are looking for the 10 artists in a million that have abnormally good performances on different platforms.”. They could be doing something completely different from other musicians, and, most of the time, the artists who don’t conform to trends are destined to become the most successful. The ranking is based on retail value (rather than units) each market generates respectively per year; retail value generated by each market varies from year to year. The music industry consists of the companies and independent artists that earn money by creating new songs and pieces and organising live concerts and shows, audio and video recordings, compositions and sheet music, and the organizations and associations that aid and represent music creators. Retail sales in every sector of the music industry are declining except for online streaming music and live music. If you continue with this browser, you may see unexpected results. It enables all of us involved in policy making to understand the impact of this important sector, so I am delighted to introduce this year’s Music By Numbers report. First, it examines how musicians have found themselves redefined as content providers rather than creative producers; a historical change from recorded music as product to content. Over the years, we’ve developed several algorithms, that ensure sure that our database is as clean as it can be, but even now we have to keep up some sort of manual maintenance. But data can’t solve every A&R problem. This is the definitive source of revenue data for the recorded music industry in the United States. While we see some impressive improvements in the field of Natural Language Processing (NLP) and Image Recognition, there’s still the problem of identifying the “it factor” of a great artist. A panel at the Midem conference today explored some of those uses, from finding new artists, recommending new music to listeners and experimenting with new marketing campaigns through to exploring new markets. 4 07/21/2016 09:50 am ET Updated Jul 22, 2017 Not too many of us remember vinyl or 8tracks. The music industry consists of the companies and independent artists that earn money by creating new songs and pieces and organising live concerts and shows, audio and video recordings, compositions and sheet music, and the organizations and associations that aid and represent music creators. Although A&Rs are still looking for the same qualities in an artist as they were fifty years ago, what they’re looking for in that same artist’s data – and they way they’re looking for – it has changed dramatically. International Federation of the Phonographic Industry (IFPI) is an non-profit organization that represents the interests of the recording industry. Average ticket prices for current concerts from Pollstar. Music Products Industry Statistics. Music industry Data/Music ID is an inter-disciplinary research tool for music courses, entertainment industry business studies, film & media studies, cultural studies, humanities including modern history and statistics departments. The music industry rewards diversity now more than ever before. Take note from pop stars like The Weeknd, Billie Eilish, and Charlie Puth, who’ve grown an affinity for the style but have a signature sound otherwise. This means companies could be keeping track of where the fans live, what their education or income levels are, and other bits of data … Once you see those unambiguous signals of success, other labels that have access to the same dataset have likely already spotted those signals and leveraged their competitive advantage. For example, if there’s someone that has two million streams in two months, but only has 300 Instagram followers, that means that it doesn’t travel. 7 Performers Who Created Masterpieces with GarageBand, Festify Uses Spotify To Create Your Dream Music Festival, How To Make Collaborative Playlists On Spotify, Apple Music, Facebook, Instagram Update Music Guidelines and It’s Bad News For Live Streams, How Much Does A Major Act Get For Playing A Concert? Provides information on weekly grosses of Broadway shows including comparisons across weeks, average ticket prices, seats sold, number of performances, etc. But most of the time, it was a bust, there was nothing. The RIAA provides the most comprehensive data on U.S. recorded music revenues and shipments dating all the way back to 1973. First of all, numbers can lie and aren’t necessarily a universal sign of quality. Below is a conceptual map of the main elements that A&Rs are looking for when trying to assess an emerging artist’s value. When Big Data came along. Over the years, we’ve developed several algorithms, that ensure sure that our database is as clean as it can be, but even now we have to keep up some sort of manual maintenance. Once the data team has processed all the information and organized it in charts and graphs, it’s time for the Cultural and Production team to step in and identify the real artists. Subscribe to Beats & Bytes for more music industry trends, and share your own insights with us on our socials. The music industry can be even tougher to break into if you are a woman. Even before the acquisition of Sodatone by Warner Music Group, major and big indie record labels started to switch their mindsets and focus on the advantages of a … In this way, the label becomes a reference point for anyone interested in that particular niche. Here Are the Lessons for Your Business By leveraging the same "big data mindset" already adopted by … Industry Data. New technological advancements have already changed the role of A&R in the music industry today, transforming the relationships between labels, artists, and managers. Tools like Music Xray can analyze song structure and offer suggestions for improvement, while platforms like Hit Song Deconstructed provide a granular level of detail regarding the songwriting itself. Data-driven A&R has been a buzzword for quite some time in the music industry, but also one of its most guarded secrets. The recording artist was born, and A&Rs were positioned to help them succeed. Even if supercomputers end up ruling the world, A&R is, and will always be, a matter of brain and heart. governance - opportunities for the music industry to learn from the banking sector in terms of governance, to ensure adherence to data standards Published 18 June 2019 Brexit transition Metadata problems have plagued the music industry for decades. From recommendation engines to choosing the perfect individual playlist and IoT-enabled pop concerts, data is redefining the dynamics of the music industry and the relationship between music and its listeners, in more creative ways than ever. As a result, successful signings that are purely data-driven are extremely rare. What Makes Japan’s Music Industry Unique? Big Data and Analytics played a major role in this modern-day romance. How Data Shapes Sound. Walter Tucker worked two unpaid internships while attending grad school in NYC in order to break into the music industry. Includes facts & figures, global best sellers, social media usage, descriptions of the current economy for digital music, etc. Due to these factors, record labels are extremely careful about how much they share regarding the technology and methods they are utilizing. You can check out website for astrology content. Composers and songwriters create songs, lyrics, and arrangements that are performed live on stage; recorded and distributed to consumer… Every like, retweet, or stream can give A&Rs an indication if a musician is reacting with a possible audience. Total ticket revenues from the live music industry topped $3 billion. https://insidebigdata.com/2017/06/18/big-data-game-changer-music-industry Fan-culture in Japan. Data-driven A&R has been a buzzword for quite some time in the music industry, but also one of its most guarded secrets. IFPI collects and publishes key statistics about the music market and industry. 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. The resource links all the data that exists on music, industry trends and commercial facts. Producing Sexism. “I swear by Hypebot every morning over breakfast.” Derek Sivers Founder, CD Baby, “Hypebot is the most focused music business centric resource we have.” Celia Hirschman One Little Indian, Downtown Marketing & KCRW-FM. Still, data-driven A&R is largely a secret kept in plain sight, and very few people have a clear understanding of what A&R is and how it works in the music industry today. Click on the map for the growth figures in each region. An artist might just get a lucky playlist placement or strike the right viral chord on TikTok. Engagement with streaming drives growth of the global music market . Once you find something that’s reactive on Spotify, you also have to check how the streaming performance looks on Apple Music. Where perhaps in the past sales reports were a few hundred lines in Excel, now musicians, labels, and other rights owners are dealing with millions, if not billions, of lines of data. The music industry has changed quite a bit over the last couple of decades, all thanks to new technology. Really music companies are now data … Physical sales are down for the music industry. As much as underground communities, genre gatekeepers, music critics and art enthusiasts would love it to change, the music industry has been heavily commercialized. How Data Shapes Sound. UK Music Consumption. This guide gathers together a variety of core print and digital reference sources, books, databases, and other relevant resources for studies in music business and the music industry. The overall music industry is based on the creation and exploitation of music-based intellectual properties. According to Music Business Worldwide, big data represented the best solution to the lack of fan engagement issues the music industry dealt with. This sub-section would be the most similar to traditional A&R and would be in charge of consolidating the branding and the aesthetic of the artists. We also offer combined rates with MusicThinkTank. As a former college radio Music Director at RadioBue.it, Rocchi focused on copyright law, new business models, and data analytics. [Price List], Music Tech Accelerator Finals: The Place To Be Today #SXSW Or Watch Online, Music Business Interns Wanted: Hypebot And Skyline Music Agency. The resource links all the data that exists on music, industry trends and commercial facts. From recommendation engines to choosing the perfect individual playlist and IoT-enabled pop concerts, data is redefining the dynamics of the music industry and the relationship between music and its listeners, in more creative ways than ever. However, majors and indies are likely to end up using data in two very different ways. 3 Key Facts About the Live Music Industry. But analytical software can utilize some of it to help the music industry understand the … Below are a number of websites that compile information on ticket sales, attendance at conferences, ticket prices, etc. As all financial data is given in US dollars annual rates of change for all countries other than the United States are heavily influenced by exchange rate fluctuations as well as by actual changes in revenue in local currency terms. The final piece of the A&R office of the future would be the Artist Relations and Mental Health team. He then founded the music education and … The music industry is awash in big data, but is also working hard to find the most intelligent uses for it. Read later. One profile that major labels are looking for today is extremely technical, involving extensive knowledge of SQL, programming languages such as Python or R, a background in statistics, and the ability to create predictive models. This website works best with modern browsers such as the latest versions of Chrome, Firefox, Safari, and Edge. As much as underground communities, genre gatekeepers, music critics and art enthusiasts would love it to change, the music industry has been heavily commercialized. For the Cultural and Production team, community-retrieved metadata can help these researchers see if there’s a particular movement that’s gaining momentum, and they can then use this information to enforce strategic decisions about cover art and production style. As the album format reached full maturity with ‘60s/‘70s Rock, A&Rs were increasingly involved, in varying degrees, with every aspect of an artist’s development, from discovery to production, creative direction to career trajectory. Even before the acquisition of Sodatone by Warner Music Group, major and big indie record labels started to switch their mindsets and focus on the advantages of a data-driven approach. If we look at this recent job posting by Motown Records, we can see a very different kind of professional figure than the usual A&R job description. The industry’s aim now is to combine this deeper understanding of its customers with the deeper understanding of the music itself, which Big Data has also made possible. Three key players are responsible for either the success or the failure of an act. The amount of data available to organizations in the music industry has reached unprecedented levels. The way a singer moves on stage, the way they interact with their audience — even the timbre of their voice — are all characteristics particular to an individual and cannot be reduced to a matter of “good” or “bad,” “successful” or “unsuccessful.”. And that was my first research. Music companies and everybody in the music business need to understand data. As the commercialization of the phonograph ramped up during the mid-20th century, the music industry was splitting from two sectors into three sectors: publishing, performing, and now, recording. Not only are there no standards for how music metadata is collected or displayed, there’s … According to a recent survey, almost 88% of credited songwriters and 83% of musicians in the recording industry are men. A&Rs weren’t just song pickers or talent scouts: They were the business-minded angels on artists’ shoulders, the bridge between the artist’s wildest creative impulses and the record label’s most stringent budgetary concerns. Summary: Speakers at one of the UK’s biggest music conferences expose how digital opportunities are being missed by both musicians and their distributors. A&R, or Artists and Repertoire, really came into its own with the development of the recording industry. var F14249_sb_requiredFields=new Array();var F14249_sb_validateFields=new Array();F14249_sb_requiredFields.push('F14249_sb_Category');F14249_sb_requiredFields.push('F14249_sb_email');F14249_sb_requiredFields.push('F14249_sb_feedid');F14249_sb_requiredFields.push('F14249_sb_publisherid');F14249_sb_requiredFields.push('F14249_sb_cids');var F14249_sb_fieldcol='#000000';var fbz_F14249_sb_logged=false;function F14249_sb_wait_fn(){try{if(!fbz_F14249_sb_logged){fbz_SmartForm('F14249_sb',feedblitz_full_form);try{s('F14249_sb');}catch(e){};fbz_FitForm('F14249_sb');var F14249_sb_wait_img=fbz_formMetrics(14249,1);fbz$('F14249_sb_wait_img').innerHTML=F14249_sb_wait_img;clearInterval(F14249_sb_wait);fbz_F14249_sb_logged=true;}}catch(e){}} While the statistics mentioned above allow to draw a general picture of the market, to understand exactly why the Japanese industry is different from the western ones we will now take a deeper look at the drivers of the industry, exploring unique cultural patterns of the Japanese market. Major and big independent labels will inevitably develop their own internal tools (as is already the case for Sodatone and Warner Music Group) to keep their competitive advantage over other A&R teams. While we are moving toward a world where everything will be duly classified and indexed, truly devoted human interactions will become even more valuable, especially in an industry that has always been dominated by the survival of the fittest. 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. Provides chart information and news for the music industry. When Napster took on the music industry in 1999, record companies fought back in courtrooms but failed to come up with a viable model to combat the illicit music factory growing online. Like the industry itself, MusicID moves with the times, now representing a universe of more than 300 million rows of data representing 74 countries, updated every week. This was followed by a short set of presentations from key analytics and data platforms about what they do and how they are bending to fit the industry’s needs. 3. Our up to the minute industry news alongside insightful commentary helps our readers sift through the rumors and developments to find the information they need to keep their businesses moving forward. However, classification algorithms are getting better and better at categorizing features such as mood and genre. From information we derive knowledge, making our way up the data pyramid.It is the industry-specific context that will help us convert our information into knowledge. Music, Film, TV and Political News Coverage. In this particular profile, there is no mention of any skill related to assessing talent, evaluating production and song structure, or vetting an artist’s branding. Big data is a term that reflects the amount of information people generate – and it’s a lot. Live music is simply easier to control than recorded music. The fact that some artists don’t have very big numbers at the beginning of their career doesn’t necessarily mean that they don’t have potential. Guest post by Tommaso Rocchi from Chartmetric. These professionals would be responsible not only for the actual signings and managing relations between artists and their management, but also monitoring the mental health of artists. Believe has partnered with Ekimetrics and YouTube to carry out the first econometric study in the music industry with 17 Believe artists in France. Global growth by region. Big Data and Analytics played a major role in this modern-day romance. UK Music has built an excellent reputation over the years for providing robust data that helps shine a light on the music industry. The numbers for 2018 show that the industry is continuing on the growth path that started in … This was tested in late 2012 when a … As of March 2019, over 70% of the songs on Spotify’s Global Top-50 playlist were recorded by US-based artists. With the internet and digital technologies driving rapid change within the music industry, articles about new releases and who has been hired and fired are no longer enough. var F14249_sb_wait=setInterval(F14249_sb_wait_fn,100); Start your FREE subscription to Hypebot today. According to Music Business Worldwide, big data represented the best solution to the lack of fan engagement issues the music industry dealt with. Commercial artists’ task here is to create music that will satisfy big audiences and make a profit. For better or worse, the music analytics tools of today’s music industry are largely audience-based. 4. Hypebot is read daily by more than 30,000 music industry professionals including executives and senior staff of music related tech firms, internet based music sites, every major label group and most indies as well as many managers, artists and members of the live music community: Contact us for the latesst stats, ad rates and sponosorship opportunites. In order to understand the dynamics of the music industry, it is first of all necessary to recognize that the music industry is not one, but a number of different industries that are all closely related but which at the same time are based on different logics and structures. Blair worked through the range of data sets open up to the music industry, giving tips on how best to read them and indicating what are the most accurate metrics of success and engagement. The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). My first gig with Craig Kallman [now CEO of Atlantic Records] was going around to record shops with records and trading them for independent ones. Saying too much could mean losing a competitive advantage over another label and potentially arriving late to a signing. MusicID provides researchers with sophisticated infographics and authoritative data, making it an essential tool for advancing new insights and ideas. I'm an award-winning music writer and researcher, passionate about propelling innovation in the music industry using a combination of in-depth business acumen and data … Data-driven A&R has been a buzzword for quite some time in the music industry, but also one of its most guarded secrets. We would go to all these shops and find out what people were listening to. 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