By Peter Arndt – Amped Up Digital Guest Blogger

*This week we are focusing on our friends in the music industry. Even if you are not in “the industry” give this article a read anyway. There are some great music discovery tools mentioned, as well as thoughts about tracking data that could apply to your business. – Enjoy, Kelly

As those of you in the music industry already know, it continues to rapidly change and artists, labels, and management must try to adapt. The traditional paradigms in the music business have been turned on their head. The technology available to create, consume and monetize music has changed greatly. What began with WinAmp and Napster has evolved into iTunes, YouTube, Pandora, and Spotify. According to a recent Billboard article, nearly 1/3 of consumers in 25 countries around the world now use a music streaming service.

The advances in these mediums for the creation, consumption, and monetization of music have expanded the amount of data that must be collected and interpreted.  The question now becomes how do you manage and make decisions from this data. In 2009, Next Big Sound was formed out of necessity to make sense of this new data and frustration with the old music industry business model.

Next Big Sound is Co-Founded by Alex White, David Hoffman, and Samir Rayani. Next Big Sound provides analytics and tracking of thousands of artists across all major web platforms (YouTube, MySpace, Facebook, Twitter, Wikipedia, etc). They are graduates of the TechStars Class of 2009, a technology startup accelerator based in Boulder, CO. Since TechStars inception in 2006, they have expanded their program locations to include Boston, New York City, Seattle, and San Antonio.  Next Big Sound’s users include individual artists, managers, indie labels, and some of the most recognizable labels in the world. It currently powers two of Billboard’s charts: The Social 50 and the Next Big Sound chart of up-and-coming artists.

Click to see Alex White of Next Big Sound pitch at TechStars Demo Day (2009) –Pitch begins at the 8:45 minute mark.

The demand for tracking and analytics has increased so much that in January 2012 Next Big Sound raised a $6.5M Series A round from notable venture capital firms. The round was led by IA Ventures and included the Foundry Group and SoftTech VC, bringing their total venture funding to $7.5M. Next Big Sound offers the ability to see social media data alongside traditional sales data, radio plays, traffic to an artist’s website, and P2P activity all from one service. Record labels can view a dashboard, which shows them how fans are engaging with bands online in relation to album sales, both offline and online.

Now that all these different mediums for creation, consumption, and monetization exist, the question is now how to make sure that my band, my artists or my label has a presence on them. Tools like Next Big Sound provide you with the entire picture of a bands online footprint, letting you effectively engage and market to your fans.

Amped Up Digital can always help you with the creation of your digital content or social media. Amped Up Digital has the experience and ability to work with anyone from individuals to labels, helping you to ensure that you are effectively connecting with your fan base.

Send us an email or give a call and let’s make it happen.






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