It’s been a busy start to 2012 for music startup funding, with SoundCloud’s whopping $50m round, and now analytics firm Next Big Sound revealing its own $6.4m funding round. The round is led by IA Ventures and the Foundry Group, and will fuel the company’s expansion of its business into new areas. “This year we will be focusing on expanding beyond labels, managers and artists to all the major players in other segments throughout the music industry (agents, publishers, radio stations, promoters, PROs etc.) and all adjacent industries,” CEO Alex White tells Digital Music News. “All of these enterprises can benefit from increased use of data in the decisions they face every day.” White also says Next Big Sound has just signed two new analytics deals with major labels, and plans to expand its office in New York. The funding comes shortly after Next Big Sound’s main rival, BigChampagne, was acquired by Live Nation.
Next Big Sound raises $6.4m for analytics ambitions
January 4th, 2012 by Music Ally