Columbia UK’s head of radio Samuel Potts has published an interesting blog post suggesting that “record labels need a change of culture in the ‘dashboard era’ of the music industry”.
It’s worth a read. Potts talks about the opportunities in big data for music, suggesting that BuzzFeed and the Golden State Warriors basketball team have lessons for our industry.
BuzzFeed? Its metric of ‘viral lift’ could be adapted for music, he thinks. “The data ‘arms race’ could be lead by whoever gets closest to working out what our version of ‘viral lift’ is, a way of accurately measuring the artist/fan experience across the multitude of touchpoints that now exist — probably some complex amalgamation of shareability, conversion, retention, and sentiment?” wrote Potts.
After an explanation of how the Golden State Warriors used data to improve their shooting efficiency, he concluded that the music industry has more work to do.
“We cannot afford to have a situation where data and insight only exists in the ‘data and insight department,’ it needs to be spread across and used by the whole team…”