Until recently, the idea of spotting emerging musicians through big data – analytics-driven A&R – was notable mainly for the ‘gut over data’ grumpiness it sparked on conference panels.
However, things are heating up in this space: in March, Warner Music Group acquired a startup called Sodatone that does exactly this task, while UK firm Instrumental announced a $4.2m funding round to continue developing its TalentAI platform, which mines Spotify and other services to identify artists with potential.
Now there’s another for the list: US startup TuneGo, which has completed a $7.7m Series B funding round.
“Big data, which is the new currency in the music industry, both for the independent artist and music executives, drives talent and content decisions by industry insiders and with our unique model, we are leading the way,” said CEO John Kohl – although given the competition, it’s the fact that this model *isn’t* unique that makes this area more interesting in 2018.
The funding follows TuneGo’s announcement in March that it was also launching its own record label, TuneGo Music Group, to sign up-and-coming talent.