Data has become the most important source for record labels and media houses and advertisers to grow in the modern era. WMV began out of a need to provide the undeserved parts of the music industry with Big Data, chart insights and analytics, with a view that the data itself is now considered currency.
These services have helped artists to flourish on a high scale by following the Data Trends. It is estimated that this year, big data industry will grow up to $77 billion and the further digitalization of the recording businesses is the main reason behind the increased usage of big data to optimize artists reach.
Data is essential for any artist in the modern music industry if you wish to get ahead of your competition and with the right data, artists can plan their marketing, understand their fans, project sales, and negotiate better deals.
RCA records artist Skillibeng asserted last year that his dominance in the dancehall is valid based on data and says that makes him the leader of the new generation.
The Whap Whap DJ peaked at No. 100 on the hot 100 with a Nicki Minaj remix of Crocodile Teeth drew battle lines when he made those comments in an interview with “On The Radar Radio.”
“I think I am the leader of like the new generation, based off what stats are saying and shows,” he remarked.
Years ago the way to tell if a dancehall act was at the top was solely based on live crowd interaction.
As streaming becomes more integrated, data is the only way to become a platinum superstar and differentiate yourself from the overhype in the music industry. Here are a few reasons why artists need data ad how to use it to stay ahead of the curve:
- Planning Your Marketing Data
Since marketing is the whole game, the first thing artist must used to do is to help with a marketing plan. By understanding your fan base, you can make decisions about which platforms to use, what type of content to produce, and how to reach the right people. Additionally, data can help you measure the success of campaigns and adjust your strategy accordingly. Not only can data help you plan your marketing, but it can also help you project sales.
- Knowing Where Your Fans Are
WMV’s YouTube Insights Data can help you identify where your fans are located with comparison on how our music catalogue is doing in relation to other artists. Knowing where your fans are, you can tailor your marketing strategy to those locations. Additionally, you can use data to find out what type of content your fans are interested in, so you can create content that resonates with them.
- Knowing How Your Fans Think
WMV’s News Data can help you gain insight into how your fans think on a daily basis but data by itself won’t help. You need to be able to analyze the data and determine what type of content fans are responding to and what topics they are interested in so you too can become part of the conversation. Check out the top news of the day and plan properly to see how media responds to your activities and adjust accordingly.
- Knowing How Your Genre And Fans Are Growing Globally
WMV’s Music Report data can help you track the growth of your fan base identify what type of content is most successful and resonate with them.
With up to date data collection and analysis from the biggest players in the industry we curate the information for you so you can keep track of global music purchasing habits. You will also better understand what type of music resonates globally each year.
- Knowing Your potential Fan’s and Investor’s Budget
Our Music Business Data can help you understand the the economic class of your fans and understand where the money comes from in music. Many artists play to the fans that simply do no have the means to purchase their music and as such but with data, you can gain insight into what type of merchandise or experience they are willing to pay for, how much they are willing to spend, and who are the people willing to invest in buying or licensing your music. There are codes and apps and insights int the type of discounts fans are likely to take advantage of when you go on tour as well who to go to for sponsorship or pitch for label support.
- Knowing Who To Collaborate With
WMV’s extensive dancehall genre data for example helps to identify who are the best collaborators to fit your music. Knowing which artists have similar can fan bases, or opposites or what type of content resonates with both fan bases, and how to reach the right people with your collaborations is a key different maker for a hit. Additionally, data can help you identify potential sponsors and partners that fit your brand and may be interested in working with you based on their company goals.
- Projecting Sales
WMV’s Sales Data can help artist to assess pass sales reports and project their future sales on albums and songs. By analyzing the data, you can identify chart trends based on a genre’s daily, weekly, monthly or yearly impact. You could also identify what type of supporting content is popular, and how your fans are responding to your music in real time. This can help you identify potential opportunities to increase revenue and make informed decisions about the future of your music.
- Knowing When You Strike Gold
WMV Milestone Data can help you identify when you have struck Gold or Platinum with a song or album or achieved a grand milestone. Over the last year, many artists have received Gold and Platinum Plaques for music certifications via Music Canada, the Recording Industry Association Of America (RIAA) , The British Phonographic Institute (BPI) and many other music organizations around the world. The proper analysis of this data can help artists determine which songs are resonating with your fans, what type of content is selling and where you should be focusing your efforts. Additionally, modern data such as TikTok insights can help artist identify potential opportunities on various platforms to capitalize on the success of a song or album.
In conclusion, data is essential for any artist in the modern music industry. With the right data, artists can plan their marketing, understand their fans, project sales, and more. Data can help artists make informed decisions about their music and marketing, understand their fans better, and capitalize on their success.
