‘The major labels are spending big on data. Indies must turn to tech to compete’ –

Big data has become one of the buzzwords of the modern-day music business, and for good reason. In an increasingly mature digital world, there isn’t a single point in the route to market – from promotion to distribution to retail – that can’t be monitored in incremental detail at the touch of a button.

It’s important to remember, however, that collecting data is only half the battle when it comes to creating opportunities.

More important is the way in which managers, labels and other divisions of an artist’s team interpret and apply the raw figures. Naturally, as the mountain of data in front of us grows, that’s a task that requires more time and resources. As ever, that means that the independents of the music world need to work smarter if they are to keep up with the financial clout of the majors.

Source: www.musicbusinessworldwide.com

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