Musimetric - Labels
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The document introduces 'musimetrics', an application designed to help record labels objectively assess the potential success of bands by analyzing historical performance data from various music platforms. It highlights the lack of measurable metrics in the music industry and suggests that labels could benefit from a system that rates bands on a scale of 0-30 based on comprehensive performance indicators. This innovative approach aims to reduce investment risks and transform traditional business models in the music sector.
Musimetric - Labels
- 1. If you own or work for a record label, we think you might be interested in our application…
- 2. We think it could help you think differently about how you invest in talent…
- 3. We all know labels tend to invest lots of $ in a small number of bands….
- 4. But what we don’t really like to admit to, is they do so with next to no objective way of measuring how successful those bands might be…
- 5. We love the band, everyone loves the band! We’ve seen gigs full of fans, we know they’ve sold some records….
- 6. But imagine if historical performance information about a band you were interested in signing was available…
- 7. Imagine if you could see the history of plays on MySpace , Last.fm , facebook….
- 8. We think that would be useful information to have before you signed the band…
- 9. We think it might, at the very least, act as a sense check before people wrote the cheque…
- 10. But what would happen if you could see much, much more than this…
- 11. What if you the number of emails they were sending, and more importantly, the bounce and unsubscribe rate was there… (less than 2% of email addresses on most bands mailing lists are real, active fans)
- 12. What if you could see the number of realtones they sold, the number of t-shirts, the number of files being traded on the p2p networks….
- 13. If you had that information that would be even more useful right?
- 14. musimetrics
- 15. We call it musimetrics. You might think of it as the Bloomberg of the music industry…
- 16. Yeah ok. So its not very pretty . But the basics are there…
- 17. A system which can take daily information from a range of different music related websites and build a real picture of a bands performance…
- 18. As easy to use as google analytics, rating each band 0-30…..
- 19. 0 they shouldn’t give up their day job , 30 you should get your cheque book out…
- 20. If you are a label you can check the hype around a hot band…
- 21. If you are a promoter, you can find out how many fans the support act really has….
- 22. As a merchandiser you can offer deals to bands way before they asked for their $250k advance…
- 23. So how does it work …. (if you have time watching this video about the semantic web is useful)
- 24. When a person applies for credit, an agency looks at information about them…
- 25. Their previous credit history, where they vote, whether they paid back previous loans on time, and gives them a credit score …
- 26. A judgement is made about how likely it is they will repay the money by looking objectively at information about them...
- 27. This is what the musimetrics system does for bands.
- 28. Every day it requests data from a range of different websites - Myspace, Facebook, Last.fm….
- 29. And tells the user how likely it is, a particular band will be successful .
- 30. This has never been done before in music - in sports, finance, politics – yes - but never in music.
- 31. A global, automated, real time database which every sector of the music industry and beyond could use.
- 32. In the US, Billy Beane took a failing baseball club to the playoffs 2 years running using this thinking (they wrote a book about him).
- 33. Doctors took the same approach at Chicago Hope to save the lives of thousands of heart attack victims (they wrote a book about them).
- 34. Investment funds use this thinking every day to help them decide which companies to invest in (they wrote a book about them as well).
- 35. For a record label it is a no brainer. Musimetrics represents the chance to spread the risk of their investment and reinvent their business model…
- 36. If you’re a label – get in touch. We’re looking for partners. Skype : savioursofpop Call: +44 (0)207 917 2853