VIDEO - Prithwijit Mukerji: Moneyballing Music
19 Feb 2015
Prithwijit Mukerji | Publ. Jan 2015
Prithwijit’s MA Music Business Management Project paper is an empirical study of the use of social media Big Data to better anticipate consumers’ tastes and better inform A&R processes and decision-making. By Spring 2014, this was an extremely current subject, the stature of which developed significantly during the course of his research including Shazam’s link-up with Warner Music Group (Feb 2014) and the purchase of The Echo Nest by Spotify (March 2014). This paper successfully analysed current business trends incorporating latest research and industry-based interviews and as such offered an overview of an emerging and exciting field of study.
The music industry is already cautiously edging towards embracing big data, with the emergence of companies such as Next Big Sound, Musicmetric, The Echo Nest and with partnerships such as those between Twitter and 300, Spotify and The Echo Nest, and Warner Music Group and Shazam, forming over the last few quarters.
Big data provides the answers to questions involving ‘what’, ‘how’, ‘where’, and ‘when’. What it is perhaps not excellent at doing is providing the solution to ‘why’.
ON MARCH 10TH: Taking its lead from the recent publication of an MA thesis (free, here) on the subject of Big Data, this Future Thinking event will begin with a consideration of how the recorded music industry is currently collecting and using data to support a historically subjective process of signing new artists, and will go on to look at the potential of smart data for the wider industry.
With 2014 witnessing a series of high-profile acquisitions and alliances between major record labels, social media and digital service providers, Apple’s hotly-rumoured January acquisition of Musicmetric further evidences the industry’s quest to become data-smart.
Join us, and our top-drawer panel to consider whether big data really is is the new oil…
MORE EVENT DETAILS HERE…