Fan Data Is the New Currency of the Music Industry—and Why Are Artists Still Broke

Making a Scene Presents - Fan Data Is the New Currency of the Music Industry—and Why Are Artists Still Broke The Gold Rush Nobody Told the Artist About Every time a fan streams a song, skips a song, saves an album, watches a video, buys a ticket, clicks an advertisement, follows an artist, visits a website, or abandons a shopping cart, something valuable is created. Data. That data may reveal where the fan lives, what music they enjoy, which device they use, when they listen, what they buy, how much they spend, which advertisement caught their attention, and what action they are likely to take next. The modern music industry runs on this information. Streaming services use it to recommend songs. Social networks use it to decide which posts appear in a feed. Advertisers use it to target possible customers. Ticketing companies use it to promote future events. Record labels use it to decide where to spend marketing money. Everyone appears to understand the value of fan data except the person who created the reason for that data to exist. http://www.makingascene.org