INgrooves’ ‘Trends Now’ Makes Sense of Streaming Data
Digital music distributor INgrooves has launched a new data-mining tool designed to help labels sift through and make sense of the copious amounts of information now flowing from digital services to music suppliers. The technology is aimed at making it easier for clients to spot both marketing opportunities and potential business threats.
All labels currently distributed by INgrooves can now access its Trends Now tool through their personal portals on the company’s website, according to Billboard Biz. Once logged in, they will be able to view catalog activity on every digital service and on every playlist in order to determine where the biggest opportunities lie.
At present, the data can be viewed both globally or by country, and from a song, artist or label perspective. Trends Now also compares how a song is doing on various playlists across services to help determine the best placement.
“Our focus is on analyzing and curating massive amounts of data to surface timely, actionable insights that allow our partners to consider and execute effective marketing plans,” says INgrooves CEO Bob Roback. “Trends Now is a unique and impactful tool for labels and artists to directly confront the growing marketing challenge.
“With all the data coming in — it’s a massive amount — with the growth of streaming, the real issue is marketing,” he added. “Through data mining and building algorithms, we have structured a system that allows us to do a better job of analyzing what’s happening and what’s working, so that labels can make smart, quick decisions on what opportunities to pursue.”
