Havas and Universal Music Group have this week announced the formation of the so-called Global Music Data Alliance (GMDA), a partnership that aims to increase revenue streams by mining the consumer data generated by Universal’s artists.
With billions of data points that Universal and its artists generate through sales, streaming, social media and airplay to be aggregated and “contextually analysed” by Havas data teams, the results could provide new revenue opportunities by creating marketing and advertising opportunities for brands.
The announcement was made by Lucian Grainge, chairman and CEO of UMG, and Yannick Bollore, chairman and CEO of Havas Group, at the 2015 Consumer Electronics Show in Las Vegas on Monday.
“We want to continue to find new revenue and marketing opportunities for all of our artists around the world,” said Grainge, adding that by using big data tools the group could “supercharge” its efforts to realise previously untapped revenues from consumer brands.
As part of the initiative, UMG’s data will be layered with Havas’ behavioural data to allow for a “greater understanding of the correlation among artists, music fans and brands”.
“Music transmits emotions, cultural symbols, and values like no other form of creative expression,” said Bollore. “By managing the most successful artists and largest music communities in the world, Universal Music Group is at the forefront of the industry and has already gathered unique consumer insights and databases to empower its labels, artists and fans.
“This first Global Music Data Alliance will allow our clients and other brands to further expand the common passion they share about music with fans and create more meaningful experiences for them.”
Bollore said advertisers will be better able to identify which genres and which specific artists appeal to their consumers, making the decision to invest in music-related marketing more accountable.
