Having secured £3 million of new funding earlier this week, Musicmetric has now announced a new partnership with Spotify to provide analytics of user behaviour on the streaming service to its industry partners.
Spotify Label Relations Director Will Hope said of the deal: “[Spotify's] listener data is invaluable to the music industry. We are confident that by allowing labels and managers to clearly see the links between streaming, sales and online interaction, that we can work even more closely with rightsholders to drive more listeners and increase revenues for artists on the service”.
Co-founder of Musicmetric parent company Semetric, Marie-Alicia Chang added: “As the world’s leading streaming music site, combining Spotify’s data within Musicmetric Pro gives us a significant advantage. Our detailed BitTorrent data sphere already eclipses anything available in the market place, and the addition of legal streaming information will enable our clients to benefit from the most advanced music analytics available anywhere”.
She continued: “Our first Digital Music Index showed the prominence of Spotify was on the rise, with a clear correlation between increased legal streaming and decreased file sharing. With such a centric role to play in the future of the digital music industry, it is essential that Spotify data can be easily compared with other important trends, and we very much look forward to building on our relationship over the coming year”.