Update as of 2019/06/22: Cross-Platform Performance now also includes Apple Music as a data source. As a result, all weights and calculations have been tweaked for better balance.
The biggest challenge to understanding artist performance is contextualizing different metrics from an incredible number of potential data sources. Many people start their quest to analyze artist performance by gathering as much data as they can. However, they soon find themselves surrounded and overwhelmed by all the data available to them.
Our goal at Chartmetric is to push boundaries by strategically utilizing data to empower the music industry, so we set out to find a solution to this problem.
The biggest challenge to understanding artist performance is contextualizing different metrics from an incredible number of potential data sources.
Let’s say we want to assess just one artist’s performance. Consider the dizzying number of data sources:
Music Platforms: Spotify, Apple Music, Youtube, Deezer, iTunes, Soundcloud, Songkick, etc.
Social Media Platforms: Facebook, Instagram, Twitter, Wikipedia, and more.
Success Measures: Streaming activity, Shazam searches, chart position, active monthly listeners, followers, subscribers, likes, retweets, Wikipedia searches, and fans to name a few.
All of these metrics are important, and savvy individuals will look at each measure directly when the situation calls for it. For example, did that banner ad for your YouTube channel actually increase traffic? But very often, people just want a general assessment of how artists are doing–and they need it quickly. Unfortunately, quick assessments are often vulnerable to relying on, or being easily swayed by, personal biases.
Contextualizing all the potential data-driven insights consistently, systematically, quickly, and without personal bias is very difficult.
To meet this challenge, our team has been consulting with users from all over the music industry and working diligently to create a quantifiable, logic-driven, and objective measure for cross-platform performance.
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