The music you listen to could now help drive the ads you hear online. With the launch of Music Audience Understanding, clients of The Echo Nest can deliver targeted advertising using musical preferences to predict demographic and psychographic information without revealing other personal information. Broadcast radio advertising still totals $15 billion a year; and Music Audience Understanding gives online broadcasters new tool to attract more of those dollars.
Initial customers of The Echo Nest's Music Audience Understanding tech include TargetSpot, billed as the world's largest digital audio advertising network. The EchoNest already powers personalized, streaming music for Rdio, Clear Channel's iHeartRadio, Rhapsody, SiriusXM and others. Presumably some of these streamers will also adopt the the new offering.
"We saw an opportunity early on and invested over two years of R&D to help music services turn anonymous listening behavior into high-value audience segments for advertising," said Jim Lucchese, CEO of The Echo Nest.
Real-time segments available with Music Audience Understanding include:
- Music fans' age and gender;
- Music fans' affinity for 20 lifestyle categories (e.g. Foodies, Gamers, Pro Sports);
- Music fans affinity for 710+ music genres; and
- Music behavioral segments such as "Mainstreamness" and "Freshness."