MusicTank, University of Westminster, has opened the floor for its first Think Tank Debate of 2015: Is Data The New Oil? The question originated from the observation of the unrelenting shift today’s music industry is making toward being data smart. Data has undeniably jumped in the drivers seat, informing the decisions of industry professionals ranging from top tier executives to the newest emerging artists.
Taking place within a new platform, Future Thinking, to profile outstanding postgraduate music business talent drawn from University of Westminster's world-leading MA Music Business Management course, this event will begin with a presentation of an insight paper, Moneyballing Music by Universal marketing assistant Prithwijit Mukerji, which borrows performance analysis theory from the US sports industry and applies it to the recordings sector.
“Moneyballing”, by today’s definition, refers to the use of smart data to improve performance. Applying this theory to the music industry puts a spotlight on the recorded music sector and how they’re employing the use of data to assess and predict music fans behavior and consumption trends. While numbers don’t guarantee the success of a musician, it does help these major labels assess the risk factor in the signing process and the making of investments.
Drilling down on the implications, practicalities and purpose behind harvesting and interpreting all of this data is an esteemed panel, including Jack Fyer, Head of Research, Universal Music UK; digital media specialist and former Musicmetric Executive Chairman, Jeremy Silver, career A&R Korda Marshall, Founder of Infectious Music and digital, mobile and social media marketing guru, Kim DeRuiter, Samsung Electronics.
Keith Harris, Chair of MusicTank, University of Westminster said, "A couple of years ago I heard someone say 'data is the new oil'. I didn't fully appreciate the significance of that statement. What a difference a few years makes... We'll look at the challenges and opportunities and ask what the future holds for this increasingly data-centric industry."
Title: Moneyballing Music: Big Data, Consumers And A&R
Date/ Time: Tues 10th March 2015 | 18.30 - 21.00 hrs
Venue: Fyvie Hall, University of Westminster, 309 Regent Street, London W1B 2UW
Prithwijit Mukerji (marketing assistant Universal Music UK); Jack Fryer (Head of Consumer Insight, Universal Music UK); Jeremy Silver (Digital Media Advisor & former Executive Chairman, Semetric (Musicmetric); Keith Harris (Chair, MusicTank/ PPL Director of Performer Affairs & Keith Harris Music Ltd (Stevie Wonder); others tba.
Cost: Earlybird rates currently apply from £25 (students £15)
Information & booking: musictank.co.uk/events/moneyballing-music-big-data