In order to serve the increasingly complex needs of the music ecosystem,
FuturePulse will develop and pilot test a novel close-to-market music platform in
3 high-impact use cases that will help music companies leverage a variety of music data and content, ranging from
broadcasters (TV, radio) and
music streaming data, to
sales statistics and streams of music-focused
social media discussions. Through
sophisticated analytics and
predictive modelling services, companies will be able to make highly informed business decisions, to better understand their audience and future music trends and ultimately to make music distribution more effective and profitable.
The project’s 3 high-impact use cases are:
- The Record Label Use Case
FuturePulse will help music professionals grasp how all the different signals in music streaming, music play in radio/TV and social media sharing, translate to future music sales and revenues and what are the best strategies to optimize them.
- The Live Music Use Case
FuturePulse platform will collect and analyze data from multiple sources around artists in order to predict the ticket sales that an artist would bring for a particular venue, the audience demographics (e.g., age composition), discover and recommend artists that will be a good match for a venue, and support the end users in pricing the artists for live events. FuturePulse will make the results of this analysis accessible to the main live music industry stakeholders: a) venues, b) promoters, and c) festival organizers.
- The Music Platform Use Case
FuturePulse will provide a platform for joint analysis of music play data coming from the music streaming platform and data coming from the client business where music is played. This will allow the end user to uncover valuable correlations and recommend music to stream to optimize business goals.
FuturePulse will offer these capabilities over a user-friendly, highly intuitive and visual web solution that will enable the immersion of music professionals in the realm of music data, and will support them to make highly informed and effective business decisions (e.g., artist/venue to book, marketing budget).
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