There’s a sea of data out there. You will know as well as everyone else that finding the right artists for your label can feel like searching for a needle in a haystack, but an abundance of data can only mean one thing for your independent label… opportunity. How can I leverage the seemingly never ending stream of data points coming at me from every conceivable angel I hear you ask? Chartmetric scouting might just be your new best friend. With its extensive collated data that reaches far and wide across a plethora of DSPs it could be just the tool you’re looking for.
So, what’s the deal?
It collects data from multiple sources, including music streaming services, social media platforms, and radio airplay tracking, to give you a comprehensive insight into the popularity of music in different regions and demographics. By tracking music charts from various regions and collecting data on sales, streams, and downloads of music, as well as social media engagement, such as likes, shares, and comments, it provides a complete picture of a song and artist’s performance. Armed with the data Chartmetric has to offer, you will be able to confidently identify and evaluate every artist you reach out to before you sign them. It doesn’t stop there though! Not only do you get insight into an artist’s performance, but Chartmetric also helps you paint a picture of your artist’s audiences, giving you a great insight into what new artists will fit your current roster’s fanbase.
Pros
The metrics the site provides are incredibly in depth and reveal many different facets of how an artist’s music has been streamed, how many unique listeners they have, and how long people are listening to their music. They give you the ability to scout within specific niches, such as only looking for artists that are gaining traction onTiktok or Youtube, rather than in markets that bigger labels may already be looking in. Any advantage that you can gain as an independent record label is invaluable in the music industry, and Chartmetric offers a tool belt that can assist you in scouting outside the box.
Cons
Chartmetrics strengths are many, that being said, it can make it very easy to get bogged down in incredibly focussed data. You need to remember to keep track of the trends in the music industry. By keeping up to date with the latest music trends, record labels can predict which artists or genres are likely to become popular soon and also identify whether certain songs may be due a drop off in streams.
You need to be aware of what you want your label to be. For many, just chasing after the top performers in the world of data will only work in the short term if your label ultimately doesn’t have good synergy with the artists you sign. Before going forth with the tools Chartmetric offers you, have a clear idea of who and what you’re looking for. When you get artists that match your criterium you’ll be more sure that these will find longer term success!
If you’ve found this relevant and helpful, visit Instrumental to see how we can help you further grow your label!