Charting Your Course for Success? – Chartmetric Analytics

Understanding your artists and your own online presence is the key to repeatable, prolonged success. In today’s digital age, that means you need to turn to analytics tools to measure your success and chart your course for growth. There are plenty of tools that can assist you in this, but Chartmetric has quickly become many labels’ first port of call when it comes to data analytics. So, is the reputation deserved? 

First off a quick overview of what it offers – the platform collects data from a variety of sources, including streaming platforms, social media, and radio airplay. It then turns that data into valuable insights that you can use to make data-driven decisions about your marketing strategies, build-out your rosters, and maximise your revenue potential. 

Measuring Your Online Impact

With Chartmetric Analytics, you can track your artists performance in real-time. The platform provides a wide range of metrics, including Spotify and Apple Music streams, YouTube views, social media followers, and many more DSPs. This allows you to gain valuable insights into your artists audience and develop effective strategies to increase their online visibility and revenue. This data is crucial in demonstrating to you what is working and what’s not for your artists, being able to spot trends as they form is invaluable as a record label, but as these tools become as easily accessible as Google, you’ll need to learn how to get the absolute best out of this software and others like it.

Comparing Artists and Building Your Roster

One of its most powerful features is the ability to compare your artists against competitors. You can analyse their streaming numbers, social media engagement, and other metrics to see how they stack up against similar artists. This can help your artists stay relevant for as long as possible as you can adopt trends that other artists are seeing success with, whether that’s the explosive popularity of a genre or jumping on certain TikTok trends, it all helps to boost your artists streams.

This data can also help you identify new talent, build your roster, and make strategic decisions about who to sign and promote. You’ll be able to get a clear picture of which artists are having similar success to your own, allowing for your future signings to join your label as seamlessly as possible. As you go into pitching a deal to an artist, having a clear idea of how their socials and streaming data is trending will also enable you to give the fairest offer for all parties.

Growing Your Music Online

Ultimately, the goal of Chartmetric Analytics is to help you as an independent record label grow your music online. By providing detailed analysis of your streaming numbers, social media engagement, and other metrics, it can help you identify your strengths and weaknesses and make data-driven decisions to optimise your marketing strategies. It provides real-time data on the number of plays, monthly listeners, and followers on platforms such as Spotify, Apple Music, Deezer, and SoundCloud. By analysing this data, you can determine which songs and artists are performing well and streamline your marketing efforts accordingly. The platform also provides data on social media metrics such as TikTok, Twitter, and Instagram followers, helping labels determine which platforms are most effective for engaging with their audience and promoting their music.

On top of this already impressive data set, Chartmetric also provides analytics pertaining to the number of playlists that feature a record label’s music. This data is an extremely effective and simple way to paint a picture of which playlists are driving the most streams and followers to your artists, helping you develop strategies to get their music featured on more of these playlists.

The Pros and The Cons 

As with any tool, there are pros and cons to Chartmetric. On the positive side, the platform provides a wealth of data and insights that can help independent record labels grow their music online. The ability to compare artists and build your roster is particularly powerful, as is the real-time data on streaming and social media metrics. The amount of platforms the site has data on is the greatest selling point of Chartmetric, with all the most relevant bases being covered with data points in some way

However, there are some drawbacks to consider. The platform can be overwhelming for those who are new to data analytics, and the sheer amount of data can be difficult to navigate. You need to know what you’re looking for and make sure you know just how many data sets the site offers, otherwise you’ll be letting its full potential go to waste. Additionally, some users have reported issues with the accuracy of the data provided, though these instances are largely rare, it’s important to make sure your view of an artist is accurate, especially when you are looking to invest in them off the back of the data you are analysing.

Ultimately, whether or not Chartmetric is the right tool for your record label depends on your individual needs and goals. But with the large amount of data and comparison tools it offers, at least having it as one of a few tools you use is definitely worth considering.

If you’ve found this relevant and helpful, visit Instrumental to see how we can help you further grow your label!