When it comes to selling/marketing/promoting music these days, the more data you have, the better. This is why Spotify shelled out some major dollars this week to acquire Echo Nest, one of the Web’s premiere data collection/analysis organizations when it comes to music.
[I]mplicit with the Echo Nest acquisition is that Spotify believes data can help grow its business by putting the right music in front of the right people at the right time.”Music isn’t just about providing a large catalog of songs, but about understanding the context in which people listen to music,” Daniel Ek, Spotify’s Chief Executive, said in an interview. “When you wake up, you will want to listen to different music than when you go running, for example. The way to understand what people will want to hear is with data.”
Yep. Just another step towards the media knowing more about us than we know ourselves.
For even more information this deal, try the NY Times.