Universal Music Group Uses Data and Analytics to Serve Artists and Audience
Universal Music Group (UMG), the largest music company globally, is leveraging data and analytics to enhance the artist-fan relationship and provide better music experiences. With an impressive roster of artists that spans from contemporary stars like Taylor Swift and Snoop Dogg to legends like The Beatles and Bob Marley, UMG is at the forefront of the music and entertainment industry.
UMG’s Chief Global Data & Analytics Officer, Naras Eechambadi, emphasizes the importance of data in understanding evolving music tastes and improving fan experiences. By utilizing data, UMG strives to provide artists with valuable insights into their markets and followers. Eechambadi explains, We see data as a vital element in helping our artists understand and build better relationships with their audience and listeners – their fans.
UMG focuses on two types of behavioral data. First, they receive data from major consumption platforms like Spotify and Apple Music, which provides insights into streamed music. Second, data gathered from individual websites and stores managed by UMG offers a deep understanding of fan engagement and artist fan bases.
Building a data-driven culture within the music industry presents its challenges. However, UMG continuously engages with its labels and functional teams to help them interpret and use data effectively. One notable initiative is the Fan Analytics, Marketing, and E-Commerce (FAME) dashboards. Introduced a year ago, FAME enables UMG’s labels and marketing teams worldwide to assess the success of marketing campaigns and direct-to-fan revenue on a daily basis. This tool empowers UMG to make data-driven decisions and identify opportunities for new products and campaigns.
UMG’s innovative approach extends to the FAN360 platform, which consolidates multiple data sources to create a comprehensive understanding of each fan. This allows the company to enhance the customer experience and develop new products and services based on fan preferences. Additionally, UMG employs sophisticated sales and revenue forecasting techniques, enabling informed investments in products and more targeted customer messaging.
Looking ahead, UMG plans to continue training its teams, improving data access, and fostering analytics proficiency. By leveraging data and exploring new technological advancements, UMG aims to enrich the musical experience and support the success of its artists, brands, and global audiences.
As fans and listeners, we eagerly anticipate the future of Universal Music Group and the positive impact of their data-driven mindset on the music industry.
