As the latest instalment of its Dissecting The Digital Dollar initiative, the Music Managers Forum (MMF) is delighted to announce publication of a new online guide aimed at helping artists and their managers capture the maximum value from fan data.
Written by Chris Cooke of CMU Insights in collaboration with MMF board members Lisa Ward (Red Light Management) and Tom Burris (ie:music) as well as Wicksteed Work’s Jessie Scoullar and Peter Mason, Digital & Social Media Solicitor at Russells, The Fan Data Guide seeks to break down the key data types that artists and their managers should be aware of and have access to, as well as advice about how data captured from music streaming, ticket sales, social media activity and affiliate partnerships can be harnessed to grow their business and enhance decision making.
The guide also raises pertinent questions about the ownership and sharing of data post GDPR, and offers a ‘Data Checklist’ that all artists and managers should ask of potential business partners before negotiating a deal.
The Fan Data Guide can be downloaded for free here.
Paul Craig, Nostromo Management & MMF Chair, said:
“Everybody knows how important data is, but very few know exactly how to harness it effectively. This guide is a fantastic and much needed resource for managers and artists which provides education and information about the current music business landscape and the many questions they need to be asking their business partners.”
Lisa Ward, Red Light Management, said:
“We all want to build and retain for our artists a digital fanbase – and therefore a data mountain – but not all of us have the resources, relationships or time to utilise it to the max, monetise it – if that’s appropriate – or efficiently spend against it. Hopefully this ‘Fan Data Guide’ can help managers meet that challenge.”
Tom Burris, ie:music, said:
“It’s really important for a modern music manager to have a decent working knowledge of the various platforms through which fans interact with artists and especially the data that they each capture. However, finding ways to navigate this sea of data can feel daunting. The ‘Fan Data Guide’ sheds light on some of the commonly used digital resources, gives advice on best practice, and helps managers identify where an artist’s audience data is and how it can be used to help inform decisions.”
Sammy Andrews, CEO Deviate Digital, added:
“You can’t be successful in the modern day music industry without accessing, understanding, utilising and – preferably – owning your data, in all its many forms. For many years I’ve been calling on managers to ensure data access and ownership is a part of any deal they make. That data can help you make more informed decisions on everything from touring and merch to advertising and partnerships. In an ever changing music business landscape owning or having fair access to your data can make or break your artist’s career. This ‘Fan Data Guide’ is vital reading for any manager or music industry professional who wants to bring their A game to their artists’ careers and campaigns.”
Dissecting The Digital Dollar is a series of reports, guides and tools from the MMF designed to help artists and managers better understand the ever-evolving digital music business, and the especially the impact of streaming on the wider recorded music industry.
Produced for the MMF by music business consultancy CMU Insights, the initiative started in 2015 and has so far seen the publication of two downloadable reports on music streaming, plus two separate guides – The Deals Guide and The Transparency Guide.
All have been collated into a single publication available for purchase here.
For more information go to www.themmf.net/digitaldollar.