Co-founder, Next Big Sound
Alex White spent two summers interning at Universal Music Group, but still he wondered, "How does a band go from playing in their garage to headlining a nationwide tour?" He set out to solve the mystery with data. Over $7 million in venture capital later, Next Big Sound is the leading provider of music analytics and insights, used by individual artists and multinational conglomerates alike. It pulls information from social media, Wikipedia and artist websites, as well as streaming platforms like YouTube, Spotify and iTunes, and crosses it with concert, press and demographic data. Next Big Sound predicted the success of Macklemore and Ryan Lewis years before they hit it big, and Billboard now publishes two charts based on the company's numbers.
"We now have six-plus years of data and trillions of data points and can finally build a statistical model of the music industry, as well as access a kind of 'social crystal ball' about which artists are likely be popular in the future," says White. The result, he hopes, will be a more transparent music industry. "Knowledge is power and the more data that's available to artists and the music industry, the better they are able to make smarter decisions and build long lasting careers."