Pandora Looks To Expand Data Insight Via Acquisition Of Next Big Sound
In announcing the deal, Pandora described it as its latest step in partnering with the music industry, stating the acquisition “accelerates its strategy of harnessing data for the benefit of music makers”.
Next Big Sound, which launched in 2009, combines music consumption data into one centralised platform, providing data insights such as the relationship between social media and revenue and the impact of marketing and promotional events .
“The combination of Pandora’s listening data and Next Big Sound’s analytical capabilities will create a vital source of data,” commented Pandora CEO Brian McAndrews.
“Next Big Sound shares our passion for music and respect for those who make it. I’m incredibly excited to unleash the combined potential of our two companies and have the Next Big Sound team join us.”
Pandora stated Next Big Sound will expand its suite of data-driven products, the core of which is its Artist Marketing Platform, with Next Big Sound’s offering to also be enhanced via the addition of Pandora’s data on music preferences, patterns and trends.
“Pandora’s data reflects insights from nearly 80 million monthly active users who have provided more than 50 billion thumbs on tracks played,” Pandora stated. “Added to Next Big Sound’s current insights, the data-set powered by both companies will deliver an unprecedented trove of information to the music industry.”
The terms of the deal have not been disclosed.