Streaming music service Spotify just debuted Spotify Publishing Analytics, its first analytics tool built specifically for music publishers.
According to Spotify, this is their effort to take care of the needs of music publishers, a group that hasn’t been given the necessary analytics tool.
“We know that there are usually many more people involved in the creation of your favorite song than just the artist whose face appears on the billboard,” according to Spotify’s press release.
“One of our core missions at Spotify is to enable creators the opportunity to live off their art,” said Jules Parker, Head of Publishing Relations & Services, EMEA and APAC, Spotify. “The publishing community is integral in supporting the songwriters that create the music we love. With more information, publishers are empowered to make the most of the opportunities the global reach of Spotify provides, and the more information we can share with each other, the more opportunity we can help create for songwriters.”
The publishing analytics tool allows music publishers to track daily streaming stats, including playlist performance, and view data across all the songwriters on their roster. In addition, it offers insights into streams by song, songwriter and recording — how songs are doing on playlists; a way to see all the different versions of a song; and a way to export metadata to internal systems for further archival and analysis.
Spotify says that this new tool will be the first built specifically for publishers from a music streaming service, although, according to Musically.com, companies like Socan, Kobalt and Songtrust have already been providing publishers analytic tools, though not as a streaming service.
This move shows Spotify’s recognition of the fact that collecting data nowadays is more important than ever, especially for publishers, according to Patrick Joest, EVP Global Content Partnerships & Synch, BMG.
“Armed with this level of streaming data, directly from Spotify, music publishers can gain insights into new opportunities for their songwriters, more efficiently collect royalties on their behalf, and moe effectively market their works,” said Joest.
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