Universal Music Group has partnered with Havas Media Group for a new way to generate cash flow from artists, reports Ad Age.
The world’s largest music label has joined forces with the marketing company to mine data collected every time a consumer streams one of their artists music, follows them on social media, etc. Billed as the Global Music Data Alliance, the partnership will officially launch at the Consumer Electronics Show in Las Vegas this week. As of now it is unclear exactly how the label will translate collected data into money.
Vincent Bollore, chairman of Universal’s parent company Vivendi, is the driving force behind the collaboration. His son, Yannick, is the chairman and CEO of Havas. “This Global Music Data Alliance will allow our clients and other brands to further expand their common passion for music with fans, and create deeper experiences for them,” Yannick said in a statement.
The goal of the alliance is to “find new revenue and marketing opportunities” for UMG artists by increasing efforts “to realize previously untapped revenues from consumer brands and other new business partners,” the label’s chairman Lucian Grange said.
While UMG already measures streaming, airplay, and social media through Artist Portal, working with Havas opens the door to targeted marketing opportunities for artists on the roster which includes the likes of Kanye West, Lady Gaga, and Mariah Carey.
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