Spotify’s new dashboard
Spotify has a dashboard that makes it possible for musicians as well as their managers to track the success of their album releases and tracks, and to also view essential data on their fans. However, they have decided to introduce the first ever analytics tool for music producers. This tool will be launched into beta, and will make it easy for publishers to keep track of daily streaming stats, playlist performance, and also view data on all the songwriters available on their roster.
While making the announcement, the company stated “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. Spotify Publishing Analytics is the first analytics tool from a music streaming service built specifically for publishers, so they can better serve their songwriters.”
The platform involves a lot of collaboration with partners like Reservoir and BMG, who also provided their own statements about the launch. According to Spotify, the platform was designed to provide value for publisher’s responsibilities, starting from A&R, down to administration.
The tool won’t really affect publisher’s royalties for now; it will only focus on providing sufficient data.
Performance on Spotify playlists
It provides useful insights into streams according to song, recording and songwriter; the performance of songs that get on Spotify playlists, how to view all the versions of a particular song, and how to export metadata down to the internal systems for analysis and archiving.
According to the person in charge of Publishing Relations & Services, EMEA and APAC, Spotify, Jules Parker, “One of our core missions at Spotify is to enable creators the opportunity to live off their art,” she also added that “The publishing community is integral in supporting the songwriters that create the music we love.
More information means more power
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 opportunities we can help create for songwriters.”
Patrick Joest, of EVP Global Content Partnerships & Synch, BMG, also stated that this new streaming data can help them gain new insights into how to create new opportunities for their songwriters, and find a more efficient way to collect royalties for them.
First of its kind for streaming services
According to Spotify, this particular analytics service is the first of its kind for publishers, but as stated by Musically.com, others like Kobalt, Songtrust and Socan were already in existence. However, it is actually the first of its kind from a steaming service such as Spotify.
America’s new copyright law
This new service is coming in the wake of a significant amendment in America’s copyright law (the Music Modernization Act), which has a huge effect on music copyrights and streaming services in particular. It is designed to bring music copyright law into the digital age; it alters the manner for payment of royalties and makes it easier for music creators to get the money due to them.
Supporting artists and the entire music community
Spotify wants to build an image where they’re seen as a streaming service that supports artists and the music community in general, which is why they have been putting things in place to make that happen, rather than just concentrating on consumers.
New tools coming soon
They’ve also launched facilities such as their playlist submission tool, the Co.Lab event series, aimed at enlightening musicians about this industry, a means of uploading music directly, and they also have plans in place to provide cross-platform distribution tools through Distrokid, where they have investments. In addition, they now display the songwriter’s credits and celebrate producers and songwriters via their special Secret Genius program.