Hello Reader — Happy Friday!

We're thrilled to announce the ​release of our 2024 State of Data in the Music Industry report.

This is one of the most comprehensive surveys ever conducted on how the music industry collects, manages, and leverages data.

We received responses from 600 professionals across 6 continents and 12+ industry sectors, including recording, publishing, artist management, live events, and much more.

Why should you care about this report?

From creation and discovery, to distribution and monetization, data now permeates every aspect of the music business.

But is that data actually accessible, meaningful, and useful? In a noisy market, what does modern “data strategy” look like for today’s artists and industry professionals — and where do they most need help?

Key takeaways

Music data is abundant and diverse. Our respondents use an average of 3 different types of tools in their data operations — ranging from first-party streaming and distributor dashboards, to third-party market intelligence platforms, fan CRM tools, and in-house solutions.

But despite data's ubiquity, the music data that people actually want is still fragmented and expensive. In an organizational context, music data is often siloed, with only a few employees in key positions having access to data tools — even for in-house solutions. Cost is also a major obstacle, especially for smaller teams with limited budgets.

There was a pervasive feeling among our respondents of a "data arms race," with 59% of respondents expecting their company to increase data budgets.

Yet, over 40% of respondents are unsure about or unable to assess the ROI from their company's current data strategy. There is a lot of data acquisition happening without the proper contextualization — namely, understanding how the data being acquired fits into a company’s broader strategy to drive tangible, sustainable business outcomes.

Adoption of emerging tech solutions for music data remains limited. 40% of respondents use AI in their data operations, facing challenges including lack of expertise, high costs, and ethical concerns. Web3 adoption has decreased significantly, from 24% of respondents in 2023 to just 14% in 2024.

Meanwhile, notable gaps in data literacy and tooling persist across the industry. Only a third of respondents say their company offers data literacy training, and many still rely on basic tools like email and manual spreadsheets for fan data management. General-purpose CRM solutions are more prevalent than music-specific ones, indicating a lack of tools tailored for the industry's unique needs.

There's a clear opportunity for music companies to strengthen their core data foundations, providing a better base for future technological advancements.

Want the complete picture? Upgrade to a paid membership to unlock the full report — including insights on:

1. The modern music data stack, from streaming and distributor analytics to direct-to-fan services
2. Rankings of the most popular tools across the stack (some might surprise you!)
3. The definitive industry "data wishlist"
4. How AI and Web3 are shaping music data strategy

By joining our membership, you'll not only get this report, but also gain access to our entire archive of in-depth music industry analyses, databases, and educational resources.

Upgrade now and turn these insights into your competitive advantage. If you have any questions about our membership, reply to this email and we'll be happy to help!

ICYMI: Daily Music Data

Enjoyed the State of Data report? Follow us on Instagram @dailymusicdata for more bite-sized industry stats and insights.

Every weekday, we share one curated music industry data point, along with our brief analysis on why it matters. Our goal is to help you stay informed on need-to-know trends in the evolving music and tech landscape, with actionable insights you can digest in 2 minutes or less.

Recent stats we've featured on Daily Music Data include:

• Number of lawsuits filed against AI companies for training their models on copyrighted material
• Global ticket sales for K-pop shows in 2023
• Daily active usage habits for streaming super-users
• Role of YouTube and social media in music discovery
• Asia's outsized market share of physical music sales

Don't miss out on these essential stats — follow us now and boost your industry knowledge today.​