https://twitter.com/austin_hurwitz/status/1691624246223503664?s=20
*https://x.com/ladidaix/status/1691860622001008951?s=46&t=ZVOXZBuAOMziCcTqFkYpXg*
Let’s go through the problems of the industry to have an overview of what is going on. It’s always better to have the full scope of the problem to understand the solution.
Music is the most consumed art, it is consumed by billions of people on a daily basis. But on the contrary, it is the least prolific in terms of revenues. Here are few reasons for that:
These are not all problems, but these are the ones that are related to Ampy’s scope.
Music is data driven.
Various tools are being used to centralize data and understand what works and what does not work. Artists need to understand their metrics about their streaming statistics over time, their social media influence/engagement and their direct sales.
Data is very often used to ship data-driven products/strategies but this data is fragmented and impersonal. Meaning artists are missing crucial pieces of data.
Music related products are widely spreaded across multiple platforms. You can listen to music through streaming platforms such as Spotify, YouTube or Apple music while buying albums on digital platforms like Bandcamp or Shopify. You can also buy your concert tickets from TicketMaster and then buy your merch directly at the concert. All of these actions occur on spread platforms, but could be done by the same music fan.
Unfortunately, artists have now way to determine that, and so can’t acknowledge it which leads them to not being able to segment and recognize their fanbase accurately. But most importantly, they can’t keep track of some crucial metrics for any effective business like : the LTV for each fan, average spending of fanbase, clear segmentation of fanbase, size of the active fanbase and many more.