Google is perhaps the company with the biggest data base in the world. Virtually everything the company does is based on research and ability to pull data from as many sources as possible. On Wednesday, Google launched a new data driven tool for the live music industry called Demand.
So, what is ‘Demand’? It is a platform designed to identify the best and most appropriate locations for touring with the aim of optimizing ticket pricing. Demand can also enhance marketing and sponsorships around live shows. By so doing, Demand is able to give professionals from the live music industry access to aggregated data spanning Google Search and YouTube. The new platform will also be able to pull data from third party platforms including Pollstar.
“When fans decide they want to attend a concert, many start looking for tickets with Google Search. So we knew we could use publicly available Google Trends data to understand what people are searching for. From there, we layered in data from YouTube and Google Play to offer a barometer for sustained interest in an artist over time. Finally, we partnered with third-party data sources, like Oak View Group, to provide historical and current pricing, all with geographic specificity in more than 200 markets.,” Google said.
Google said it tested Demand for months, which enabled it to discover a lot about live music. “During months of testing, we found that the data was valuable for live music professionals and fans alike. In one example, when evaluating the tour schedule for a Top 40 artist, DEMAND’s data revealed that the artist did not price their tickets at market rate, which was leading to higher prices for fans in the ticket resale market.”
Google said the insights provided by Demand allows you to see how consumer brands align with specific artists based on search volume from the last 30 days. The result of course, according to Parag Vaish, Co-founder of Demand, can impact brand marketers, advertising agencies and media bookers who want to relate with cross-promotion opportunities.
Everyone in the music industry can use Demand, especially when it has to do with planning, marketing, pricing, and sponsorship of live events. Music fans meanwhile, can benefit by gaining access to the artists they love in concert, while venues and cities get to book the artists that locals want to see.
“It’s our hope that DEMAND’s data will nurture the rise of these new artists while creating opportunities across the live music spectrum.”
Demand’s data is being made available at no cost to everyone in the music industry in the US. To get whitelisted, simply sign up via https://demand.area120.com.