Data means big business for the music industry, and it means especially big business today for Soundcharts. The Paris-based data aggregation company has secured a seed funding round of €320,000 ($360,000) that it will use to become “the indispensable tool for all industry professionals.”
Soundcharts collects music consumption data from charts, airplay, playlists and social networks. It has real-time and historical options and breaks down results by territory.
Companies like Soundcharts have been of interest to streaming companies, either just for their services or as acquisition targets. For instance, Spotify purchased The Echo Nest two years ago and Pandora snapped up Next Big Sound last year. If Soundcharts does continue to grow its client base (which already numbers more than 6,000 and includes employees from the major labels) and expands its available services, it could potentially find itself the subject of some merger courtship.