Internet radio service Pandora Radio announced today that it has agreed to acquire Next Big Sound, a provider of online music analytic, for an undisclosed sum.
According to a Press Release by Pandora, this acquisition will provide Pandora with a powerful analytic tool used by tens of thousands of music makers, labels and marketers looking for data and insights about artists and their fans.
“The combination of Pandora’s listening data and Next Big Sound’s analytical capabilities will create a vital source of data,” said Brian McAndrews, CEO at Pandora. “Next Big Sound shares our passion for music and respect for those who make it. I’m incredibly excited to unleash the combined potential of our two companies and have the Next Big Sound team join us.”
“We are thrilled to be joining Pandora,” said Alex White, CEO at Next Big Sound. “In them, we’ve found a great partner who, like us, believes data has the power to transform the music industry.”
Next Big Sound will expand the suite of data-driven products Pandora offers music makers, the core of which is Pandora’s Artist Marketing Platform (AMP) that offers both Artist Insights as well as Artist Audio Messaging. Next Big Sound’s capabilities will complement these offerings, which are designed to help music makers grow their careers. Next Big Sound’s offering will also be enhanced through the addition of Pandora’s data on music preferences, patterns and trends. Pandora’s data reflects insights from nearly 80 million monthly active users who have provided more than 50 billion thumbs on tracks played.
According to Pandora, the acquisition will also benefit brands that advertise with Pandora by delivering access to insights that can help them identify artists to partner with and measure the reach and impact they achieve through those partnerships.
The acquisition is subject to customary closing conditions.
Launched in 2009, Next Big Sound is the provider of online music analytics and insights tracking hundreds of thousands of artists around the world. Next Big Sound gathers social, sales and streaming data into one central platform. Sources range from Facebook and Twitter, to Wikipedia, artist websites, Spotify, YouTube, and iTunes. To put this information into context, event data such as concerts, release dates, television appearances and press mentions are incorporated, as well as the demographic data that helps artists become better acquainted with their fan base. Next Big Sound is based in NYC.