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Digital Music News, using data from BigChampagne, attempted to answer that question using the example of Jay-Z, a relevant, touring artist with a massive catalog. Jay-Z has played lots of gigs, and has the best sense for what crowds want to hear. But online channels also offer some guidance, especially when multiple platforms are considered – in this case, MySpace Music, YouTube, and file-trading networks.
MySpace Music offers a considerable level of programming to its audience, and in the case of Jay-Z, positions the latest release (The Blueprint 3) most prominently. In the case of YouTube, the monitoring focus was the Jay-Z channel, a section that also leans heavily towards promotional and newer content. P2P may offer the purest indicator of demand, simply because users are entering searches cold. But those choices are still informed by outside media sources, prompting the move to acquire.
And the takeaway? Jay-Z is obviously pushing newer material, and shows are not just about memory lane. But, in the interests of mixing old and new, a number of older songs are must-plays according to the data. (Incidentally, plenty of songs feature guest artists and therefore call for tricky work-arounds in a live setting, though they are still incorporated here based on user demand.)

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