Informing brand acquisition strategy for an artist’s music catalogue
Testing key hypotheses and benchmarking performance for a leading UK restaurant brand.
Understanding needs
An entertainment company wanted to understand the potential value of acquiring a music catalogue of a famous artist. This value needed to be focused on assessing the current cultural relevance of the artist and therefore the likelihood that any investment would make a return through digital streaming revenue.
Connecting data
We collected over 20,000 conversations from various online channels. Using our unstructured data analytics toolkit, we then unpacked 4 key opportunity areas – including key emotions, songs and occasions. We also included a semiotic evaluation of images to understand cultural relevance through another dimension.
Driving change
An objective evaluation of the four opportunity areas brought to life the commercial potential of acquiring the artist’s catalogue. In particular, we highlighted which songs were still popular. And with our bespoke Topic Modelling we were able to provide compelling reasons for this – all using the language of consumers.
Using strat7.ai, we extracted 40,000 mentions and rapidly created a searchable data dictionary of shows to search through the unstructured text.
Craig Milligan
Global Head of Consumer Analytics & Insights | Decision Sciences, Diageo