NEWS5 October 2009

Investment for music buzz tracker Next Big Sound

Data analytics North America

US— Next Big Sound, which measures the online popularity of music acts to provide analytics and insight for band managers and music industry professionals, has secured funding from venture capital firm The Foundry Group.

The amount of the investment has not been disclosed.

Foundry managing director Jason Mendelson wrote in a blog post: “It has become apparent to us that the industry is craving data, metrics and reports that take into account the next generation of music consumers.

“The industry is in a state of flux with many different opinions about what ‘works’ but no one has quantifiable and usable data to defend their theses.”