When Pandora purchased music analytics company Next Big Sound in 2015, it was seen as a major win for the internet radio giant as it was able to track the popularity of its songs online and in social networks, and sell its analyses on to other companies.
Naturally though, competing streaming services soon stopped feeding it data, thus making Next Big Sound considerably less measured and authoritative.
Now, a more neutral platform is set to take its place. French startup Soundcharts has raised US$3.1 million in a Series A round from Alven Capital, Kima Ventures and Global Founders Capital.
Soundcharts uses music recognition technology to turn audio signals into data. Through hundreds of servers placed all around the globe, it lets users browse stations, see what’s popular, and compare artists artists with competitors.
It also uses Spotify’s API to track playlists, and show users when and where a track has been added, thus giving users a first-hand peek at new genre trends and buzz acts.
Just like Next Big Sound, Soundcharts tracks social analytics like Facebook likes and artist growth.
Soundcharts already has the industry tick of approval. Among the 250 companies which have signed up to pay a recurring subscription fee are staff at Universal Music, Sony Music, Warner Music, Believe Digital and PIAS.