In business, everyone knows that deals are negotiated on who you know and how well-connected you are. It also helps to be active in social networking and buzzing about industry news and developments. Well, it seems that the music industry has noticed the benefit in the social networking side of their industry, and they’re turning to social media sites to find the next big music star.
Billboard, one of the biggest music industry companies in the nation, recently decided to revamp and expand their ranking charts and utilize the popular social networking tools to rank artists. The new ranking system, called the Social 50, will take the most active musical artists on the social networking sites and rank them.
The ranking system will be an integral part in determining which artists get more play time and media press. It will look at the number of page views that the artists get. It will also analyze the number of fans that interact with the artists on a weekly basis and how many of that artist’s songs are played. Those artists are already ranked at Billboard, so this new system will simply enhance the findings.
The ranking will also use a formula to decide which artist is the highest ranking on the social networking sites. It looks as if it’s going to be an important component of the musician’s success if they interact with the fans. Since the formula will measure the ratio of fans to page views, the artists who are socially involved will of course get higher numbers. So theoretically, the more the musicians get involved, the more the fans will view their page and play their songs. The more the musician’s songs are played, the higher in rankings he receives and the more of the media spotlight he gets.
So it seems that in music too, it’s all in who you know!