Immensity is an intelligent marketing analytics system that uses AI and machine learning to calculate Return On Ad Spend (ROAS), and figure out which marketing campaigns are actually driving consumption and revenue.
The following comes from Immensity for Artists, a company DMN is proud to be partnering with.
Over the past decade, Immensity’s Co-Founder & CEO, Nick Minicucci, has gained significant exposure into how musicians and teams operate as well as how machine learning is impacting various industries. He graduated music school and joined several local bands, one that signed with APA, and did some heavy touring for 6 years. In addition, he has been working around artificial intelligence and machine learning technologies since 2016, most notably working at MIT for 3 years where he was project manager on a multi-million dollar AI education research study.
“Machine learning and artificial intelligence has permeated the music industry in some really fascinating ways, but there are still massive issues surrounding data” says Nick. “This isn’t really a unique problem, data is growing rapidly and causing difficulties pretty much everywhere, but other industries have seen further advancements in AI/ML-driven technologies that are addressing some of their data problems. That, plus the many disparate and antiquated datasets the music industry has to deal with, definitely opens up an argument that the music industry might have it a little worse than some others right now.”
“Metadata, royalties, streaming data, social media and marketing data… there are pain points in every area,” Nick continues. “There are incredible tools out there starting to solve some of these issues, but there is a serious lack of intelligent tools addressing some of the others. Particularly, issues surrounding some of the biggest datasets in the industry right now – social media, digital marketing, and streaming data, and the mystery of attributing growth in one area to activity from another. Platforms don’t talk to each other well, data is siloed, so it’s difficult to understand what digital channels or campaigns are actually helping an artist stand out in an ocean of content and maximize growth/ROI”
For decades record labels were focused on quality over quantity – get one hit and everything else could fall into place. Quality is still a necessity and always will be, but now quantity is too. Optimizing that quantity is integral, and we’re seeing a pretty steep increase in quantity.
“Immensity solves several challenges that labels and artists face. The platform turns data into tactical take-aways, provided on an artist by artist basis. It allows for quick access to correlative, causal, and predictive analysis without any interpretation needed by research and insights professionals. It can scale easily to an entire roster, and it’s affordable – perfect for label/artist budgets.”
-Larry Mattera, Former Label Executive / Immensity Advisor
Just a few years ago, there were 8 million creators on Spotify, now there’s 11 million+. There were 40,000 songs getting released per day, now there are 100,000.
Every artist has unique qualities and the digital strategies that work for one won’t work for another.
How can you possibly optimize and solve for this level of quantity and diversity?
This is the exact issue that Immensity is tackling. They bring a modern, data science-backed approach to this massive pile of data that every label, agency, artist or team has to deal with and helps each one understand what campaigns are truly moving the needle.
“Immensity helped our team identify that several social media content activities that appeared to be ordinary were driving significantly more traffic to DSPs than content we were originally focused on. It has changed our approach to future campaigns. I’m excited to share these learnings with fellow managers, promoters and merch companies to help increase conversions on their social commerce marketing.”
-Randy Nichols, CEO, Force Media Management / Immensity Advisor
An example of the information you’ll get from the Immensity system is something like this –
“Your ROAS (active streams per $1 spent) is higher around 2 specific marketing campaigns on TikTok than almost every other campaign ran across Meta, Google, and X. Even though the amount spent on those 2 campaigns was significantly lower, the others have reached a saturation point. To maximize streaming consumption on your upcoming album release, you should reallocate X% more ad budget to TikTok”
This example is a paraphrase from an actual analysis for a band, We Came As Romans. Immensity teamed up with WCAR and Hyperculture Marketing Group to analyze 12 months of paid campaign data and identify which campaigns had been driving the most consumption for WCAR so HMG could optimize ad spend and strategy for an upcoming album release. You can read more about this analysis in Immensity’s joint case study with WCAR and HMG here.
“Attributing growth in streaming consumption back to paid media has always been a bit of a black hole in data / marketing analytics…Immensity was able to not only bring clarity to the consumption data to confirm the hypothesis, but saved both Hyperculture, the label & management team immense amounts of time…The return on investment here was unbelievably clear”
-David Puckett, Founder & CEO, Hyperculture Marketing Group
“Our mission at Immensity is to both democratize modern and intelligent data science for smaller teams, and also help larger organizations power-up and scale their AI/ML efforts,” says Nick Minicucci. “The Immensity system is set up really well to do both of these things and help the whole music industry optimize time and marketing budgets.”
Read more at immensityforartists.com, and reach out to learn more about their enterprise marketing analytics.
