Is Pandora Radio missing out on a business opportunity? Not knowing anything about the recording industry I’ll admit I might have this all wrong but I was thinking that perhaps Pandora should be using it’s strength in data mining and analytics to sign new recording artists. It seems similar to the challenge that Netflix and Amazon are facing with licensing content… and have since gone after creating their own original content. I would think that Pandora could combine deep analytics and profiles for the music they play along with the demographics of their listeners and the data about likes and dislikes they provide to predict the next big artist or song that has yet to be discovered. They could then sign that artist themselves and license that music at a significant discount compared to what they would pay a current record label? Maybe they could even partner up with “The Voice” or “American Idol” to promote their up and coming artists?
Anywho, that’s what I talk about in this short video post that I recorded after thinking about on my way home from work tonight.