Twitter Gains Competitive Edge with Real-Time Music Charts
Twitter has taken its reputation as the pulse of the planet a step further with the announcement of the impending launch of its real-time music charts. The second largest social network in the world will now be partnering with Billboard to track the popularity and longevity of songs and artists based on Twitter conversations and tweets. According to Twitter’s head of music Bob Moczydlowsky, this new chart aims to “create the new industry standard for tracking and surfacing the conversation around music as it happens”.
An evolving music industry
This partnership and the launch of Twitter’s new chart is no surprise, as so many aspects of the music industry have evolved along with the explosion of social media; it was thus inevitable that the ways of measuring the success of artists and songs would also change to suit. The real-time music chart, which will be published on billboard.com and shared on the @Billboard and @TwitterMusic profiles, is a brilliant idea for the social network – particularly given that more than a billion music-related tweets were sent out in 2013 alone.
A relevant and timely decision
Considering the music-centric nature of so much of Twitter’s user-generated content, this new chart also represents a means of getting recognition for the musicians and other members of the music industry who are actively promoting their music via Twitter. It’s also an ingenious way of encouraging artists to employ Twitter as a marketing tool and to increase their level of activity and fan engagement.
Following its similar partnership with Nielsen to rank TV programmes, there’s no doubt that this move by Twitter is evidence that it will continue to maintain its competitive edge through strategic partnerships and ongoing innovation.
What does this mean for businesses?
So does Twitter’s new chart have any implications for businesses outside of the music industry?
As it’s expected that the real-time music rankings will increase the activity and engagement of high-profile users, Twitter has further strengthened and consolidated its position in the social media hierarchy. This means businesses need to find new and creative ways of developing a strong, active Twitter presence.
Just as Twitter is staying ahead of the curve, businesses need to keep up with the hottest social media trends. If you’d like to learn more on how Twitter’s in-the-moment appeal could benefit your business, contact us at Point and Stare today.