For label managers and music pros worldwide, having reliable information about local music markets is key when assessing their potential. Knowing in which countries the music taste of listeners and concert-goers matches the artists on your roster is so much easier with data. Luckily, with Viberate you can now research every country in the world in one place and in a matter of minutes.
We'll show you how to explore the preferences of a local market and determine its potential for the artists you manage using Viberate’s Country analytics.
➡️ We’ll use an example that you can adapt to your needs. Let’s say we work for a Dutch Electronic label that wants to explore market opportunities in Germany. To do this, we’ll explore the German music market.
While exploring trends and shifts in Electronic music, we were also interested in the biggest markets for Electronic artists. In the section Top Countries by Spotify Monthly Listeners, we were looking for neighboring countries with high potential. Finding out Germany is in second place was a good sign. (You can check out the entire process here.)
This is a good indicator that we should dive deeper into the German market and research the opportunities. These are the steps we’re going to take.
Then, scroll through the results, and click on the country’s name. This takes you to its Viberate Page. There, click on the ANALYTICS tab.
We can compare music markets of different countries and see how developed each is. In our case, we compare the Dutch and German music markets. We can see that Germany has more artists, venues, and events, meaning there’s more competition – but also more opportunities.
👉 As we’re already familiar with the Dutch market, we know it’s at the top according to the number of festivals, especially Electronic ones. The two countries have a similar number of festivals which is still a very good sign.
Scroll down to the section called Festival Overview. Based on this section, we can find out whether the German festival market has high potential for Electronic artists. The data is from past festival editions, but provides a good prediction of the future.
👉 We can see that 47% of all festivals in Germany are Electronic, which is very promising. Next are Rock and Metal festivals, with a combined 28% of the market. To the right of the pie chart, we can check which festival size is the most common. As Electronic festivals of all sizes are relatively equally represented, it means opportunities for artists at different stages of their careers.
To assess the market potential, check which genre of music people listen to the most online with Most Popular Genres by Music Charts.
👉 As seen above, Electronic music takes third place, after Pop and Hip Hop – 13% of all artists on the music charts overall in the last three months have been Electronic.
The metrics confirm that Germany is a market with high potential for Electronic artists. It’s second according to the number of Spotify streams for Electronic artists, Electronic artists are represented on the music charts (even though they don’t take first place), and there’s a high potential for festival performances.
Go to the search box and try this method on a local music market you’re interested in. Different sections can be more important in your case, so don’t be afraid to adapt the process to your needs.