We’re forever being reminded of the number of UK start-ups that fail within the first five years. Incase you didn’t know, the number is over 50%. That’s over half. In other words, it’s a lot. We’re also forever reminding UK start-ups of the need to be more tech-based, with the Internet’s dominance in our lives just getting bigger and bigger. As consumers we want innovation, and we want devices that make our lives easier and more entertaining.
So it’s with this in mind that it’s worth highlighting and celebrating the fact that Apple, an American multinational corporation, have bought UK music analytics start-up Semetric for a reported $50 million to go along with their subscription-based online music streaming product, Beats Music, which will be available on all iPhones before the year is out, as well as the enduringly popular iTunes.
What Is Semetric?
Semetric use a tool called Musicmetric to gain a greater insight into a band’s sales. It gives clients working in the music industry the chance to learn more about their sales and social analytics, thereby improving the way they work. The company’s tagline revolves around the idea that intuition can take a music industry client a long way when it comes to knowing their audience – but analytics brings a degree of precision that simply can’t be matched. It calls itself ‘the world’s most powerful analytics dashboard.’
It’s a pretty big claim in a world where analytics start-ups are proliferating. Analytics aid with marketing, service, selling, pricing and so on. Think what this could mean for the music industry. Musicmetric uses facts to offer analysts with invaluable and feasible insights. Analytics tools like this help businesses work quicker and more efficiently, with analytics start-ups at the forefront of the techs world.
Apple’s Big Hope In The Start-Up
It’s Apple’s hope that the UK start-up Semetric will make a huge impact, not just yearly but daily. The company is known for buying a small start-up from time to time, and the purchase of UK-based Semetric is a sure sign that Apple is willing to invest in top start-ups that specialize in particular niches, such as media analytics, that allow them to gain a better understanding of the music industry they have already invested heavily in. Semetric’s employees will continue to work in London, but will now be contracted to Apple.