Havas Media Group global head of content Damian Marchi and Universal Music Group global head of new business Olivier Robert-Murphy closed the Thursday morning session of Festival of Media LatAm 2015 with a discussion about what is next for media and music, culminating in a performance by popular artist David Bisbal.
Marchi opened the session by questioning what the best vehicle is to cut through the noise to harness power or music, a question which led to Universal and Havas forming a partnerships due to their aligning beliefs.
He went on to explain that the partnership was differentiated from other partnership as the firms share a similar structure, allowing them to, in their opinion, bring more innovation to the table.
“We know that 97% marketers think music can strengthen their brand,” said Robert-Murphy, going on to discuss how personal music is. “86% of marketers feel that engagement is integral to their long term strategy and only 46% know how to measure it.”
Robert-Murphy welcomed the 4 Es – engagement, experience, exclusivity and emotion, with the emotion being the music.
“I can’t wait to see more projects done in the Latin American region,” he continued.
An example of a recent campaign which put music at the forefront was Rizzle Kick’s music video cover of Will Smith’s ‘Summer Time’ for Very.co.uk, which was aimed to help the brand reach a younger audience.
The music video had a twist – all the cast were wearing Very.co.uk clothes, and the video was shoppable, leading viewers straight to the item’s listings in the online shop.
Marchi said the project generated an increase of 64%. “It can really show you, when we tell you you can harness the power of music, this is it,” he added.
In order to progress this further by targeting and engaging consumers, the companies announced the Global Music Data Alliance to leverage the power of data and insights to create new opportunities and to create intimacy with consumers.
“There’s one word for that – data,” said Robert-Murphy.
“It all starts with collecting the data,” added Marchi. “The great thing about the relationship between an artist and their fans is it generates a lot of conversation.”
Then once the data is collected, the firms start segmenting it and making groups with that audience – age, geography plus segments about artists that groups like. “We mash all that together – as generic or specific as you like, make it available to partners” said Marchi. “The first thing you can do is match artists with brands.”
Robert-Murphy speculated that chief marketing officers currently spend more on IT than advertising.
Marchi said there are two things that could be done, firstly create more relevant content, work on a very large number of projects, take the music video and make it more relevant to person watching music video. He went on reveal that the company on working on making this run in real time, hopefully to be launched in 2016.
The second area being worked on is making more relevant targeting and activation, starting with insights to create more personalised experiences.
If a company knows that in three months a piece of content is going to be released, this new technology can predict the success of particular track to a particular audience three months in advance, allowing the firm to clear music rights before song is in heat
Marchi discussed putting the passion in to programmatic. “What do we really know about that audience – not much about their interest points, not much about their passion,” he said, elaborating that the future is in trying to take data and apply it to programmatic.
“Imagine you could programmatically retarget the people who not only like your product but the people who are listening to that artist on other platforms,” he said.
Robert-Murphy felt they need to ‘keep it classy’. “The end goal is that the artist generate new revenue through the data he or she creates,” he said.
The session culminated on a high, with David Bisball performing two songs for the assembled audience.