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How MIPs Compete For The Top Songs & Talent On Music Xray

Posted by Mike McCready | October 8th, 2015 | No responses

It’s understood that musicians compete on Music Xray for industry opportunities, but it’s not quite as intuitive to understand how industry professionals on Music Xray compete for the top songs and talent.

While all industry professionals can use Music Xray’s advanced search tools to find songs and talent for their opportunities, the only way to guarantee they will hear and consider a particular song is to submit it directly to them. That is also the industry’s preferred method of discovering music – they want it to come right to their ears via their Music Xray inbox.

As a result, Music Xray gets a lot of requests from industry professionals to feature their opportunities more prominently on the site, or to feature the opportunity in one of our email blasts, or to promote it via our social media channels. So, I thought it was a good time to explain how we decide which opportunities get the most visibility on Music Xray and the decision making process around it.

When determining which opportunities to feature, we consider four things:

1. Attractiveness of the opportunity. Opportunities with higher dollar payouts get more visibility than opportunities with lower payouts.

2. Proximity to the decision maker. We give higher visibility to opportunities where the industry professional who lists the opportunity is the decision maker, works on the decision maker’s team directly, or has some involvement in the final decision. If the industry professional will be pitching the selected songs and acts to someone else for consideration, the opportunity will get less visibility.

3. Past success with Music Xray artists. Industry professionals who can point to past success stories with Music Xray musicians will receive higher visibility for their opportunity listings on Music Xray.

4. Submission fee price. All else being equal, we give more visibility to opportunities with lower submission fees.

Here’s why.

Let’s say there are two nearly identical sync license opportunities listed on Music Xray. Let’s say both are looking for romantic love songs. Let’s say both are for big movies. Let’s say both have a $50,000 payout and let’s say both of the listing professionals are the final decision makers in the process. But opportunity A has a submission fee of $10 while opportunity B has a submission fee of $20.

Why is it better for Music Xray to give more visibility to opportunity A?

Keep in mind that Music Xray’s job is to be a filter for the industry. We help the industry find the needles in the haystack. But, we can only find the needles in the portion of the haystack we can access. With a $20 submission fee, fewer musicians will put their music into our system, meaning we might miss some great music. Or, perhaps the musician only had $20 to spend on Music Xray that week. From a filtering perspective, we would rather they be able to take two shots for that amount rather than one – and we’d prefer to have two songs come onto the platform rather than one.

Another way to look at it is that the industry professional with the $10 submission fee is essentially telling Music Xray that they are willing to do more screening at a lower cost than the professional with the $20 fee. All else being equal, both the musician and Music Xray are getting more value from the professional with the lower fee.

By creating an eco-system where competition on both sides is key, we’re able to keep costs low and efficiency high.

Selection Prediction On Music Xray

Posted by Mike McCready | June 26th, 2015 | 3 Responses

See the video announcement!

We’ve come up with predictive data model that is over 90% accurate. That is to say, if we tell you your song is 84% likely to be selected for an opportunity on Music Xray, we say that with over 92% confidence.

Explained briefly, the Selection Prediction calculation presumes a song will be submitted to at least 20 opportunities on Music Xray and that the submissions will be done intelligently and realistically. That means, our calculations presume, for example, that rock songs will not be submitted to opportunities seeking EDM, female singers won’t be submitted to opportunities seeking male vocalists, etc. It also presumes submissions will go to a variety of opportunity types.

Keep in mind that labels sign only a few bands per year, whereas music supervisors license many songs per month. Submitters shouldn’t make only “long shot” submissions but rather take aim at a variety of opportunity types.

Selection predictions are based on a number of calculations and high scores are not a guarantee of a track to be selected. Low scores do not mean a track will not be selected. In fact, we’ve seen tracks selected for opportunities that according to our data would have only had a 10% chance. Selection Prediction scores are meant to help you decide which of your songs should get more of your time & effort when it comes to pursuing opportunities.

Variables that shift and that depend on the submitter include a ‘best practices’ submission strategy and continuously shifting market variables such as the number of available opportunities that are appropriate for the track.

We re-calculate every few weeks so that the probability of a song being selected reflects the current state of the variables mentioned above.

Continue reading for more information…

Music Xray observes every touch-point between many of the industry’s top
professionals and the songs and acts they react to every day. We’ve been doing it for over 5 years and in that time we’ve accumulated a lot of data.

We’ve observed things such as:

  • The average number of songs each professional tends to hear before selecting one for their opportunities.
  • The minimum ratings on criteria such a composition, production, arrangement, performance, and hit potential that selected songs have received.
  • The correlation between the ratings songs are given by professionals and the likelihood a song will be selected for an opportunity at all.
  • The average number of “intelligent” submissions required for songs receiving specific ratings to be selected for an opportunity.

How we compute the percentage

We’ve plugged our data into Amazon’s Machine Learning platform and we’ve been able to make some very interesting and accurate predictions about a song’s potential performance on Music Xray.

By observing:

  • Your songs ratings
  • Your songs genre
  • Music Industry Professional acceptance and rejection rates

We’ve come up with predictive data model that is over 90% accurate. That is to say, if we tell you your song is 84% likely to be selected for an opportunity on Music Xray, we say that with over 90% confidence.

Maximizing Music Xray

Best Practices Submission Strategy:

Of course, it all depends on the submitter employing a “best practices” submission strategy. Submitters who do this will outcompete those who do not and thereby increase their song’s chances of garnering a selection.

A best practices submission strategy can largely be accomplished by applying common sense:

  • Don’t submit your song to opportunities seeking songs in different genres from your song.
  • Always fill out the meta-data for your songs including lyrics, artist bio, an image, etc…
  • Don’t take unrealistic shots. For example, don’t submit to a major label unless you’re confident you have what it takes to get on their roster – they don’t sign many acts and the ones they do tend to have significant traction.

The best way to make sure you follow a best practices strategy is to buy and read this book, published by former Columbia Records executive and hit song writer, Norman Dolph.

It’s short and to the point and it will save you a lot of time, money, and
frustration. It will help you out-compete those who choose not to read it.

Why might the likelihood change over time?

Music Xray is a dynamic site. These are some of the things that could change the likelihood your song may be selected:

  • New songs entering the site with especially strong ratings or especially weak ratings change the competitive landscape, making it easier or harder for your song to be selected.
  • An increase or decrease in the number of professionals seeking songs like yours. Fewer opportunities will increase the competition for the opportunities.
  • The selection rates of professionals with the opportunities (sync license opportunities tend to select many more songs/acts than record labels, which may only sign a few acts per year.

“There has been no genuine A&R filter in the industry… We are building that now.”- Guest Post by Jack Ponti

Posted by Mike McCready | February 23rd, 2014 | 27 Responses

This article was originally posted by Jack Ponti as a response to this pov piece written by Music Xray Co-founder & CEO, Mike McCready.

…………………

There’s a vast misconception concerning the way new music and talent is discovered in the new paradigm of the Internet.


Where are all the DIY success stories?

While it’s true that anyone can now simply create a web page, populate every social media site there is, and virtually self-promote and distribute music, the reality is that 99.99% of that music will only be heard by family and friends. If the rallying cry of “we can do it ourselves” were true, then why are there not thousands of success stories? Because the ability to market and promote inside a clogged bandwidth is virtually impossible. You can’t build critical mass. This also creates a big problem for the industry. There is no filter.

Now, one may say the lack of a filter, gate keeper, standard, etc. has allowed music that would have never been heard a chance to be heard. But by who? Surely not the masses. It’s most likely to be heard by only a few. Sure, now anyone with a song can go full-bore Internet crazy and do all the wonderful things that people claim will help build their career, but it’s just not true. Again, where are all the success stories?

The industry’s pre-Internet filter:

Pre-Internet, the music industry had a filter. Perhaps it didn’t work all of the time and I am certain some great music was lost along the way due to that filter. The filter involved the artist knowing someone with genuine access who could get their music to someone who could actually do something about it. The filter also involved a policy of “no unsolicited material”. Meaning it would not be listened to unless someone vouched for it.

There was a dual role in the no unsolicited material policy.

One, was it avoided deep pocketed and pointless lawsuits. If unsolicited submissions were allowed, someone could randomly send in a demo and then months later find some ambulance chasing attorney to file suit claiming infringement, hoping the label/artist would settle. But the primary reason for the policy was that if you allowed unsolicited material you opened the door to everyone on Earth who believes they have talent. And most don’t. The mountain of material that would have been sent in would have taken thousands of people to sift through. So yes, we more than likely lost some genius talent due to the restriction of that filter but we also found plenty as well.

The industry believed that if a known manager, lawyer, publisher, producer, etc. was presenting music, it must be somewhat good. Now granted, it sometimes wasn’t. But for the most part, it met a standard and certain level of professionalism. It also spoke of the artist’s, writer’s, or producers’s, own ability to hustle and get to someone with genuine access. It worked well, as evidenced by decades of music.

But I have always said, the next Beatles were in a basement somewhere and will never be discovered due to lack of industry access. I’m sure we missed out on plenty.

In my 35 plus years in this business, wearing every possible hat that you can, 99.99% of my success was directly due to a filter. I was hammered by one of my clients to listen to India Arie. My manager introduced me to Jon Bon Jovi. A&R men brought me countless projects in development. Lawyers made introductions. The list is endless.

So here we are in the Internet age. No filter, no gate keeper, it’s a free for all!

But what do you do to genuinely find exceptional talent? Google search “good music”? Good luck with that. YouTube? If you have a decade of time on your hands. Reverbnation, Facebook, Soundcloud, Twitter, sure there are a multitude of possible places, but none of this has been filtered.

Unfortunately without a filter, you have to sift through hours of horrendous music to find even a remote possibility. Why? Because just like in pre-Internet days, anyone who can play any instrument or remotely sing is now convinced they “have what it takes” and they just clog the bandwidth with music.

Even from a psychological point of view, pre-Internet, people somewhat filtered themselves, thinking (or knowing) they were just OK, and why bother. But with the proliferation of TV shows like American Idol, we are now in the “yes I can” stage. Though that is wonderful, it can also be painfully unrealistic. Then with the advent of sites like CD Baby, people assume stardom is around the corner. For some it is. For many it’s not. But the illusion is real and by having a web site and distribution, suddenly you are there, or so you think.

I am not condemning that nor making fun of it. It’s wonderful to share your music with people and even if that means sharing it with only one other person that is a success and should be applauded.

What’s needed?

However the heartbeat of the music business is new talent and there is a tremendous amount of undiscovered new and brilliant talent lurking out there caught in the miasma of a clogged Internet. Like I said, we missed some great talent along the way and truth be told, we are missing way more now.

A true and accurate filter will bring that talent to the forefront in rapid time. I salute and respect those who chose to go it alone, DIY, indie, whatever you chose to call it. But this business needs new talent and for those who want to be within that framework, they need to be discovered. Be it an artist, writer, producer; they need to have access and we, as an industry, need to access them or we’re all in trouble.

There has been a method of A&R research in place for over a decade now. It works very well, however it relies on spotting blips on the radar screen of something already in motion, something that has traction. Be it local or regional sales or radio airplay, it is already moving.

The same can be said for the recently announced deals with Twitter and Shazam moving into the label space. That is not discovery of talent, rather that is identifying moving targets after they start moving. The very essence of how Shazam works is you have to be searching for something you have already been exposed to. The same can be said for the concept of using Twitter as an identifier. Both are post, not pre.

There has been no genuine, and accurate, A&R filter in the entire industry to sift through the clogged space that we are currently subjected to. In order to do that properly you need to create the proper mechanism that is human based and software synergistic.

As you know, Mike [McCready of Music Xray] and I began in a highly acrimonious relationship, one of war. We have been speaking and meeting for months now, coming from opposite ends of the spectrum to find a genuine solution for the lack of a true A&R filter. We had opposing views but have come to agree. Chances are this is something monumental. I am convinced we are building that now.

The benefits to both the artists and the industry are enormous and I truly believe we can make a difference.

…………………….

Musicians can submit music to Jack Ponti’s Merovee records by clicking here.

Bring your best song on a CD to Music Xray Live at New Music Seminar in New York June 10-11

Posted by Mike McCready | May 29th, 2013 | 7 Responses

Musicians, songwriters, bands, & other music performing acts can bring their best song on a CD to Music Xray Live, an A&R listening room in The Gramercy Room at The New Yorker Hotel with live A&R reviews, feedback, and perhaps more at this year’s New Music Seminar in New York City June 10 – 11 at 10:30 AM.

A&R scouts from Atlantic, Republic, RCA, Virgin, Label Recruit, LOCAL VIBES, Glassnote, Razor & Tie, Robbins Entertainment, Island, and Columbia are all participating.

Learn how A&R’s think, how they react, how much of a song they listen to, what they listen for.

Learn how industry professionals leverage each others’ screening work, how great songs get discovered, and how to measure a song’s fan conversion costs.

Learn how A&R is changing, how the youngest scouting talent thinks about their jobs as A&R professionals. It’ll be the most informative session you attend all year.

Music Xray is offering all of our artist users who would like to attend New Music Seminar a 25% discount off registration rates.

That’s a savings of $100. Just enter code: NMSXRAY13 at
http://newmusicseminar.com/registration

New Music Seminar is a fantastic event, full of insightful panels, networking opportunities, and incredible live music.

The Ins & Outs of Submission Fees on Music Xray

Posted by Mike McCready | July 5th, 2011 | 4 Responses

The music business has changed in countless ways over the past decade. It’s only natural that the A&R / professional-talent-discovery process would change as well. None of what is written here is theory. It is working in practice and thousands of songs and acts are selected for opportunities.
Let’s remember for a moment what it used to be like for industry professionals:

A&R professionals limited their intake of new music to trusted contacts and their referrals. Even so, they listened to large amounts of music. They had to keep track of who submitted what, deal with overflowing and sluggish email accounts and/or stacks of CDs. Often, they were relentlessly pursued, hounded, called, emailed, ambushed and otherwise hunted down by almost everyone from whom they’d received music for their consideration. These and other issues involving legal concerns were precisely what led so many companies to actually close their doors to submissions from people with whom they didn’t already have working relationships. These inefficiencies and policies of not accepting unsolicited material shut out countless independent musicians, deprived the industry and audiences of some very worthwhile music, and created a community that operated, to a large degree, based on who you knew or could get access to.

The Music Xray Way

Music Xray has implemented a way that enables over 1200 music industry professionals (and growing) to open the doors of opportunity to independent musicians everywhere. Submission fees are an integral part of it but they do not exist as a significant revenue stream for any industry professional. In fact, many of them direct their fees to various charities. You can read more about that here.
The submission fees serve as a barrier to avoid submission overflow. The industry professionals on Music Xray can raise or lower the fees as needed to speed up or slow down the rate at which they are receiving submissions. Music Xray requires the professionals to listen to and attend to every submission. If they fall too far behind, we suspend their account and they loose the ability to use the highly useful A&R tools provided on our site. Due to the fact that they must attend to every submission, they cannot afford to receive so many songs that they can’t keep up. The fee-barrier helps them keep things manageable.

You participate in the A&R process:

The fee also requires the musicians to participate in the A&R process. If you see an opportunity on the site in which you are interested and you feel like your song is up to par, you will likely make the submission. However, if you weigh the cost of the submission versus the strength of your song and decide not to make the submission, you are in fact helping the industry pre-screen by taking your song out of consideration. If you don’t feel your song is strong enough, it’s likely the A&R professional would agree with you. By not submitting, you are increasing the chances of those who do submit, decreasing the amount of inappropriate music the professional must hear and making the A&R process more efficient.
By the same token, the fee helps the songs you do submit not be drowned in a sea of songs that other musicians have opted not to submit. The fees are a very useful tool in the pre-screening process.

What the fees are not:

Music Xray does not permit industry professional to use the fees as a significant revenue stream nor to pay for prizes in a contest-type scenario. Exceptions are made for professionals who use the fees to help offset the costs of screening and for industry professionals who are providing career coaching or song critiques. They should be paid for their time and expertise just as are attorneys, tax professionals and other types of consultants. We let them set their own price and we allow the market to determine if they are worth it.
Music Xray closes down accounts of professionals who are discovered to be hosting false opportunities. Our team vets each professional and each opportunity but we also rely on community policing. We enable our community of musicians to leave comments (positive and negative) on the profile pages of the industry professionals. It helps keep everyone on their best behavior.
Music Xray refunds money to submitters when too much time has gone by without a response (usually 45 days).

The responsibilities of the musicians in today’s music industry:

As companies have left the role of artist development, that responsibility is increasingly falling on the shoulders of the musicians themselves, their immediate business teams and their financial backers if they have them.
To be an artist (performer or songwriter or both) in today’s ecosystem requires you to think of yourself as a small business. When businesses spend money to develop new products and services they spend even more marketing and selling them. They make sure their customers get a taste. They spend money on advertising, they give away free samples, they spend money on trade shows, business trips, negotiations… In short, they spare no expense when it comes to getting the deals that generate the revenue and eventual profit.
Most musicians “get” that and they actually do those things. They just do them in the ways they’ve always been done – ways that seem free but actually have huge costs in time and effort which also translate to money.
Music Xray provides a place where you can get that done in a way that costs less in terms of both time and money. Music Xray is a money and time SAVER for you, not an additional cost. It should decrease the amount of money already spent trying to get deals and significantly increase the effectiveness of your efforts.

Circumvention of Music Xray’s platform

We understand that accepting submission fees is difficult for a process that seemed free in the past (but really wasn’t) so we know how desirable it can seem to want to avoid the fee and find another way to contact the industry professionals. Because this happens from time to time, some industry professionals on the site refuse to be identified. They get too many email submissions and it defeats the purpose of being able to use our great A&R tools that help them find what they are seeking and keep everything organized. Many of them just forward those submissions to us and we’ll contact you and suggest you use their Music Xray drop box and we will probably send you a link to this post (awkward!)
But it just doesn’t make sense to circumvent the system. Here’s why:
When you submit through Music Xray, you know the person on the other end is going to listen to the song and you’re not going to have to call-in a favor or pester someone to make sure that happens. Whenever you send an MP3 via email or a CD via the post you don’t really know for sure if they listen and then you find yourself either feeling crappy because you never hear back or feeling crappy because you have to call back and hound them about the song – and if you’re like us you probably hate being that person.
With Music Xray, you know that if they don’t listen, our community managers are just going to have to contact them to tell them we’re closing their account because they are not attending to their submissions. We have leverage you don’t.
So, if you are making submissions and not getting selected, you just have to live with the fact that your music isn’t grabbing their attention despite being listened to or you have to get better by maybe getting some professional critiques and some coaching – also available on the site.

This is not theory

None of this is theory. It is working in practice and due to Music Xray’s innovative A&R tools and platform, over 1200 industry professionals use Music Xray to conduct some or all of their A&R efforts and over 2500 songs and acts have been selected for opportunities  – and that’s just since February!