Joshua Feinberg and Mark Bjornsgaard discuss the application of sabermetrics to the music industry, drawing parallels to the "Moneyball" phenomenon in sports.
Mark's first business, Artist First, used data to predict the success of music artists, similar to how "Moneyball" used statistical analysis to identify undervalued players.
They faced resistance from record labels, such as the Ministry of Sound, who were skeptical of data-driven predictions.
This reflects a broader issue where industry professionals struggle to accept data that contradicts their experience or intuition, as exemplified by the scene in the movie "Bohemian Rhapsody" where a producer famously overlooks Queen.
This video is excerpted from the podcast Ep. #40 Mark Bjornsgaard, Founder and CEO of Deep Green Technologies | Data Center Go-to-Market Podcast.
Outline
Artist First and Music Metrics
- Joshua Feinberg draws a parallel between "Moneyball" and the concept of disrupting professional sports with data-driven decisions.
- Mark Bjornsgaard shares that his first business, Artist First, focused on developing music metrics to predict the success of artists in the music industry.
- Mark mentions his admiration for Michael Lewis and the movie "Moneyball," which inspired his business approach.
- Joshua discusses a recent event where his hometown baseball team hired a data-driven executive to manage the Miami Marlins, aiming to build a sustainable and affordable team.
Challenges in the Music Industry
- Mark recounts his experience with Artist First, where they presented data to the Ministry of Sound record label to predict artist success.
- The Ministry of Sound physically ejected Mark's team from their building, rejecting the idea that data could predict an artist's success.
- Mark emphasizes people's resistance when presented with data that contradicts their intuition or experience.
- Joshua references a scene from "Bohemian Rhapsody" where a record producer famously passes on Queen, highlighting the reluctance to accept new evaluations.
Data and Resistance
- Mark and Joshua discuss the common theme of resistance to data-driven insights in various industries.
- Joshua mentions how the movie scene illustrates the consequences of ignoring data, leading to long-term regret.
- Mark agrees, noting that data can reveal uncomfortable truths that are hard for people to accept.
- The conversation underscores the challenges of convincing traditional industries to adopt data-driven approaches.
Resources
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