UMG’s Ingrooves Music Group has been awarded a patent in the US that sounds pretty interesting: for “artificial intelligence automation of marketing campaigns“.
Stand by for patentspeak!
“The system identifies patterns in consumer media consumption using a statistical model which detects media IP assets demonstrating a high likelihood of realizing an efficient marketing opportunity. The efficiency of a marketing opportunity is evaluated using a statistical model based on the identification of customers who are most likely to increase the frequency with which they stream the assets after being exposed to them via a marketing action in addition to the projected costs of reaching this audience.”
In a press release announcing the patent award, Ingrooves boiled it down as an invention that “identifies audiences who have a high likelihood of deepening their engagement and becoming long-term fans of individual artists”.
The company is using this technology in its Trends Now service, but later this year will also apply it to “a new, proprietary ad-buying solution” in its Dispatch marketing platform.