Twitter is partnering with 300, Lyor Cohen's new company to provide information to the music business based on Twitter data. The partnership was announced by Cohen on February 2 at the annual Midem conference in Cannes, France.
Speaking to the New York Times, Cohen said, "There was a time not so long ago when we sold music to retailers and they sold to fans, but nobody knew who those fans were I’ve spent most of my life not knowing who the customer is. Isn’t that a shame?"
According to the Times, the partnership gives 300 full access to Twitter's music data, including location tags for where tweets originated. In exchange, 300 will help Twitter organize data and develop software that artists, labels and other brands can use. No money is being exchanged as part of the deal. Cohen told the paper the goal is to mine the popular social media service for seeking out new acts.
Bob Moczydlowsky, Twitter’s head of music, told the Times, "If you think of data as a product, having a customer who needs to make a decision will help us organize that data much better than if we tried to do it ourselves."