What it does:
* Collects data: It gathers information about music sales from physical stores, digital retailers, and streaming services.
* Tracks sales: It keeps a record of all music purchased, including albums, singles, and digital downloads.
* Provides rankings: Based on sales data, it generates charts that rank the most popular albums and songs.
* Informs the industry: Music labels, artists, and radio stations use Soundscan data to make decisions about marketing, promotion, and airplay.
Key Points:
* Owned by Nielsen: Soundscan is part of the Nielsen company, a global information and measurement company.
* Provides a standardized metric: It provides a consistent way to measure music sales across various platforms.
* Plays a significant role in the music industry: Its data heavily influences music charts and industry decisions.
Important to Note: The music industry is constantly evolving. Streaming services now play a major role in music consumption, and Soundscan is adapting to measure these trends.