Music Audience Exchange
Music Audience Exchange is an American music technology company founded in 2014.
History
Music Audience Exchange (MAX) was cofounded by Nathan Hanks, Justin Mink,{{cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=421589327|title=Terms of Service Violation|website=Bloomberg.com}} Ryan Whisenhunt, Carlos Diaz,{{Cite web |last=Diaz |first=Carlos |title=What Brands Can Do to Maintain Culture While Reaching Their Diverse Audiences |url=https://www.adweek.com/brand-marketing/what-brands-can-do-to-maintain-culture-while-reaching-their-diverse-audiences/ |access-date=2023-03-30 |website=www.adweek.com |language=en-US}} and George Howard in 2014, with its headquarters located in Frisco, Texas. It also works out of offices in New York City and Culver City, California.{{cite web|url=http://dallas.crains.com/article/news/frisco-startup-max-drives-brand-engagement-through-power-music|title=Frisco startup MAX drives brand engagement through the power of music|date=5 November 2017|website=Dallas.crains.com}} Hanks is the company’s CEO.{{cite news|url=https://www.dallasnews.com/business/technology/2017/03/02/music-matchmaker-plano-startup-connects-brands-bands-raises-6-million|title=Music matchmaker: Plano startup that connects brands and bands raises $6 million|date=2 March 2017|newspaper=Dallas News}}
Artist matching
The company engages with bands in order to represent them with large companies or organizations that are targeting specific local demographics,{{cite web|url=https://www.bizjournals.com/dallas/news/2017/03/06/this-startup-is-rocking-marketing-for-the-countrys.html |title=This startup is rocking marketing for the country's biggest bands and brands|website=Bizjournals.com|access-date=22 November 2021}} working as a coordinating agent between the artists and companies.{{cite web|url=https://www.thedrum.com/news/2017/03/09/music-tech-the-new-music-industry|title=Music tech is the new music industry|publisher=The Drum}} Offers from companies are provided to artists, who have can accept or decline the terms. As of 2017, MAX was tracking 2.4 million artists within 900 genres, categorizing fans of each into around 200 different demographic categories. Companies and artists are introduced to each other via the company’s Artist Matching Engine, which utilizes neural networks to map music tastes onto variables such as demographics, psychographics, and purchase behavior.{{cite web|url=https://www.billboard.com/articles/business/8308252/new-tool-aims-connect-brands-artists-based-on-music-tastes|title=New Tool Aims to Connect Brands and Artists Based On Fans' Music Tastes|publisher=Billboard}} MAX also creates marketing campaigns and live experiences for audience members.{{cite web|url=https://medium.com/mit-initiative-on-the-digital-economy/planning-tomorrows-platform-markets-today-429614021804|title=Planning Tomorrow's Platform Markets Today|date=8 August 2018|website=Medium.com}}{{cite news|url=https://www.dallasobserver.com/music/frisco-company-music-audience-exchange-takes-modern-approach-to-promoting-artists-10354288|title=Frisco-Based Music Audience Exchange Wants 'To Shake Things Up in Music'|first=Eric|last=Grubbs|date=12 February 2018|newspaper=Dallas Observer}}
Finances and clients
In 2017 MAX received $6 million in financing{{cite web|url=https://www.socaltech.com/music_audience_exchange_looks_to_grow_engineering_in_la_after_funding/s-0069991.html|title=Music Audience Exchange Looks To Grow Engineering In LA After Funding |website=Socaltech.com}} from MATH Venture Partners and KDWC Ventures,{{cite web|url=https://techcrunch.com/2017/03/02/music-audience-exchange-wants-to-get-musicians-paid/|title=Music Audience Exchange wants to get musicians paid|website=Techcrunch.com}} for a total of $9 million.{{cite web|url=https://www.xconomy.com/texas/2017/03/02/the-right-tune-marketing-startup-music-audience-exchange-raises-6m/|title=Xconomy: The Right Tune: Marketing Startup Music Audience Exchange Raises $6M|date=2 March 2017|website=Xconomy.com}} Companies that MAX has worked with include Twix, Jack Daniel's, McDonald's, Wal-Mart, Coors Light,{{cite web|url=https://www.forbes.com/sites/melissamdaniels/2017/06/09/streaming-concerts-is-the-new-gateway-for-brands-into-music/#44f5b76717e8|title=Streaming Concerts Is The New Gateway For Brands Into Music|first=Melissa|last=Daniels|website=Forbes.com}} Ford, and Dr Pepper.{{cite news|url=https://www.npr.org/2017/01/17/509851163/in-an-ever-changing-music-industry-cash-for-hits-remains-a-constant|title=In An Ever-Changing Music Industry, Cash For Hits Remains A Constant|website=NPR.org}} The company also hosts artists for live performances in its offices.{{cite news|url=https://www.dallasobserver.com/music/ron-bultongez-from-american-idol-loves-plano-and-has-an-ep-dedicated-to-the-city-10721722|title=American Idol Contestant Ron Bultongez Dedicates His First EP to City of Plano|first=Eric|last=Grubbs|date=24 May 2018|newspaper=Dallas Observer}}