The BPI is inviting its members to take part in a price survey with the tech start-up Into-it ahead of the launch of its Chrome browser extension this summer.
Into-it's extension lets fans replace banner ads with personalised music alerts on their favourite websites, keeping them up to date with the latest releases, merchandise and tours.
The survey of record labels will help Into-it understand potential clients would be willing to pay for serving music alerts to fans who have expressed their interest in an artist or a genre.
Into-it is a member of the BPI's Innovation Programme, which helps UK music start-ups introduce their products and services to labels to raise their profile and investment prospects.
“We've built our technology – our intention engine, as we call it – because of a book called The Intention Economy by Doc Searls,” said Into-it's founder Lee Henshaw. “Doc predicts the arrival of an economy in which customers inform the market of their intention to buy something so that companies can compete to sell it to them.
"We believe that record labels and online publishers have a chance to replace advertising marketplaces with intention-based marketplaces by asking fans what they're into rather than guessing."
Traditional online advertising methods are coming under pressure due to the decline of third-party cookies and the increasing use of ad blockers.
“The appeal to our labels of replacing banners with personalised alerts is an improvement in the effectiveness of their sales activation promotions,” said Leon Neville, director of insight and innovation at the BPI. “Artist and label engagement with superfans is becoming ever more significant, and Into-it's price survey will help them determine the true economic value of serving alerts to this key group.”
BPI member labels interested in joining the survey can contact innovationteam@bpi.co.uk by Friday, June 7.
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