“Social media analytics,” in other words — not exactly an innovative pitch. BUT, if trueAnthem plays its cards right, they could be looking at a broader market of helping companies chase BuzzFeed, The Huffington Post and other digital publications which aggressively tweak editorial strategy as per a given day’s viral topics.
That’s if they play their cards right. BuzzFeed’s team of data scientists has developed a ‘ViralRank’ algorithm that is crucial in helping the publication stay ahead of the content curve — generally with nostalgia and cute animals, as it were — while most old-line media still keep a religious divide between business (i.e. analytics) and editorial.
CEO Chris Hart says trueAnthem may be looking to contract with big-name publishers like Yahoo to develop their own viral strategies, although at this point, it seems the idea is to help these companies follow trends, rather than jump out in front. As usual, TechCrunch provides little insight about how trueAnthem’s platform differs from, say, Google Analytics, although trueAnthem has apparently pivoted from a music-content focus.
Analytics seems to be a hot-topic this week, as Heap raised $2 million from Y Combinator, SV Angel, Redpoint, William Morris Endeavor and other major investors for its social analytics platform, according to TechCrunch.
Once again, I think the most interesting player in this space is BuzzFeed and their team of content-scientists — that’s where Heap and trueAnthem would be smart to develop their own big-data strategies for creating viral content, rather than chasing Google Analytics and monitoring what is popular after the fact.
To put it in music terms, which trueAnthem might understand, it’s the equivalent of Frank Ocean — innovating, setting the agenda, making the news — vs. Miley Cyrus — shamelessly absorbing facets of hip-hop culture after they are cool.
But hey, we’ll see what happens with that VC money…