As we noted a few weeks ago, Twitter introduced charts for its #Music product. The company’s intentions for the service aren’t known, and it seems like they’re taking somewhat of a public beta approach with it. Having said that, before the service launched, I noted that it could be the next “Top 40” phenomenon.
To compile meaningful charts, a huge chunk of data is needed to make them meaningful. It goes without saying that Twitter has more data than it knows what to do with, and #Music is a public showcase of what it’s capable of doing. I don’t think of Twitter as a “media” company, but rather a meaningful social data company. If you think about the impact that charts make on every vertical that has data to create one, it’s a huge business opportunity for Twitter.
Charts drive usage, conversation, publication mentions, sales and, most importantly…
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