Band Metrics is a new web service designed to let you track and understand how your music is being promoted and used online:

RRW’s Richard MacManus notes:

Musicians will be able to get metrics showing them who’s listening to, sharing and talking about their music across various social networking and blog sites. A recent blog post from the company states that Band Metrics is using “a machine learning framework with natural language processing”. Some of the things that musicians will eventually be able to do with the app include trend measurement, sentiment analysis, reputation management, and “maybe one day scratching the surface of the behaviors relative to music.”

Band Metrics hopes to release their public beta within a few weeks. So far there have been nearly 7 million bands analyzed and 1.3 million songs. The number of songs is expected to expand 30-fold soon, after the company sorts out a glitch with its data mapping engine – which is “running into some conflicts deciphering […] misspellings and artist variables” of songs.

This looks like it could fill an important need for musicians and bands.

If you’ve had a chance to give this new service a try, let us know what you think!