Rory Mudie RedboxMobile Music 4.5 The Music In-app Economy
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Innovating within a new eco-system What are the latest trends and developments? The IAP (in-app purchase) that’s prevalent in games and other apps, based on an understanding of the freemium model, is working so well in games – why isn’t it the norm in the music business too? What is the ‘formula for success’?
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Rory Mudie RedboxMobile Music 4.5 The Music In-app Economy
- 1. The power of mobile and location
- 2. The formula for success 2 © Redbox Mobile 2014 - Company Confidential
- 3. Thank you The End 3 © Redbox Mobile 2014 - Company Confidential
- 4. If you build it, they will come! WRONG App Stores are not “The Field of Dreams”, unlike in Kevin Costner’s epiphany if you build an app they DO NOT come. You have to work really hard to get app downloads. In reality, very little has changed in the way apps are made, apps are task oriented tools designed to fix problems. The app ecosystem itself has changed significantly. 4 © Redbox Mobile 2014 - Company Confidential
- 5. The three key ingredients Emotive 5 Engaging Addictive © Redbox Mobile 2014 - Company Confidential
- 6. The current trends If it’s successful remove it, you will make a fortune “Flappy Birds” 6 If it kills people, it spreads faster than a virus “Neknominate’ Customers are more savvy, Marketeers love buzz “Disruptive” You check your phone over 150 times a day “Personal” © Redbox Mobile 2014 - Company Confidential
- 7. Some golden rules Keep them in the same ecosystem “Familiarity” 7 Give them what they want at a price that makes you money and brings them back There must be a Value Exchange, and it does not need to be money Keep it subtle “A new form of subscription” © Redbox Mobile 2014 - Company Confidential
- 8. The payments landscape “One Click” iOS, Google, Amazon, BB Non Money, IAP, Downloads Advertising Credit cards, debit cards, Mastercard, Visa Landline Billing, Network Wallets, Games wallets Mobile Billing, MO, MT SMS, mPay Wap, PRS Billing Pay safe Cards, NFC, Beacons Paypal, MPesa, Bitcoin Ukash, Beenz 8 © Redbox Mobile 2014 - Company Confidential
- 9. The must dos Keep it relevant, and trusted “Security” 9 Be clever with your customer, cherish and value them “Loyalty” Pay as you go, create a value chain “Low price point” Relationships matter more than technology “Communications” © Redbox Mobile 2014 - Company Confidential
- 10. Thank you The power of mobile & location will transform the way you communicate to your customers Thank you for your time Rory Mudie 079 2000 1000