BeatMatchedShare, Explore & Connect with Music Opportunity execution project
Team Beatmatched & Our MissionBrought together by a similar interest in web-based technology & thedesire to create a product with a positive impact on our users, our teammet online via Stanfords Technology Entrepreneurship course.Together we are developing a free platform that makes music sharingeasier, more organized, visually appealing & socially interactive. Weare all passionate about music & believe that people connect over themusic they enjoy.To make meeting people with similar interests easier, we created aunique "beatmatching" system that takes the users posted youtubelinks & suggests other users who have posted the same songs, artistsor genres.
Prototype Development We are currently developing our beta site which will offer the basic features of music organization & sharing. Users will soon be able to create a profile & post songs to albums that group songs together. By visually organizing music we hope to make a better user experience.
Market Research & User FeedbackThrough the peer review process of our past presentations, surveys &face to face interviews with our focus groups we have revised ourbusiness model.-Where we once focused on creating a dating site, we are nowtargeting music exploration, allowing the user to contact each other &naturally develop relationships-Based on critical analysis from 5 successful tech entrepreneurs we willbe focusing on creating a mobile interface that will allow us to competewith the current companies who offer similar services-We received very positive feedback for a service offering reduced feeticket purchasing which we plan to offer
Sales & Marketing StrategiesOur initial revenue will come from advertising only & thus we will needto develop a large user base. Using a free to join model we will attract& build traffic for CPM ads.We have created accounts with the primary social media platforms toreach our target demographic which is males & females age 18 - 30.Twitter - www.twitter.com/beatmatchedtwitFacebook - www.facebook.com/beatmatchedofficialOnce our beta site is live we will launch promote these pages publically& encourage users to visit our site by purchasing advertisingcampaigns via Facebook, Linkedin & GoogleAds.We will also actively post to music blogs and submit press releases toprint & digital publications such as Wired.com.
Distribution & CostAs our product is based on sharing content online we will integratesocial media sharing links that will distribute our product to our userscontacts.For example: When a song is shared on our site the user is given theoption to share the link on Facebook or Twitter. Once the link is postedit will redirect anyone that clicks on it to our site where they can viewthe content, but will not be able to interact until the join the site.This costs us nothing & is a beautiful example of word-of-mouthmarketing as well as user generated content. Our users are not sharingfiles so they system is legal & we will not pay for the rights to music.
Partnerships iTunes - Any shared songs will have a link to where the song can be purchased on iTunes. Android & Apple App store - Distribution of our mobile application to allow users to share and view profiles from their phone setting us apart from our competing websites. Facebook - We will develop a application with permissions that allow users to pull photos as well as search profiles for music preferences to help users effortlessly build a Beatmatched profile. SoundCloud/ YouTube/ MixCloud/ Vimeo - Content will be provided through these media sites and affiliate relationships developed to feature links back to our site.
Involved Risks By sharing YouTube links instead of paying for music rights, Beatmatched will avoid high costs and avoid illegal file sharing. Pros ○ Eliminate need to purchase rights to a large music database ○ User generated content from a continually updated source ○ Reduced risk of hacking & viruses Cons ○ Users will not be able to purchase or download music directly and ultimately will be directed to third party sites ○ Inability to control audio quality of the content posted
FundingBeatmatched plans to get funding from accelerator programs for earlyincubation and seed capital from the top performing platforms such asTechStars, Y Combinator, 500 StartupsWe will also reach out to VC firms that have invested in mobileapplications and social networking start-ups.Spark Capital - founded in 2005 ■ Focus: technology start-ups in media, entertainment, and mobile ■ Stage: Seed, early stage and growth capital investments ■ Typical amount invested: $250,000 to $25 million ■ Past companies funded: Tumblr, Twitter, FoursquareAltos Ventures - founded in 2001 ■ Focus: Social Media, Music/VIdeo ■ Stage: Lead institutional investor in early and growth stage ■ Typical amount invested: $1million to $3 million ■ Past companies funded: Pandora, Echo, Egreetings
Freemium Revenue Model Subscription Advertisement* * Beat - Free, restricted to * Display Banners 5 messages a month * Digital Video * BeatMatcher - $tbd with * Rich Media unlimited number of * Mobile messages Ticket sale Transaction fees * eTicket solo * Music purchasing * eTicket group - by * Mobile Music Streaming ordering at least 2 eTickets preferred price is offered* Advertisement - Number of members: 500000Despite economic uncertainty, internet advertising continues to show strong growth from the recession relateddecline in 2009.1Mobile advertising increases 95% in HY 2012 - Mobile advertising in the US totaled $1.2 billion during HY 2012.This is an indication of the importance of location to advertisers and mobility to consumers.1Informa expects streaming to be the fastest-growing mobile music service up to 2016. Music streaming will cannibalize full-trackdownloads and absorb much of the future growth in mobile-full-track users. 21 - PwC. http://www.iab.net/media/file/IAB_Internet_Advertising_Revenue_Report_HY_2012.pdf. Revised on 13/12/122 - Midem. http://www.midem.com/RM/RM_Midem_v2/2012/documents/pdf/midem2012-mobile-music-market-forecasts.pdf. Revised on13/12/12
Revenue ProjectionForecasting sources:Zenithoptimedia. http://www.zenithoptimedia.com/zenith/zenithoptimedia-forecasts-4-1-growth-in-global-adspend-in-2013/.Revised on 13/12/12Midem. http://www.midem.com/RM/RM_Midem_v2/2012/documents/pdf/midem2012-mobile-music-market-forecasts.pdf. Revisedon 13/12/124-traders. http://www.4-traders.com/LIVE-NATION-ENTERTAINMENT-13449/financials/. Revised on 13/12/12
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