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Gruvi investment pitch slides and slide notes for the investor day at startupbootcamp.dk
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- 1. fans for films The Gruvi app uses the Open Graph and Facebookʼs distribution tools make it easy to tap into the wisdom of your friends so you can discover, remember, find and share great entertainment experiences wherever you are.
- 2. How do you feel when you make a bad movie choice? Gruvi App Recommend films See what your friends like Never miss a great movie Letʼs face it thereʼs a lot of movies out there - most are are not your taste. So wouldnʼt it be great if there was a service that: 1. recommended movies to you based on your tastes 2. allowed you to see which movies your friends like 3. Helped to organize your night out to the cinema 4. sent you reminders so that you never need miss a good movie again Fortunately for you movie going is a highly socially influenced activity - the choices of the movies we see are affected by the tastes of our friends and peers and this is what we built Gruvi on.
- 4. Show me the money! This is all very interesting, but how do we make money!
- 5. Market Size Facebook ad spend by Film & TV Studios in Europe 2008 - €0 2009 - €35 million 2010 - €70 Million 2011 - €220 Million Facebook represents the fastest growing online channel for entertainment content marketing
- 6. Studio Challenges New films suffer from a discovery problem Large budgets are spent blindly No central community or social strategy Like all businesses the movie industry struggles to come to grips with the challenge of releasing new brands. In 2010 out of the 12000 films released in Europe, 850 were original screenplays. So movie marketers had to market 850 new brands. Put your self in the shoes of a movie marketing executive. You are responsible for spending a millions of Euros on marketing a new film. You spend it over a 3 month period, and you judge where to place it – TV, billboards, press – and lately Facebook But you have to spend it all before the film comes out – so you’ll have no market feedback to gauge traction. There will be no way of assessing the return on any particular investment. Your success will be measured only on first night sales. Does that sound hard? Well last year in Europe €1.5b was spent just like that.
- 7. For film marketing • Gruvi identifies the fans for new films • Encourages them to take action in the films campaign • Tracks relevant film fan business intelligence This is what we offer the film studios
- 8. So what’s our secret sauce? Community of fans with known tastes Movie metrics that matter 1. We find the fans early, get them engaged and do so at a lower cost. 2. And because we are monitoring their actions we can track that engagement through to ticket sales – and so deliver a credible ROI. 3. In fact we monitor awareness on Facebook and use that as a indicator for the effectiveness of all of marketing spend
- 9. REVENUE / USERS €250,000 TIME UK Mobile Home Ent Europe To get to break even in Europe we need €250k We will deploy this money to: •Roll out to UK •Integrating with DVD and VoD suppliers •Build location aware applications, for mobile, webTV. Gruvi will be with users whenever they are about to make a film choice. And what protects us from copy cats? It is the combination of the community and our great contacts into the industry.
- 10. Ben Johnson (Sales, PR and Operations) - has 4 years digital sales exp in the film industry both int and locally. James Hobbis (Product, Marketing and Technical lead) - was on the original build team for Lastminute.com and was formerly director of e-commerce at Fidelity Chuck Bergeron - (Back end) Founder of the creative firm http://hellocarbon.ca, logic & database-driven software engineer, musician, photographer, gamer, and web-whiz. Julio Santos (Front end and design implementation) - has a masters in software engineering with a focus on web and mobile development.
- 11. fans for films Ben Johnson James Hobbis ben@gruvi.tv james@gruvi.tv +45 313 7076 72 +44 7979 695 690
Editor's Notes
- Hi I ’ m James Hobbis, and along with Ben Johnson we have created Gruvi Gruvi is a film community in a Facebook application. It enables marketing managers from the big movie studios get fans for their films fast and to track the effectiveness of their total marketing spend. We will show you how hard the film marketer ’ s job is and how leveraging social media can help them in more ways than one. We ’ ll start by looking at movie industry’s movie marketing pain…
- Like all businesses the movie industry struggles to come to grips with the challenge of releasing new brands. In 2010 out of the 12000 films released in Europe, 850 were original screenplays. So movie marketers had to market 850 new brands. Put your self in the shoes of a movie marketing executive. You are responsible for spending a millions of Euros on marketing a new film. You spend it over a 3 month period, and you judge where to place it – TV, billboards, press – and lately Facebook But you have to spend it all before the film comes out – so you ’ ll have no market feedback to gauge traction. There will be no way of assessing the return on any particular investment. Your success will be measured only on first night sales. Does that sound hard Well last year in Europe €1.5b was spent just like that. What if I offered you the ability to identify the fans go nuts for your film? What if we encouraged their friends to come too? What if we could track this excitement before the film goes live?
- What if I offered you the ability to identify the fans go nuts for your film? What if we encouraged their friends to come too? What if we could track this excitement before the film goes live? If you talk to anyone in the film industry, they will tell you that this is the holy grail in movie marketing.
- We find the fans early, get them engaged and do so at a lower cost. And because we are monitoring their actions we can track that engagement through to ticket sales – and so deliver a credible ROI . In fact we monitor awareness on Facebook and use that as a indicator for the effectiveness of all of marketing spend
- Here are the movies playing locally. We put the ones you like first. It is easy to see the films that are popular with your friends. When you drill into a film the trailer runs and you can quickly see when and where it is on. Because you know which of your friends like the film, setting up an movie night is simple. The invitation appears in their inbox. Clicking on the link within opens up the event on their Facebook page. They can see who is coming, when and where and of course watch the trailer. You have made it very easy for them to decide to attend. We have made it easy for you to buy the tickets. Every time you buy tickets through Gruvi there is a chance that you’ll get them for free. Every time you do anything on Gruvi you reveal a little more about your film preferences, and we use that to recommend new films to you. Gruvi help you to socialize with your friends, avoid bad movies and never miss a good one again.
- This is all very interesting, but how do we make money!
- It’s as simple as a Facebook Fanpage but much more powerful. The film studios are already paying huge amounts on advertising and so and encourage users to their pages. They track success in terms of the number who click the ‘like’ button. And that COST PER ACQUISITION can be as high as 3 euros in the early stage of the campaign. We have created this the GruviTab. It sits within the fan page plays the trailer. It allows us to acquire fans more effectively, and deliver a clear ROI on the marketing spend because we can track the number of tickets that are sold.
- Every time a user uses the GruviTab they have to sign up to Gruvi to use the service. This introduces users to the Gruvi Community and as that grows our cost to acquire fans falls further.
- Facebook spend has risen from zero to €35m in just over a year In the UK & DK it sums to €6.2m Of course that is a small fraction of the total €1.5b but will continue to grow We expect to be able to win contracts to spend that budget, and because GruviTab can convert more cheaply than existing pages, and because of the effect of our community we will continue to be able to reduce the cost of conversion. Based on our projections we should be able to capture 25% to 50% of this budget for each of the major within 12 - 18 months of operations. In fact last week we sold this approach to a major distributor and we will be marketing 2 of their films in December
- Facebook spend has risen from zero to €35m in just over a year In the UK & DK it sums to €6.2m Of course that is a small fraction of the total €1.5b but will continue to grow We expect to be able to win contracts to spend that budget, and because GruviTab can convert more cheaply than existing pages, and because of the effect of our community we will continue to be able to reduce the cost of conversion. Based on our projections we should be able to capture 25% to 50% of this budget for each of the major within 12 - 18 months of operations. In fact last week we sold this approach to a major distributor and we will be marketing 2 of their films in December
- To get to break even in Europe we need €250k We will deploy this money to: Roll out to UK and Scandinavia. Integrating with DVD and VoD suppliers Build location aware applications, for mobile, webTV. We will look to expand into the USA towards the end of 2011. Gruvi will be with users whenever they are about to make a film choice. And what protects us from copy cats? It is the combination of the community and our great contacts into the industry. We will be everywhere where the users is making a movie going decision.
- Ben Johnson - has set up an online video network in the UK for the major film studios and has huge connections in the film industry at both the European and international levels James Hobbis – has been building complex web businesses for the lat 10 years, and was formerly director of e-com at Fidelity Chuck Bergeron - back-end Ruby programmer Julio – has a masters in software engineering with a focus on web and mobile development