Uploaded byKathryn Jones
VirtualArtsTV
The document proposes re-inventing the performing arts industry by making it global, interactive and live through an online platform called VirtualArtsTV. It notes that the $14 billion performing arts industry is struggling with declining audiences and revenues. VirtualArtsTV aims to introduce new revenue streams by live streaming multi-camera productions of plays and arts events online in an interactive format combining traditional performance, online video, social media and live streaming. It proved successful in a pilot project and aims to establish itself as a destination for live streamed performances and help other arts organizations do the same globally.
VirtualArtsTV
- 1. Turning the PerformingArts into an Interactive Global Event Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv
- 2. Business Overview • Re-inventing the performing arts for a wired twenty- first century audience so that it is Global, Interactive and Live Thereby… • Introducing new revenue streams to the $14 Billion performing arts industry In comparison, Americans spend ~$20 billion on sports admissions & ~$10 billion on movie box-office tickets. Source: Bureau of Economic Analysis, U.S. Department of Commerce Presented to StartUpOneStop, May 15, 2012 http://VirtualArts.tv pg 2
- 3. Opportunity: Performing ArtsMarket 14 Billion Dollar Industry in Crisis • Audiences are in decline • Employment lowest since 1990 • Administrators struggling to raise funds • Industry grappling with how to: • Cultivate new audiences • Create new revenues • Create more arts jobs • Incorporate new technologies Source: 1982, 1992, 2002 and 2008 Surveys of Public Participation in the Arts Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 3
- 4. Insights: Related MediaMarkets Online Video • Ad-spending expected to increase to 7 Billion by 2014 (eMarketer) Live-Streaming Social Media Digital Performing Arts • Viewership grew 650% • Reaches nearly 80% of in 2010 (Comscore)" • More Americans view or listen ac&ve U.S. Internet users to broadcasts & recordings of arts • 1.4 billion+ minutes on events than attend live (NEA) * • Frequent arts major publishers (Justin.tv, • ~40% used the Internet to view, attendees are most USTREAM, Livestream, LiveVideo & listen to, download, or post likely to be influenced Stickam) artworks or performances (NEA) by social media (LaPlaca Cohen) • Expected to double * live theater is sole exception as it is rarely revenues in 2012 available in broadcast or recorded form" Online Culture • 78% of U.S. adults and 95% of U.S teenagers use the internet (PewInternet 2012) Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 4
- 5. Conclusion: The audienceisn’t in decline, it’s online VirtualArtsTV First producers of interactive, live-streamed video plays A new model of online entertainment Multi-camera productions of live-streamed performing arts tailored specifically to a social, online video experience equal parts - traditional performing arts online video social media live-streaming event Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 5
- 6. Proof of Concept First Live-Streamed Interactive Video Play Better Left Unsaid TV– January 2011 Click play to be taken to highlights from Better Left Unsaid TV (1:38) • 3 performances – 50,000 unique live viewers • No marketing budget • Global, interactive audience • Viewers chose to pay more than they pay for a month of Hulu Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 6
- 7. VATV Competitive Advantage • A passion for the performing arts & digital media that has lead us to bootstrap innovations on live-streaming platforms since inception • Repeatedly produced successful firsts on the live-streaming platforms • Track record of bringing "impossible" projects to fruition Team Expertise Creative Product Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 7
- 8. Management Team Kathryn Jones– CEO David B. Cohen – Chief • Innovator on the live-streaming platforms Marketing and Sales Officer since their inception in 2007 • 20 Years in Advertising Industry • Produced first ever live-streamed web series, webathon and interactive video-play. • Former Communications Planning Director at OMD working on the Lowe’s, ING & Wachovia • Former VP business development for online accounts video start-up (brands include Panasonic and Dice.Com) • Former Partner, Group Planning Director at Mindshare on American Express & Bristol • Worked in online video since the industry’s Myers Squibb accounts beginnings • Consultant for AlphaSights, Digital Trends, the • Professional actor for 20 years Neighbor Agency, Mindshare USA, Good Crush & Random Dorm (Dogpatch Labs/ Polaris • Theatrical producer since 1998 Venture Partners) & Zenith Optimedia • New media consultant • B. A. Montclair State University • Speaks about online video and social media at meet-ups and conferences throughout the • Digital Media Marketing Professional Certificate, New York University United States • B.S. Northwestern University Joey Brenneman - CVO Erin Bigelow – VP Broadcast • Former artistic director of the award winning Design and Technology STAR Theater/ The NiteStar Program • 11 years working in live television production • Award winning director of both theater and • 4 years at ABCNews with the Director of video "Good Morning America • 20 Years professional stage and commercial • Former TD/Director of CN8-The Comcast actor Network -, “Backstage with Barry Nolan”,, “Out • Theatrical producers since 1996 of Bounds” • Writer and director of Better Left Unsaid the • TD/Director and Production Coordinator of the first live-streamed video-play. local NBC affiliate in Flagstaff, Arizona • BFA, New York University • B.A. Electronic MediaProduction, Northern Arizona State University
- 9. Next Steps 1. Furtherestablish VATV as go-to destination for streaming of live- performance 2. Create a proprietary live-streaming platform uniquely tailored to streaming performing arts 3. Enable performing arts companies and schools from around the world to VATV’s next live-streamed video play is harness the global reach of the Abstract Nude, by Gwydion Suilebhan nascent live-streamed performing arts industry Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 9
- 10. Business Model Four immediate sources of Year 1 Year 5 revenue: Income Income $(MM) $(MM) Sponsorships $0.30 $7.40 Work-for-Hire $0.30 $1.70 Ticket Sales $0.02 $0.80 Consulting $0.08 $0.20 In descending order of volume
- 11. Competitive Analysis • Thereare 5 classes of direct & indirect competition • Companies included in our analysis include GoSeeDo, NewPlayTV, The Camden Fringe Festival, Hamlet Live, TheMet:Live in HD, San Francisco Opera, Joe’s Pub and Broadway Near You Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 11
- 12. Financing Overview Key elements: • Plan to move to ticket sales after Year 2 • Increase to 5 projects in Year 3 & up to 10 by Year 5 • Added staff would include CFO (or other) & CTO (or other) Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 13
- 13.