audimated we media miami 2010 pitchit submission
DESCRIPTION
Lucas Sommer, won the for-profit category of the We Media Miami 2010 PitchIt! competition. This is his powerpoint presentation.TRANSCRIPT
Lucas Sommer - President
LOVE MUSIC, MAKE MONEY
Prepared for: We Media Pitch It Contest 2010
Lucas Sommer – President – [email protected]
What is Audimated? ?• Audimated is a community which helps Artists and Fans share,
discover and monetize independent music. – Gather the top revenue driving services for artists into one place, one
bank account.– Give fans the best possible tools for finding the music they want to
support
• With Audimated , both Artists and Fans get paid for their content.
Lucas Sommer – President – [email protected]
What’s the Story?The Problem:• Poster Boy, a starving independent artist, cannot
effectively monetize his music.• Myspace is no longer a solution• Artists are not getting “signed”• Wasting time, energy and money on everything but music
or ??• Fan Tastic, a music connoisseur, can’t effectively
support independent artists• “Support” for the artist is lost on venues, social networks and
advertisers
• Wasting time, energy and money on every but musicLucas Sommer – President – [email protected]
The Solution:• Audimated Artist Account: (Free)• Audimated Fan Account: (Free)
– Quickly and easily find music• Browse, Search, Charts
– Music Recommendations – Core Competency: Affiliate Program
Lucas Sommer – President – [email protected]
The Market Opportunity:• 3.4 Billion Dollar INDEPENDENT Music Market– US only– Doesn’t include underground/unregistered transactions!– Doesn’t Include merchandise
• Itunes, Facebook, Myspace– Hundreds of millions of users
– Eight million plus artist active accounts on Myspace• Decreasing prices, increasing quality and greater acceptance
of home recording equipment– More Artists– More dreams– More MEDIA!
Lucas Sommer – President – [email protected]
Ready for Execution:• In BETA testing• Trademark Awarded• Waiting Customers– 28,000 Artists– 18,000 Fans– 450 Surveys
• “I am currently selling content”• “I want to sell more”• Need for relevant information, consolidation of services and
interest monetization tools.
Lucas Sommer – President – [email protected]
The Budget:• Expected expenditures– 7-12K Hosting in year one– 12-25k to build 2.0– 10-15k tradeshows– 5-10k Campus ambassador program– (detailed financials in additional materials)
Lucas Sommer – President – [email protected]
Team:• Lucas Sommer – President CEO
– Bachelors in Business Administration– Successful Music Industry Entrepreneur– Ten years experience monetizing music
• Andrew Levine – CFO – Masters in Business Administration– Finance – Family history of entrepreneurship and innovation
• SEEKING Technical Support Team Members – From and the people in this room– Knowledge and experience– Audimated 2.0– Sever/Data Scalability
Lucas Sommer – President – [email protected]
What if: Things could go wrong• Is it sustainable?
– Yes, not add based social network– Technology and Process Innovation – Users + Eyeballs + Recurring Revenue + Services + Audimated
2.0 = Success• What if Myspace does this over the weekend?
– Had years to do it, partnered with Snocap – Picked their model
• What about royalties, labels, accounting, multiple songwriters, copyrights… How do you handle all of that?– Simple. We don’t.
• What about data/servers/scalability?– Please help!
Lucas Sommer – President – [email protected]
What If: IT WORKS!!• User base established: 50k-100k Users• Audimated 2.0• External Advertising • Live Events• Other Countries
Lucas Sommer – President – [email protected]
Wemedia.com and the 25kWhy am I here?• Experience and knowledge of the Wemedia
community– Further innovation building Audimated 2.0
• The $25,000– Launch the website– Deliver new MEDIA
• to hundreds of thousands of artists, fans and consumers• RIGHT AWAY
– REVOLUTIONIZE THE INDEPENDENT MUSIC INDUSTRY
Lucas Sommer – President – [email protected]
Why Audimated ?• Innovation– Media rich disruptive technology
• Sustainable– Not adds– Cash flow positive community • (see additional materials)
• Right Now• Use of funds– Save the independent music industry