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I would like to have a succinct yet comprehensive overview of an angel investment I'm considering making. The company is Audiyo, a music platform. I would like to all information from the pitch deck, financials, and offer categorized into sections so as to read as a "run-down" of what is being offered, and key points they've made. View details
Hi, and thank you for asking Wonder to provide a summary of the pitch deck provided by Audiyo and additional details available on the web. As Audiyo is still a concept, there is very little information available online but I was able to find details on their competitors. On the market size this is still a new idea and as such the market for this type of platform doesn't really exist. I have provided a market size for digital streaming but I would suggest asking a separate request that could go into details of what the market could possibly be so that it can be covered extensively.
RESULTS
The current digital music market is around $6.7 billion per year and is likely to continue growing. Audiyo would be part of that industry but in a new and exciting way.
Competitors
Audiyo has three major competitors and they are all approaching this new field from a slightly different angle.
Jukely is a UK based company that charges a 25 Pound per month subscription fee. They upload a variety of shows on a regular basis and if the client would like to see one of the show they can put their names down for an available spot. The member can then enter the venue on the Jukely guest list. This system is proving to be incredibly popular and they have been featured in the New York Times.
Bandsintown is a free app that lists all the bands that will be performing in an area that you select. This is an easy way to make sure that you never miss a concert and its a great way for fans and bands to connect.
Loudie is an app that allows people to view concerts that their social media friends are attending, watch uploaded videos of concerts and ping their friends to organize tickets. They sometimes give away free concert tickets as incentives to keep members active.
SUMMARY
94% of people 18-30 listen to a song because they saw a friend listening to it on social media. The world of music is changing and Audiyo is part of that change. Young America gets most of their music online from sites such as Spotify and Pandora.
People will tend to buy tickets to a concert of someone that they have seen live before at a festival. In fact 74% of people will buy tickets to see artists after watching them perform at festivals or similar events. 58% will buy tickets because of social media recommendations. The point of Audiyo is to bring these two sections together and get fans buying tickets. Fans that buy concert tickets are worth a lot more to artists.
Facebook live is a new tool that can bring in more concert goers. Videos have 135% greater organic reach over photos. With over 1.6billion users Facebook is still the largest social media site in the world.
Instagram
People that use Instagram have been shown to be more likely to attend a live performance or club events with a DJ. 83% of them will use social media at a live event.
Brand response
73% of people think it improves the image of a brand if they are associated with an artist or live event. 70% say that it makes the brand stand out from the competition. There is now a $1.4 billion music sponsorship market.
How will Audiyo make money
10% of their funds will come from a set subscription fee, 10% from in-App purchases, 35% from referral revenue and 45% from advertising and sponsorship. They aim to have 100 000 users by the end of the first year.
CONCLUSION
They are requesting $500 000 investments and if they are as successful as Jukely has been then this will be a good investment. None of the competitors currently list a yearly revenue as they are all fairly new.
I hope that this has answered your question.
Please feel free to contact Wonder for all your future research needs.