wax music - investor deck
DESCRIPTION
Wax Music - Investor Deck. Oct '14.TRANSCRIPT
The Problem Although concert attendance is up 26%, $24B worth of tickets go unsold every year. !This isn’t due to a lack of interest. It’s a problem of discovery. !
• Concert & Event Promotion Market Research Report | IBIS World | NAICS 71133 | Sep 2014 - http://www.ibisworld.com/industry/default.aspx?indid=1960 • LiveAnalytics - http://www.slideshare.net/LiveAnalytics/mobile-report-us-2013?related=1
We are the first social platform where daily music discovery powers concert sales for every night of the week.
our solution
our approach Look, we get it. Social music sounds scary, but our approach & end goals are drastically different than most.
We built a platform for daily use to share & discover music. By doing so, we created a larger top of the funnel to sell concert tickets. !
On Wax Music - Social powers concert discovery.
using social to power ticket sales The people you follow, the songs you share, the music you engage with is all used to fuel your concert experience.
Follow Tastemakers Concert Recommendations PurchaseEngage with Content
THE WAX MUSIC EXPERIENCE
early traction We launched in January under the name LuckyPennie & rebranded as Wax Music in October. !!!!!Since then, we’ve won Microsoft's Push the Web Forward Contest, were featured by top tech blogs, and were promoted by Apple as a Best New App - both overall & in the music category in 34 countries worldwide.
January October
25KRegistered
Users
60KSongs Shared
1.2MSongs
Processed
1.7MAlgorithm
Inputs
early engagement
Yearly Usage
Revenue Per User
competitive advantageWe do not compete with music streaming (e.g., Spotify). We leverage these services & are platform agnostic to take advantage of the real opportunity - concerts.
Daily Usage
the opportunity
• Concert & Event Promotion Market Research Report | IBIS World | NAICS 71133 | Sep 2014 - http://www.ibisworld.com/industry/default.aspx?indid=1960
It’s clear where the money is. By introducing our users to more bands and connecting them with related concerts, Wax Music users will go to more concerts and unlock revenue opportunities for unsold tickets.
music streaming$24.9B
concert & event promotion
$28.7Bforecasted in 2019
$1B
Road Map
Year 1 Year 2 Year 3
Affiliate Tickets & Merch —————————
Exclusive Tickets & Merch —————
Seed Funding $750K Add 3 developers
$3.5M
$7M
$10.5M
$14M
121,410 active users
902,025 active users
2,745,120 active users
Revenue from Active Users
the teamJonathan Lane - CEO • 10 yrs in music industry (RocketScience & Adrenaline Records) • Co-founded 2nd co-working space in Los Angeles (NextSpace) !
dr. john wolanin - cpo • UI/UX Designer. Designed & shipped 30+ apps/websites • Dissertation on using music to diagnose adolescents
Joseph Landon - cto • Former Director of Platform Development for Break.com • 16 years development experience
Advisors
Tim Schigel ShareThis
Tarek Kamil What If Sports
Leo Nitzberg AEG/Goldenvoice
**John and Joe have built 30+ apps together, including the #1 Travel App - Happy Cow at their development studio
Exclusive Content
Mayer Hawthorne Toni Braxton Plain White T’s Slash
Ticketing Partners
partnerships
fundraising
We are raising $750K Seed Financing with our first $50K already committed. !Milestones to accomplish with seed financing
• Establish partnerships with pilot venues to move unsold inventory • Improve human-powered music & concert algorithm • Location-based notifications & in-app ticket purchasing • Expansion to Android & Web