Miami University, Entrepreneurship 401 Pitch Competition
Semester: Fall 2017
Contributors: Aron Rosing (Entrepreneurship), Tristan Crimmins (Entrepreneurship) & Parker Monahan (Accounting)
PROBLEM (3 SIDED):
Through research and in speaking with a number of industry insiders, we identified three majors problems that put new artists at a disadvantage when attempting to build a career in today’s music industry.
(1) Connections: The first of which being a lack of connections. Now more than ever, creating a network of legitimate, reliable connections is the key to developing a successful career in the music industry.
(2) The music industry is a business, and an artist’s talent is not the only aspect to their brand. However, many artists do not know how to leverage their talent to develop a financially viable career.
(3) While social media can be a gateway to success for some artists, there is simply too much noise for many talented artists to stand out to the people that can further their careers.
In summary, many young artists simply do not have the network or the know-how to establish themselves in today’s music industry.
We developed Tracktion, the first Social Platform designed specifically for the Music Industry, designed exclusively to facilitate Professionally Verified Connections.These verified connections are important because in today’s music industry, it's difficult for artists to meet someone new without an introduction.Tracktion provides that introduction by creating a layer of credibility to all of its users.
CUSTOMER SEGMENT & TARGET MARKET SIZE:
Tracktion requires all users to be either a registered member of a Performing Rights Organization(which is the benchmark for all serious musicians, artists and songwriters), or an employee of an established music label.
This gives Tracktion a potential market size of...
+1.5 million members of performing rights organizations
+30,000 employees of music labels in the United States
Tracktion’s Standard membership allows users a set of basic features to get them started, featuring the ability to create comprehensive, customizable profiles as both artists and industry professionals. As part of a standard membership, users will also have access to Tracktion’s intuitive social media aggregation platform, which pulls a user’s entire social media presence and makes it accessible and manageable directly from the Tracktion platform. Tracktion will then provide feedback and suggestions to users so that they may best optimize their social presence.
Tracktion’s Pro membership offers a set of essential tools for members of today’s music industry. The first of which is a messaging platform, allowing users to connect directly through Tracktion. Within Tracktion’s messaging feature is an integrated file sharing platform that allows seamless transfer of digital audio, midi, and other industry related file types. In addition, Pro users will have access to contact information for their connections as well as their connection’s representation such as managers, agents, etc.
Below are some of the Powerpoint Slides I created for our final pitch in front of investors:
Below is a full scroll mockup of what a "Pro" member's profile may look like: