Project Title MusoMusic: A Music Monetisation Ecosystem Platform and App for Independent Music Creators Worldwide to Distribute and Publish Their Works Globally.
Current Status Concept / Business Plan
Amount Invested RM25,000
Funding Required RM3,000,001 to RM4,000,000
Description MusoMusic is a music monetisation ecosystem providing a variety of affordable services from publishing administration to music distribution (to over 300 stores eg. Spotify, Apple Music, Google Play) to providing value-added services, to fan engagement, radio airplay promotions and more. We take the hard parts out of readying and distributing their music globally. We will continue to strive to be better than any of our competition and add new patches to our platform development from time to time.
Business Opportunity 1) Music Creators find it difficult to monetise their music digitally and 2) most times have to wait for up to 2 years to start seeing their royalty payments from streaming and music downloads. 3) They also have to go to multiple vendors to ready their music for distribution.
MusoMusic offers a one-stop solution for independent music creators to ready, publish and distribute their music across all channels available worldwide simultaneously and generate automatic reports on how their music is performing, report on royalties collected via an E-Wallet app that the creators can choose when and how much of their collections they want to transfer to their connected bank or PayPal accounts.
Global value of the entire music industry currently is about US$17.1Billion (2017) and it is growing rapidly. Regional calculations of the music industry covering Malaysia, Singapore, Australia and Japan is worth US$1.8Billion with approximately 2000 new independent creators created yearly within this region.
Revenue / Business Model Primary Revenue Sources are from Distribution, Publishing and Royalty Management. Secondary Sources of Revenue are from our services that include but are not limited to Mixing and Mastering, Cover Art Design, Lyric Video Production, YouTube Monetisation, Global Radio Promotions, CD & Vinyl Manufacturing, Merchandising and our built-in store sales for digital and physical music as well as merchandise. There’s a third source of revenue slated for development at a later stage for fans to buy tokens to donate to their favourite artistes and bands. These artistes and bands can also use these tokens in exchange for collaboration projects with others on our ecosystem.
Management Team Kevin, CEO has a Diploma in Audio Engineering and has 26 years of experience in the music and broadcast industry. He started as an engineer in a few recording studios in the early 90s. Since then, he has been a systems integrator for recording studios and radio stations worldwide.
Flora Rajadurai, CFO and Co-Founder has extensive experience in the Telco industry for over 15 years, is a qualified chartered accountant and has worked for several Australian and Malaysian public companies for over 12 years in the areas of regulatory, strategy, carrier services, systems, finance and marketing.
Michael Yip, CMO and Co-Founder has 22 years in the broadcasting and entertainment industry across Malaysia, Singapore and Hong Kong with an extensive business providing event management and digital media solutions across Asia in the past 12 years.
Alexis Lexchinsky is our A&R Manager and has a decade of experience in the electronic music scene, from DJing across Asia to artist management and event production, promotion, and support in Japan.
Company Background We have been operating using my other company Thenexus Sdn Bhd, established in 2002. With funding, the first order of business is to setup a completely new entity for this venture. We have spent a little over 25000 of our own funds to get the beta website made, met up with marketing and industry professionals in Malaysia and Singapore, organised some events to get early adopters on-board and are currently getting validation responses from music creators and labels worldwide on our many offerings. Development and Operational Expenses are high valued and we require the funding to be in place to build the MVP, start our marketing and work on building the complete platform and the mobile E-Wallet app. We have deduced that with the MVP, we can already start generating revenue.
Funding Milestone Total RM3,800,000.
1. 500,000 to build the company infrastructure, acquire all licenses and professional memberships, purchase required hardware and software, hire key personnel, develop the platform and app into a Minimum Viable Product (MVP) and start our marketing push. Expected milestone to be achieved is MVP within 6-8 months with a working office studio and start on-boarding early adopters for real-world testing.
2. 2,000,000 to expand company strength, launch product, hire more key personnel, complete second phase of product development, extend marketing, application for MSC status. Expected milestone to achieve is 100,000 paid songs on our distribution catalog.
3. 1,300,000 to carry company through to Year 3 to be used on continuous product development and massive marketing push. Expected milestone 200,000 songs on our distribution catalog and direct to stores API connections. We will be profitable by the end of Year 3.
% Equity Allocation 25%
Company Name MusoMusic
Website/Facebook http://www.thenexusasia.com%20%20/%20%20www.facebook.com/thenexusllc
Business Address No. 588, Jalan 17/17, 46400 Petaling Jaya, Selangor
Contact Person Kevin Suresh Chand