I had this idea about 8 years ago but couldn’t execute it cos i didn’t know how to go about it but with some experience i have garnered as an entrepreneur and an upcoming television/music producer i think i am ready to face the venture. Below is a summary of the idea, I am still working on the business plan. I want to hear from you guys cos based on what i read here, i think there are some thinkers in RADAR. Good day all
The idea is a web and mobile-based music community offering free music streaming, discovery, and editorial content. It is built to provide independent artists a platform to promote their music and network with other industry professionals while fans discover new music
Best of all, both artists and fans can participate for FREE. Users can easily share playlists with their friends through Facebook, Twitter, email, and SMS text messages reaching a wider audience
Artist can enter monthly sponsored competitions to compete, win prizes, and publicize themselves. Local, regional, and national competitions will award cash prizes or music industry opportunities to winners chosen through fan judging or by industry experts, our proprietary judging software will allow users to listen, judge and rank music based on certain parameters; like song play, downloads, review and social media mentions.
We will establish contacts with industry experts to give artists on the platform to provide various licensing opportunities including placements in advertising campaigns, TV shows, opening acts in concerts, films, radio plays and professional reviews. It will help in bringing diversity to the Nigerian music industry as it doesn’t matter the geographical location of the artist, he will make money making music. It will cut the stress and give-up attitude unsigned artist have due to the notion that says “To do music in Nigeria you have to relocate to Lagos
In Summary
For artists, It will be a place to sell and make their music available to fans, to find new fans, and to have their songs independently judged in competitions for some pretty great prizes and industry opportunities. In addition there are a bunch of practical tools to help artist advance their career.
For fans, it is a place to discover new music. Not only is their opinion heard, but it actually counts and has a direct effect on their favorite artists. Also, fans will have competitions and recognition to reduce user apathy
It will operate under the freemium business model generating revenues by selling streaming subscriptions to premium users, advertising placements to third parties and transaction fees from selling music through the site. Part of our rules is mandatory registration to gather more precise data on users, in order to run more targeted ads
A vibrant digital music industry will result in more musicians making money off their arts, more employment and income generation by the entertainment industry. It will also lead to independent artist crossing geographical barriers resulting in more opportunities in foreign markets – opportunities like collaborations with foreign artist, international tours, foreign movie industry placement and concerts. My dream of launching an indie label will be achieved using this model – a model where artists will have freedom to exist
I am currently in Lagos to establish contacts with industry professionals that will bring value to my idea. Thats all for now as I’m still developing
