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Transforming creativity into capital

A WHIRLWIND OF ACTIVITY

MESSAGE FROM THE CEO

Our team has been incredibly busy since you heard from us back in June. We've conducted research on our concept, developed the first version of our Megastar Millionaire app, raised capital, and launched our first "beta" contest, which just finished at the end of October. Below, you'll find some of the highlights of our recent activity.

DION SULLIVAN
Managing Director & CEO

THE MEGASTAR MILLIONAIRE APP

SIMPLE BUT WORKING HARD FOR US

We finished the first version of our Megastar Millionaire app in September, available at the App Store and on Google Play. We’ve been calling this version “a chassis with wheels” — not all that it can be, but a proof of concept and technology. Great news. It works, and people are using it. It has limited functionality at present, but allows you to scroll through videos randomly, by rank, newest, talent you're following, and those for whom you've voted. You can watch videos and cast votes for your favorites. And it has given us back-end data that is already becoming a powerful driver of the eventual full contest app next year.

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OUR STATS ARE HIGHLY ENCOURAGING

BETA CONTEST DEMOSTRATES CONCEPT POTENTIAL

The beta contest has just finished: 160 performers vied to win $10,000. We'll announce a winner in the coming days. With 1,228 fans, our initial numbers are outstanding. At Day 1, Day 7, Day 14 and Day 28, our stats blew away norms for Social Driven Entertainment.

We don’t want to overstate it; these results are based on a relatively low baseline of contestants and fans. These numbers shall go down, especially as our volume of fans and contestants goes way up in the actual contest. Still, they are very strong indicators. What does it all mean? It means our fans are engaged, and the potential for monetization is huge. We'll talk more about this next month.

In the meantime, take a look below at our numbers and charts.

Retention:
3x Norm

Not only did people spend significant time on our app, they kept coming back for more. Our retention rates were more than 3x the norm at Day 28. Fans were engaged. They watched, promoted, and voted.

Engagement:
18 minutes/day

Our users averaged 9.4 minutes per session, and 2 sessions per day. That works out to more than 18 minutes per day per user. And they responded to notifications at more than 4.76x the industry norm.

*Industry Norm Sources: Adjust.com, Statista.com, Urban Airship Whitepaper

CAPITAL RAISE GENERATES ~$5MM

FEEDING THE 2017 MARKETING MACHINE

In August we conducted a successful capital raise, bringing in ~AUS$5MM, which will feed the marketing machine and help us expand our footprint into new markets in early 2017.

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RESPONDENTS
WANT TO COMPETE

QUANTITATIVE RESEARCH RESULTS

In July, we conducted a significant study of more than 2,500 social media users that produced very positive results, which have been validated by our beta contest. Some highlights are below.

People most enjoyed watching entertaining videos, voting on videos, the look and feel of the app, and the participation concept behind the app (entering and competing, vetting and promoting talent to the winner’s circle).

We were pleased to find that 83% stated they definitely or probably find the concept of Megastar Millionaire appealing, and over 90% state they would participate.

Most people rated their experience with the app as “good.” We also gained valuable insights on how to improve gamification and develop incentives.

REVEALING RESEARCH

QUALITATIVE RESEARCH RESULTS

Our recent concept research also uncovered some fun and interesting facts about social media users' attitudes and behaviors that got the attention of a few Australian media outlets.

See the Infographics »

WHY YOUR BRAND NEEDS A GLOCAL STRATEGY

A CONVERSATION WITH SOPHIE MCGILL

ShortPress, a digital publication that specializes in innovation, leadership, marketing and technology, sat down with MSMCI board member Sophie McGill to talk about boosting the strength of global business offerings.

Read the Article »