Why would it be scary when the app is already developed & concept is proven?
Most long termers has held this during development stage, that would have been more scary. Going by the volume it appears the top 20 are still holding.
Now Megastar is working & is of high quality people start selling. To me that's more emotions than logic. It is also starting to generate some revenue through gifting in-app.
But i must admit if I didn't have the app i would have sold too based on price action alone.
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We have to keep it in perspective.
1) Pre-launch not many has heard of Megastar and there is no app like it that people can relate to. So MSM had to make the market aware that Megastar exist.
Through Usher this was achieved. His appearance on Ellen has given this app so much credibility and video has now over 1M views in youtube.
True it did burn a lot of capital but in return it has accelerated the Megastar brand awareness by many years.
2) 428k installs is impressive in todays app market. Until i started following MSM i didn't realise how hard it is to convince people to download apps these days. Especially new & unknown apps which Megastar was at the time. You can't really blame people not adopting Megastar app immediately when there are over 2M apps out there to choose from. The more people hear the Megastar brand the will eventually try.
At present Megastar app has now built a community of users which can be utilised for future marketing/recruiting by giving them in-app rewards when the share the app on social media etc..
3) Revenue is generated through gifting at present. Even on current mini competition people are still spending daily. This will increase as quality performers joins the competition & user base increases.
4) Additional revenue can come in a lump sum in the form of sponsorship & licensing agreements. Along with in-app advertisement & merchandise sales.
Megastar is working in tapping into the multibillion mobile Advertising & Gaming market.
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5) Megastar is scheduled to expand in many more regions worldwide.
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6) Awarding of the first Megastar winner is scheduled this weekend which will increase more awareness of the brand which in turns helps increase downloads.
5) Megastar app is of very high quality. The metrics proves it and even user app reviews suggest the majority of people enjoys the app. Most negatives are technical related but that was mostly during the first 1-2months which is normal for any apps.
My major concern is judges review it needs to be improve. I believe this process kills off the passionate users when their favourite gets eliminated with no explaination.
The current performers continue to do love it. I follow performers Olivia Thai , Sarah Lloyde, Jimmy Levy, Rich Hennessey + more on their socials & megastar is almost their life at the moment.
So to me just need patience and let the management continue to execute their plans. So much more to come. (Imo & dyor)
