Good evening all
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What a beautiful day it was to end the working week in the green!!!
Well I can not stress to you all enough how excited I am after speaking with management.. just to clarify this is totally separate from yesterday's events as we only discussed the CR there was no time to spare for anything else... So I took the Liberty to phone up again today. Anyone can do this by the way....
The below is a mixture of some of my research and what was discussed:
We are at the forefront of a tall cliff of 27 potentials to which we will start climbing come Monday, quite quickly I might add... Many people are underestimating the karaoke app and the potential revenue that this can generate. When this was announced a few months back I thought it was a joke at first but boy was I extremely surprised after doing my research on just how big the karaoke market actually was! I was gobsmacked yes my mouth must have been touching the ground 13.5 billion dollar market... The closest competitor to what we have developed (Karaoke2U) is Smule. Smule's turnover at present is something like 100 million dollars annually and I believe they have been in business for about 4 years or so, but there's a trend to consider here online streaming is now the in thing. Growth in Smule's revenue has increased tens of millions over the past year alone. Oh let's not forget this---
"TV2U has its own analytics, so we can build up a customer profile about what you're watching and we can make personalised recommendations and have targeted advertising," Mr Fitzgerald said.
"This will be a key revenue generator. Some of the advertising will be location-based as well, so you could be in a bar doing karaoke with your friends and then get an ad about a bar down the road offering a discount."
Our app is similar to smule but with more features folks.. We have access to over 14,000 songs thanks to Sunfly, Smule does win in this category as they have around 16,000 songs. Smule spent years developing the app and tens of millions---we got this up and running in a flash and at a fraction of the cost thanks to our fantastic business model
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We will be charging $7.00 a month our competitor currently $7.99) $3.00 from that $7.00 will be PROFIT
I like that word!
TV2 are currently on track to launch with Divan TV around mid June and 25 million dollars is predicted as per announcement over a two-year period BUT that is the minimum...
We will initially Target small to medium sized companies with a subscription base ranging anywhere between 100,000 to 1 million.
There is next to no chance now that a capital raising will be required, however if the company is requiring any funds for further expansion to seek other opportunities it will most probably exercise the right to convert the options at a much earlier date than the proposed 2019 ballpark...
We are still looking at entering into the Chinese market but new laws were introduced fairly recently that put a delay on things but we are still very much so in the running...
Our patents are in place and protecting our technology....
As we all know there is lots of news incoming, stay tuned and watch this space
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Hope you all have a wonderful weekend...
Cheers
Red bar
