Why Jaxsta will be a future multi bagger

Their Asset
The world’s most comprehensive resource of official music credits

279 Data Partners - Data partners receive a cut of API revenue as incentive
218 mil credits
1.4 mil Labels
https://jaxsta.com/
The value in their asset is that they are unique being the only official music credits database sourced from labels etc (not crowd sourced), and the high barrier to entry to replicate what they have done. As of May 2019 they had completed over 3800 presentations to the industry and at that point only had a fraction of what they have now as far as data goes, Jacquie mentions this at 3.30 in this old presentation;
https://www.youtube.com/watch?v=UEQDx_2wGPU
Consider in terms of $ and time the amount of investment to replicate this, a significant first mover advantage.

The Potential
The 2 revenue streams currently in focus are the API and Jaxsta Plus subscriptions.

API - Selling the data for a fee
In terms of $ the target market here in a bit of an unknown to my knowledge, we do know they projected $1mil ARR and 30 APIs by the end of last year which they missed that target by a mile with only 10 announced at years end and revenue undisclosed apart from their largest which was a $30k USD fixed fee + usage fee. Given the knowns, there is a significant opportunity here. The holy grail would be an API with the likes of a major streaming service, IMDB, or LinkedIn for example.

Jaxsta Plus Subscriptions
Jaxsta has provided market size information in past investor presentations, based on a $68 ($49 USD converted at $1.39) annual subscription fee the target market size in AUD is;
Practical $17 mil - $34 mil
Addressable $102 mil
Total $265 mil
LinkedIn took several years to gain significant traction, most recently Jaxsta reported 520 paid subscriptions so it is still very early in this space but a huge opportunity when this takes off.

Other Revenue Streams

There's many other directions Jaxsta could head in the future, once they are more established. Advertising, marketing, concert referrals, merchandise etc.

Challenges
Their cash burn is high, so the biggest risk for those invested now is significant dilution if they are slow to monetise the platform. Currently there is ~350mil SOI which is respectable, and the ~40mil Songtradr warrant exercisable at 3.5c. We need to see money coming in to reduce the dilution.

Other Notes
- The CEO Jacquie has significant skin in the game and favourable employee incentives, basically every 10c the share price rises she receives 1mil options.

- The Recording Academy who host the grammys used their credits for their Behind the Record
- They have a good BOD, a range of expertise and the right team to make this succeed. Most recent recruit Beth Appleton is a high calibre addition.
- Allmusic.com sold for $72ml in 2007, which is a crowd sourced peer.

Bring on multi bags, $34mil from subs, $5mil from APIs, $X from other revenue streams can see this being $500mil+ MC several years from now and the share price closer to $1.

All IMO, DYOR