Ideas are Gold in this Economy

Posted by Al Hathaway Saturday, March 10, 2012



One of my son's, Rodney Williams, is on way to Austin, Texas to attend the SXSW. He is traveling on a bus with his colleagues from Cincinnati, Ohio. On the bus they have these objectives: to create a company, develop a business, to obtain investors, and make a presentation at the SXSW of a winning business concept. 

The SXSW is one of the largest gatherings of its type in the world. It is estimated that over 16,000 people will attend this year. 

The company they have created is called LISNR

We live in a world where the new economy is the organization of ideas into viable businesses. I wish Rodney and his partners much success. 




This is LISNR.
LISNR gives fans backstage access to their favorite artists and music.
LISNR is an app that runs in the background on your mobile device and hears the music you listen to -anywhere you listen to it.  When a LISNR enabled track is picked up, your device notifies you that you’ve unlocked or discovered exclusive content delivered to you directly from your favorite artists.
Examples of LISNR content could be exclusive song downloads, bonus videos, behind the scenes footage, messages from the artist, lyrics or social interactions.
Through this experience, LISNR is able to foster even deeper connections between an artist, their music and their fans.
LISNR users accumulate a score for the amount of content they have discovered and unlocked, and can also purchase backstage passes to unlock even more bonus content on their favorite artists.
Why does this work?  Fans want to connect in a fun and engaging experience with their artists, and artists want to grow and deepen the connection with their fans.  By downloading the LISNR app, consumers have an ability to interact with artists in a way they never have before.
Our customer acquisition model is unique.  Artists are our heroes and our champions.  Let me share with you an example that I think you’ll find interesting.  
Mindless Behavior is an American boy band, best known for the singles “my girl” and “mrs. Right”.  Heard of them?  Probably not.  What’s startling is that  they have 517K followers on Twitter and 1.3 million likes on Facebook.    Additionally, Mindless Behavior has their own app that has been downloaded over 1.2 million times.  There are tons of lesser known artists out there that have millions of fans that follow and download their content.  Imagine the power of an artist like Jay Z or Justin Bieber or Lady Gaga advocating for the download of LISNR.  By downloading the LISNR app, consumers have an ability to interact with artists in a way they never have before.
There are over 6 billion mobile subscribers worldwide.  Almost 87% of the world’s population own a mobile device.  Additionally, Gartner reports that mobile advertising revenue is expected to double over the next 3 years reaching $20 billion dollars by 2015.  Needless to say we’re playing in an awfully big ballpark.
LISNR is free to download, however we make money from consumers in-app purchases like Backstage Passes.  We offer brands the opportunity to “sponsor” exclusive content – charging .02 per UCD.  Our projections show us at breakeven in less than 1 year.

For LISNR, music is just the beginning.  We have plans to enable commercials and even audiobooks.  We see lots of paths to exit, including labels, production companies, media conglomerates and more.  For now, we’ve secured artists for the private beta and will be debuting LISNR at SXSW.

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