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Narrathon.TV
Live-stream talks with a Q&A voting system

Total customer interviews: 114
Bonnie Eisenman: BSE, Computer   Bereket Abraham: BSE, Mechanical
Science, 2014. The Hacker.       and Aerospace Engineering, 2013. The
                                 Dude.




                                 Anne Lee: AB, Economics, 2013.
                                 The Hustler.
James Chu: AB, Music
Composition, 2013. The Artist.
OffBeat Lessons

     Music            Off Beat            Music
   Educators          Lessons            Students


                         Idea:
 An online platform that matches music teachers and
                       students
                           +
Provides applications such as scheduling and learning
   applications that makes music learning easier.
OffBeat Lessons
    Educators and students need to be matched based on mutually
    compatible goals for a successful relationships to follow.

Conservatory                                                Professional
Students                                                    Aspirations


Professional                                                Activities for college
musicians                                                   admissions
                 M u s i     c           M u s      i   c
                 Educators               Students
Full Time                                                   Recreational Playing
teachers


Part time                                                   Parents force
teachers                                                    lessons
OffBeat Lessons Potential
Market Size
•    Starting point:
           §  Music Teachers National Association lists 22,000 members
              •    http://www.mtna.org/about-mtna/

           §  Conservatory students: ~40,000 students-->if 20% teach, 8000
               potential teachers
           §  Total: 30,000 teachers
      o  If Narrathon has 10% market share: 3,000 teachers
           §  Assumptions:
              •    On average each teacher finds 2 students from Narrathon,
                   avg. lesson cost: $60 and students take lessons 50 weeks /
                   year
                     o  Narrathon generates $18,000,000 total extra income for
                         these teachers per year
                     o  Assume Narrathon charges 5% commission, total
                         revenue = $900,000 / year
              •    Half of them subscribe to bill pay feature and half to
                   scheduler
                     o  Assume each feature costs $60 / month
OffBeat Lessons
What We Did:

We interviewed teachers, potential teachers, students, and parents

What We Learned:
• Repeatedly -- teachers saying they would try to "cheat" such a
  system, avoid paying for student referrals
• Beginning students didn't know what they needed in a teacher,
  didn't think premium matching was worth paying for
• Experienced students have solid word-of-mouth and personal
  networks

Insights: Small market, difficult to convince people to pay, most people
   think word of mouth is "good enough"
PIVOT 1
Decided to offer a platform for virtual lessons in addition
         to our in-person lesson "matching service"

Reasoning:
• Access to teachers outside of local area
• Convenience
• Access to and availability of teachers for obscure / non-
  canonical instruments, styles
• Gives students/teachers a reason to stick with our
  platform! (so they'll pay us!)
Off Beat Lessons
Virtual music lessons

More interviews (both potential teachers and students),
  insights...
•  Tested online lessons -- ambivalence re: sufficient quality,
   latency
•  Camera angle problems
•  Perception issues
    o  Beginner students especially skeptical
•  Physical presence/interaction

Insights: reluctance from both students and teachers; tough sell
   in current environment.
PIVOT 2
Evolution of Web Platform:          Applications:

                                                             Matching
Online Lessons
                                        Distance
                                        learning




Virtual Classroom / Virtual                  Conferences
Masterclasses                                and Talks
                                                                    News
                                                                    industry


                                                Music:
Virtual "Master-talks" of any                   orchestras, pop
subject with live audience                      musicians
participation
                                                                        Sports
                                                                        Industry
                                Healthcare
Narrathon: The Vision




               Q&A Aggregation System: Real-
               time Q&A with voting system


  Viewers
Narrathon Today
3 Directions: Where To
Go?
1) Destination website: we archive all talks, host them on
   Narrathon.tv
 •  Narrathon finds speakers and audiences
2) Rent out the technology as a platform for content
   partners
 •  Solves chicken-and-egg speaker/audience problem
 •  No need for marketing to find audience or secure
    speakers

3) Hybrid: rent out tech, and archive talks on our site
 •  Syndicated embeddable Narrathons like Scribble Live --
    let other sites embed our partner's content for a fee
Customer Discovery
Customer Segments
•  News Corps
   o  Local / NJ news outlets-no responses from 10+ different organizations

•  Health and Medicine
   o  Health professionals in private practices, large medical groups

•  Conferences and Organizations
   o  Business Today, Keller Center panel, Corporate Finance Club, Smart
      Woman Securities, Model UN

•  Classical Music
   o  Small orchestras and large major orchestras and performing arts
      ensembles. I.e. Santa Fe Opera, LA Chamber Opera, NY PHIL

•  Sports Organizations
   o  Newark Bears
   o  College athletics departments (Princeton, Dartmouth, Columbia...)
News Corporations

•  Decided not to focus on this segment
   o  Slow sale cycle
   o  Large firms can get their own tech crew
   o  Medium news corporations don't have manpower to
      devote to live-streaming topics
   o  Lack of response from 10+ different local/NJ (small)
      organizations
Health and Medicine

•  What we thought were applications in medicine?
   o  telemedicine but with live video medicine
   o  lead generation for surgical procedures

•  Narrathon on cosmetic vein procedures with Dr. Clifford
  Sales
Dr. Sales Talk
Dr. Sales Narrathon Stats
•  16 unique visitors / 28 "visits"
•  36% from Facebook ads, 21% from Google ads, 39%
     direct traffic
•    Locations: 17 New Jersey, 5 PA, 3 NY, 2 FL, 1 CA
•    1 in 4 viewers was on a mobile device (iOS)
•    28% stayed >10 minutes
•    Low question activity
•    No leads generated
Lessons Learned
•  Low traffic...
   o    Hypotheses:
         §  Need to publicize more in advance?
         §  Random doctors do not have crazed fans


•  1 interview: didn't know that you could click on buttons
  to vote / schedule an appointment...
   o  Hypotheses:
       §  Better UI needed?
       §  Or maybe just a more tech-savvy audience...
Conferences & Orgs

•  Interviews: Business Today, Keller Center panel,
  Corporate Finance Club, Smart Woman Securities,
  Model UN Conference

•  Successful Narrathon with Keller Center
   o  One question was asked via Narrathon's live voting
Keller Center Panel
Keller Center Narrathon
Stats
•  76 visits / 60 unique
     o  48 from facebook (!) - 46 from desktop site, 2 from
        mobile app
     o  11 mobile visitors / 49 desktop
•    10% stayed for at least 10 minutes
•    On narrathon livestream page: 45% bounce rate;
     average time on page: 3 minutes
•    47 total votes
Lessons Learned from
Keller Center Narrathon
•  Work on pitch
   o    Explicitly mention ability to vote from mobile site
   o    The idea of a "Narrathon" needs to be better
        explained

•  Facebook ads are pretty effective: many votes came
  from FB referrals.
   o  But, expensive


•  Most people didn't stick around for entire talk -- but
  10% having high engagement isn't too bad?
LOCATION
Overall Traffic
(past month)
SOURCES




Referral = Facebook traffic.


                        VOLUME
                                            Keller Center Narrathon!
Music: "Backstage Pass"
Idea

•  What inspired us to go to orchestras?
•  What inspired the "Backstage Pass" Idea?
Payment Flow Diagram:
Sports & Music

   If orchestras/ sports teams         SPONSORS
   don't pay Narrathon, sponsors
   pay directly

                                                   ex. $1M sponsorship deal
NARRATHON

                          Pay Narrathon : X% of
                          sponsorship deal for
                          Narrathon element



                                                  ORCHESTRA/
                                                  SPORTS TEAMS
Music: Customer
Archetypes




   Music:
   Orchestra Managers/Directors
   E.g.: Kevin Flint, Santa Barbara Symphony Orchestra
    •  In charge of marketing, audience development
    •  Revenue: primarily ticket sales + patronage
    •  Interested if Narrathon could increase patron
        support
Music: User Archetypes
•  Patrons
   o  Wealthy individuals who appreciate the arts

•  Regular Concertgoers
   o  Generally older people with disposable income

•  Casual Concertgoers
   o  See concerts as a special event or occasional option
   o  Younger audience, students, etc.
   o  Orchestras would like to convert them to regular
      concert goers
Music: Customer / User
Flow Diagram

                               Concertgoers
        Buy tickets
                                           Watch Narrathon

                                                              Patrons
Orchestras
                      Buy tickets, support orchestra

                                              Watch Narrathon
  Pay Narrathon                               -more engagement
                                              -feel more invested?
                      Narrathon
Sports: "Locker Room
Pass"

Overview:
• Over 10+ sports organization contacted with no
  response.
• Could have signed a contract with the Bears, but would
  have been after the class.

Key Insights:
   o  College athletics -- cultivating alumni loyalty/
      engagement is HUGE
   o  Big question: how much better is your service
      compared to livestream + twitter?
Sports Market Sizing

Pro-Sports Market Sizing:
•  Total Games / Year (football, basketball, baseball, hockey): 51461

•    Assumptions:
      o  About 20% of games will have Narrathons: 1030 games
               (Conservative estimate, Newark Bears wanted 100%)
      o  2 Narrathons per game: 2060 Narrathons / year
      o  An average of 6 Narrathons / day in the US
          §  Per Narrathon: Teams invite 1,000-10,000 viewers
          §  Up to 20,600,000 (20.6M) viewers



                                              1. NFL.com, NHL.com, NBA.com, MLB.com
Payment Flow Diagram:
Sports & Music

    If orchestras/ sports teams         SPONSORS
    don't pay Narrathon, sponsors
    pay directly

                                                    ex. $1M sponsorship deal
 NARRATHON

                           Pay Narrathon : X% of
                           sponsorship deal for
                           Narrathon element



                                                   ORCHESTRA/
                                                   SPORTS TEAMS
Customer Archetypes




Pro sports:                        College sports:
Sales Managers                     Athletics Fundraising
E.g.: Luis Gouveia, Newark Bears   E.g.: Alexandra Stein, Dartmouth
 •  In charge of tech purchases     •  Wants to increase alumni,
 •  Current purchases: live             parent engagement
     broadcasting for games         •  Engagement -> donations!
 •  His ideal world? Combine        •  Her ideal world? Combine
     Narrathon + live broadcasts        Narrathon + live broadcasts
     into 1 service so he only          into 1 service so he only
     has to buy once.                   has to buy once.
User Archetypes
Professional Segment:
•  Die-hard fans and evangelists
    o  Season ticket holders, eager for more access
•  Casual fans

College Segment:
•   Parents
     o  Parents are "starved" for more info
•   Alumni
     o  Sense of connection with school, want to feel involved
     o  Targets for fundraising
•   Local fans
     o  Some sports at some schools have very loyal fan bases
     o  Try to make every game-->might be interested as a way to 'catch
        up' if they miss a game             Top Photo Courtesy: Sports Networker
                                                Bottom Photo Courtesy: LW T Shirts
Sports - Customer Flow
(Pro)

       existing partnership
       ads / content          Sponsors
                                            click on
                                            ads
Sports Teams
                      provide sponsors     Fans
   earns share of
   sponsor $                             watch!
                      Narrathon
Sports - Customer Flow
      (College)
          College Athletics
          Department
                                                      (viewers)       Alumni      -esp. team alums
         authorizes                                                               -annual giving
         Narrathon    +alumni, parents, fan
                      engagement
                                          Narrathon
          Sports team                                             (viewers)
                              provides
                              content
                                          (viewers)                    Parents

                                                                         --"dying" for
                                              Local fans                 more info / more
                                                                         stuff about
                                                                         games!



"Alumni would be THRILLED to present questions and get responses!"
--Alexandra Stein, Dartmouth Friends of Athletic Groups Director
Bringing It All Together
Key Activities
Analytics:
 •  Analyzing user activities and usage-->better target ads for our partners

Sales and Marketing:
 •  Finding and negotiating with sponsors, partners, and customers
 •  Talking to customers and users and understanding how to improve our
    product-->relaying this to the tech team

Tech:
 •  Continued web development
 •  Tech support for events: before and during

Product Development:
 •  Add features to improve interactivity of our product
 •  Improve user-friendliness of our product based on user feedback
Costs
Assume we host 10 Narrathons / week, for approximately 500 Narrathons / year
LABOR (fixed):
   1-Programmer contractor, 50K annually ($200 dollars/day)
   1-Salesman, 50K, annually
   1-Tech support, 50K, annually

LABOR (variable):
   Camera crew: an average of $200 / hour
   Assume each Narrathon requires an average of 2 hours of camera crew --> ~1000 hours / year,
   200K / year

TOTAL: 350K / year

SOFTWARE (variable):
   Cloud web server, $30+ / month, $360+ annually-->will estimate 1K / year

Marketing costs on partner
Work from home, so no office location, utilities, etc

GRAND TOTAL: 351 K / year for 500 Narrathons, each Narrathon costs $702
Breakeven or profit: if average revenue per Narrathon > $702
Is this a business?
Profitable?
  We need to further investigate, but:
  Experiment: need to test with a larger partner, see if we
  generate enough sponsor revenue + engagement
  -Reliant on contracts
  -Based on market sizing, there is a potential for an average of
  6 pro-sports Narrathons / day, reaching up to 20.6M viewers
  even if we only reach 20% of the US market-->there is a huge
  market
  Initially...pessimistic for near future.

Sustainable?
  Unsure.
   -Experiment: will fans stay engaged? Or just a 1-time
   novelty?
  -Depends on contracts with partners
Is this a business?
Scalable?
     Yes, but...
  -Would need good relationships with local camera crews
  across the US
  -Would need easy instructions + improved user-friendliness

Barriers to entry?
      Yes, if we get contracts...
   -Entirely dependent on exclusive contracts and customer/
   partner relationships
   -No significant technical barriers
Next Steps
--Start with smaller orgs in sports and music , gain credibility, secure larger
    partnerships
Test: are larger organizations willing to work with us now that we are more
    established?

--Have an archive of successful Narrathons from smaller sports and concert
   venues.
Test: how many viewers do we have for archived events, is this an important part of
   our product?

--Improve the tech: make the prototype website a real one, create a mobile
    app., improve the Q&A and comment aggregation system.

--Consider a partnership with livestreaming services like Ustream: create a
   one-package deal (live stream + interactive Q&A feature)
Test: interview and discuss partnership possibility and terms with livestream service
   providers--do they want to partner with us?

--Consider other genres in music: pop, rock, folk, country music
Is this worth further
investigation?
Absolutely:
 •  A lot of tests remaining...probably worth some further
    investigation.
     o  Didn't get to test it out with the Bears, smaller
        orchestras, etc

Not for our entire team:
    o  Divergent career goals.


James
   •  Would like to see a Narrathon appear in Young
      Person's Concerts with the NY PHIL.
Canvases
Narrathon final slides
Narrathon final slides
Narrathon final slides
Narrathon final slides
Narrathon final slides
Narrathon final slides
Narrathon final slides
Narrathon final slides
Narrathon final slides
Narrathon final slides
Narrathon final slides
Narrathon final slides
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Narrathon final slides

  • 1. Narrathon.TV Live-stream talks with a Q&A voting system Total customer interviews: 114
  • 2. Bonnie Eisenman: BSE, Computer Bereket Abraham: BSE, Mechanical Science, 2014. The Hacker. and Aerospace Engineering, 2013. The Dude. Anne Lee: AB, Economics, 2013. The Hustler. James Chu: AB, Music Composition, 2013. The Artist.
  • 3. OffBeat Lessons Music Off Beat Music Educators Lessons Students Idea: An online platform that matches music teachers and students + Provides applications such as scheduling and learning applications that makes music learning easier.
  • 4. OffBeat Lessons Educators and students need to be matched based on mutually compatible goals for a successful relationships to follow. Conservatory Professional Students Aspirations Professional Activities for college musicians admissions M u s i c M u s i c Educators Students Full Time Recreational Playing teachers Part time Parents force teachers lessons
  • 5. OffBeat Lessons Potential Market Size •  Starting point: §  Music Teachers National Association lists 22,000 members •  http://www.mtna.org/about-mtna/ §  Conservatory students: ~40,000 students-->if 20% teach, 8000 potential teachers §  Total: 30,000 teachers o  If Narrathon has 10% market share: 3,000 teachers §  Assumptions: •  On average each teacher finds 2 students from Narrathon, avg. lesson cost: $60 and students take lessons 50 weeks / year o  Narrathon generates $18,000,000 total extra income for these teachers per year o  Assume Narrathon charges 5% commission, total revenue = $900,000 / year •  Half of them subscribe to bill pay feature and half to scheduler o  Assume each feature costs $60 / month
  • 6. OffBeat Lessons What We Did: We interviewed teachers, potential teachers, students, and parents What We Learned: • Repeatedly -- teachers saying they would try to "cheat" such a system, avoid paying for student referrals • Beginning students didn't know what they needed in a teacher, didn't think premium matching was worth paying for • Experienced students have solid word-of-mouth and personal networks Insights: Small market, difficult to convince people to pay, most people think word of mouth is "good enough"
  • 7. PIVOT 1 Decided to offer a platform for virtual lessons in addition to our in-person lesson "matching service" Reasoning: • Access to teachers outside of local area • Convenience • Access to and availability of teachers for obscure / non- canonical instruments, styles • Gives students/teachers a reason to stick with our platform! (so they'll pay us!)
  • 8. Off Beat Lessons Virtual music lessons More interviews (both potential teachers and students), insights... •  Tested online lessons -- ambivalence re: sufficient quality, latency •  Camera angle problems •  Perception issues o  Beginner students especially skeptical •  Physical presence/interaction Insights: reluctance from both students and teachers; tough sell in current environment.
  • 9. PIVOT 2 Evolution of Web Platform: Applications: Matching Online Lessons Distance learning Virtual Classroom / Virtual Conferences Masterclasses and Talks News industry Music: Virtual "Master-talks" of any orchestras, pop subject with live audience musicians participation Sports Industry Healthcare
  • 10. Narrathon: The Vision Q&A Aggregation System: Real- time Q&A with voting system Viewers
  • 12. 3 Directions: Where To Go? 1) Destination website: we archive all talks, host them on Narrathon.tv •  Narrathon finds speakers and audiences 2) Rent out the technology as a platform for content partners •  Solves chicken-and-egg speaker/audience problem •  No need for marketing to find audience or secure speakers 3) Hybrid: rent out tech, and archive talks on our site •  Syndicated embeddable Narrathons like Scribble Live -- let other sites embed our partner's content for a fee
  • 14. Customer Segments •  News Corps o  Local / NJ news outlets-no responses from 10+ different organizations •  Health and Medicine o  Health professionals in private practices, large medical groups •  Conferences and Organizations o  Business Today, Keller Center panel, Corporate Finance Club, Smart Woman Securities, Model UN •  Classical Music o  Small orchestras and large major orchestras and performing arts ensembles. I.e. Santa Fe Opera, LA Chamber Opera, NY PHIL •  Sports Organizations o  Newark Bears o  College athletics departments (Princeton, Dartmouth, Columbia...)
  • 15. News Corporations •  Decided not to focus on this segment o  Slow sale cycle o  Large firms can get their own tech crew o  Medium news corporations don't have manpower to devote to live-streaming topics o  Lack of response from 10+ different local/NJ (small) organizations
  • 16. Health and Medicine •  What we thought were applications in medicine? o  telemedicine but with live video medicine o  lead generation for surgical procedures •  Narrathon on cosmetic vein procedures with Dr. Clifford Sales
  • 18. Dr. Sales Narrathon Stats •  16 unique visitors / 28 "visits" •  36% from Facebook ads, 21% from Google ads, 39% direct traffic •  Locations: 17 New Jersey, 5 PA, 3 NY, 2 FL, 1 CA •  1 in 4 viewers was on a mobile device (iOS) •  28% stayed >10 minutes •  Low question activity •  No leads generated
  • 19. Lessons Learned •  Low traffic... o  Hypotheses: §  Need to publicize more in advance? §  Random doctors do not have crazed fans •  1 interview: didn't know that you could click on buttons to vote / schedule an appointment... o  Hypotheses: §  Better UI needed? §  Or maybe just a more tech-savvy audience...
  • 20. Conferences & Orgs •  Interviews: Business Today, Keller Center panel, Corporate Finance Club, Smart Woman Securities, Model UN Conference •  Successful Narrathon with Keller Center o  One question was asked via Narrathon's live voting
  • 22. Keller Center Narrathon Stats •  76 visits / 60 unique o  48 from facebook (!) - 46 from desktop site, 2 from mobile app o  11 mobile visitors / 49 desktop •  10% stayed for at least 10 minutes •  On narrathon livestream page: 45% bounce rate; average time on page: 3 minutes •  47 total votes
  • 23. Lessons Learned from Keller Center Narrathon •  Work on pitch o  Explicitly mention ability to vote from mobile site o  The idea of a "Narrathon" needs to be better explained •  Facebook ads are pretty effective: many votes came from FB referrals. o  But, expensive •  Most people didn't stick around for entire talk -- but 10% having high engagement isn't too bad?
  • 24. LOCATION Overall Traffic (past month) SOURCES Referral = Facebook traffic. VOLUME Keller Center Narrathon!
  • 25. Music: "Backstage Pass" Idea •  What inspired us to go to orchestras? •  What inspired the "Backstage Pass" Idea?
  • 26. Payment Flow Diagram: Sports & Music If orchestras/ sports teams SPONSORS don't pay Narrathon, sponsors pay directly ex. $1M sponsorship deal NARRATHON Pay Narrathon : X% of sponsorship deal for Narrathon element ORCHESTRA/ SPORTS TEAMS
  • 27. Music: Customer Archetypes Music: Orchestra Managers/Directors E.g.: Kevin Flint, Santa Barbara Symphony Orchestra •  In charge of marketing, audience development •  Revenue: primarily ticket sales + patronage •  Interested if Narrathon could increase patron support
  • 28. Music: User Archetypes •  Patrons o  Wealthy individuals who appreciate the arts •  Regular Concertgoers o  Generally older people with disposable income •  Casual Concertgoers o  See concerts as a special event or occasional option o  Younger audience, students, etc. o  Orchestras would like to convert them to regular concert goers
  • 29. Music: Customer / User Flow Diagram Concertgoers Buy tickets Watch Narrathon Patrons Orchestras Buy tickets, support orchestra Watch Narrathon Pay Narrathon -more engagement -feel more invested? Narrathon
  • 30. Sports: "Locker Room Pass" Overview: • Over 10+ sports organization contacted with no response. • Could have signed a contract with the Bears, but would have been after the class. Key Insights: o  College athletics -- cultivating alumni loyalty/ engagement is HUGE o  Big question: how much better is your service compared to livestream + twitter?
  • 31. Sports Market Sizing Pro-Sports Market Sizing: •  Total Games / Year (football, basketball, baseball, hockey): 51461 •  Assumptions: o  About 20% of games will have Narrathons: 1030 games (Conservative estimate, Newark Bears wanted 100%) o  2 Narrathons per game: 2060 Narrathons / year o  An average of 6 Narrathons / day in the US §  Per Narrathon: Teams invite 1,000-10,000 viewers §  Up to 20,600,000 (20.6M) viewers 1. NFL.com, NHL.com, NBA.com, MLB.com
  • 32. Payment Flow Diagram: Sports & Music If orchestras/ sports teams SPONSORS don't pay Narrathon, sponsors pay directly ex. $1M sponsorship deal NARRATHON Pay Narrathon : X% of sponsorship deal for Narrathon element ORCHESTRA/ SPORTS TEAMS
  • 33. Customer Archetypes Pro sports: College sports: Sales Managers Athletics Fundraising E.g.: Luis Gouveia, Newark Bears E.g.: Alexandra Stein, Dartmouth •  In charge of tech purchases •  Wants to increase alumni, •  Current purchases: live parent engagement broadcasting for games •  Engagement -> donations! •  His ideal world? Combine •  Her ideal world? Combine Narrathon + live broadcasts Narrathon + live broadcasts into 1 service so he only into 1 service so he only has to buy once. has to buy once.
  • 34. User Archetypes Professional Segment: •  Die-hard fans and evangelists o  Season ticket holders, eager for more access •  Casual fans College Segment: •  Parents o  Parents are "starved" for more info •  Alumni o  Sense of connection with school, want to feel involved o  Targets for fundraising •  Local fans o  Some sports at some schools have very loyal fan bases o  Try to make every game-->might be interested as a way to 'catch up' if they miss a game Top Photo Courtesy: Sports Networker Bottom Photo Courtesy: LW T Shirts
  • 35. Sports - Customer Flow (Pro) existing partnership ads / content Sponsors click on ads Sports Teams provide sponsors Fans earns share of sponsor $ watch! Narrathon
  • 36. Sports - Customer Flow (College) College Athletics Department (viewers) Alumni -esp. team alums authorizes -annual giving Narrathon +alumni, parents, fan engagement Narrathon Sports team (viewers) provides content (viewers) Parents --"dying" for Local fans more info / more stuff about games! "Alumni would be THRILLED to present questions and get responses!" --Alexandra Stein, Dartmouth Friends of Athletic Groups Director
  • 37. Bringing It All Together
  • 38. Key Activities Analytics: •  Analyzing user activities and usage-->better target ads for our partners Sales and Marketing: •  Finding and negotiating with sponsors, partners, and customers •  Talking to customers and users and understanding how to improve our product-->relaying this to the tech team Tech: •  Continued web development •  Tech support for events: before and during Product Development: •  Add features to improve interactivity of our product •  Improve user-friendliness of our product based on user feedback
  • 39. Costs Assume we host 10 Narrathons / week, for approximately 500 Narrathons / year LABOR (fixed): 1-Programmer contractor, 50K annually ($200 dollars/day) 1-Salesman, 50K, annually 1-Tech support, 50K, annually LABOR (variable): Camera crew: an average of $200 / hour Assume each Narrathon requires an average of 2 hours of camera crew --> ~1000 hours / year, 200K / year TOTAL: 350K / year SOFTWARE (variable): Cloud web server, $30+ / month, $360+ annually-->will estimate 1K / year Marketing costs on partner Work from home, so no office location, utilities, etc GRAND TOTAL: 351 K / year for 500 Narrathons, each Narrathon costs $702 Breakeven or profit: if average revenue per Narrathon > $702
  • 40. Is this a business? Profitable? We need to further investigate, but: Experiment: need to test with a larger partner, see if we generate enough sponsor revenue + engagement -Reliant on contracts -Based on market sizing, there is a potential for an average of 6 pro-sports Narrathons / day, reaching up to 20.6M viewers even if we only reach 20% of the US market-->there is a huge market Initially...pessimistic for near future. Sustainable? Unsure. -Experiment: will fans stay engaged? Or just a 1-time novelty? -Depends on contracts with partners
  • 41. Is this a business? Scalable? Yes, but... -Would need good relationships with local camera crews across the US -Would need easy instructions + improved user-friendliness Barriers to entry? Yes, if we get contracts... -Entirely dependent on exclusive contracts and customer/ partner relationships -No significant technical barriers
  • 42. Next Steps --Start with smaller orgs in sports and music , gain credibility, secure larger partnerships Test: are larger organizations willing to work with us now that we are more established? --Have an archive of successful Narrathons from smaller sports and concert venues. Test: how many viewers do we have for archived events, is this an important part of our product? --Improve the tech: make the prototype website a real one, create a mobile app., improve the Q&A and comment aggregation system. --Consider a partnership with livestreaming services like Ustream: create a one-package deal (live stream + interactive Q&A feature) Test: interview and discuss partnership possibility and terms with livestream service providers--do they want to partner with us? --Consider other genres in music: pop, rock, folk, country music
  • 43. Is this worth further investigation? Absolutely: •  A lot of tests remaining...probably worth some further investigation. o  Didn't get to test it out with the Bears, smaller orchestras, etc Not for our entire team: o  Divergent career goals. James •  Would like to see a Narrathon appear in Young Person's Concerts with the NY PHIL.