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    Date submitted
  • 01-Oct-2017

Vinylmint

Abstract

Vinylmint is an online marketplace that connects video producers to an award-winning sound community of musicians, voice actors, and translator who are ready to produce custom sounds on-demand.

Video

Original YouTube URL: Open

Introduction Video

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Additional Questions

Who is your customer?

Vinylmint's initial market focus is on the 245,000 video producers at the US ad agencies who spend an average price of $5,000 per sound purchase. The total addressable market is $1.2 billion. The global advertising industry is made up over 67,787 advertising agencies that spend over $2.5 billion in total on sound purchases.

What problem does this idea/product solve or what market need does it serve?

After working in marketing and music publishing for the last 11 years, I have discovered that buying custom sounds is time consuming and expensive. The current process for accessing original sounds is archaic. It requires a lot of paperwork, negotiations and clearances. The traditional buying process may range between 3-6 months to complete a transaction for a custom sound, and costs over $10,000. Vinylmint truncates the purchasing process to as little as 2-5 days. Moreover, Vinylmint provides access to the authentic sounds from the around the world and enables price predictability for custom sounds for a project.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Vinylmint is an online marketplace that connects video producers to an award-winning sound community of musicians and voice actors who are ready to produce custom sounds on-demand. Vinylmint is a drop-in solution to the buyer's existing workflow. We source a greater variety of authentic sounds from a world-class community using a streamlined consolidated contract, clearance and delivery process. Vinylmint takes a 33% transaction fee on each contest submitted. The traditional buying process may range between 3-6 months to complete a transaction for a custom sound, and costs over $10,000. Vinylmint truncates the purchasing process to as little as 2-5 days. Moreover, Vinylmint provides access to the authentic sounds from the around the world and enables price predictability for custom sounds for a project.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Our strategy will focus on social influencers and agencies that leverage social influencers and their audiences for viral growth. The three traction channels that we are testing to optimize for scale include (1) listing building through regional tradeshow events in NYC and Boston, (2) search engine optimization (SEO), search engine marketing (SEM) and retargeting tactics around our organic content that performs the best and sound creators that have social influence within our own community; and (3) affiliate programs with digital asset libraries, social media sites, and creative suite tools for video producers and sound engineers. Our leadership team consists of experienced digital marketers and a brand manager who collectively have over 30 years of experience. Our CTO and CFO have built their career building and managing business built on 2-sided marketplace mechanics. Our team is made up of: Byron Morgan, CEO: Byron has worked for the last 11 years at the intersection of marketing and music publishing. While working at Kedar Entertainment Group/Universal Fontana, he repositioned the firm’s music distribution strategy to select digital channels to optimize the awareness and monetization of their existing catalog indie and soul music catalogs. While working in advertising, Byron led teams team’s that developed and executed the ecommerce strategies for the global rebranding efforts of HPE, HPI and MassMutual. As a brand strategist at Hasbro, he participated in branding and the successful launch of Hasbro’s first online subscription service, Hasbro Gaming Crate. Jeff Muller, CTO: Jeff is responsible for overseeing and implementing the technical solutions for Vinylmint. He designed and implemented the web based audio contest platform and continues to implement new features and improvements. He has over 10 years of experience in the software development field where he has designed, developed and supported a variety software solutions that range from web and desktop applications to automated server deployments as defense contractor for the Department of Defense. Dan Konig, Head of Growth: Dan is a SEO and SEM guru who has worked with a wide variety of clients from the technology, e-commerce and law sectors where he has applied nearly 15 years of marketing and analytics experience to improve their marketing efforts on various levels such as website design and organization, paid search campaigns, and social media. Jonathan Field, Head of Content Strategy: Jonathan is former reporter and brand strategist with 10+ years helping to propel growth via a wide range of B2B and consumer branding campaigns. He was a key member of multiple successful new business pitches, often as the strategic lead. In addition, Jonathan has proven a capability for powerful messaging insights, applying research experience to design of services-as-products, a business growth strategy tightly aligned to customer values and needs. Brian Bartlett, CFO: Brian is an entrepreneurial-minded finance leader with extraordinary operational, analytical and planning skills coupled with a roll-up-the-sleeves, energetic, can-do mentality. He has a comprehensive finance and accounting background with significant experience in software as a service (SaaS), software and high tech industries. Brian is adept at being deeply engrossed in the financial details without losing sight of the bigger strategic picture.