We seek funding for Marketing and Advertising of the new mobile product, so that we can roll it out to the market. Payback period is 1 year. ROI is 30%.
The project entails developing and selling Kenyan Karaoke-Style Sing-Along Videos for mobile platforms. We have set up a production office in Nairobi, the capital city of Kenya, to develop the videos, and a Mobile System through which we shall sell the content.
The product is Mobile Sing-Along Videos, and is the first of its kind in Kenya. It will enable the users to transform their phones into personal Karaoke companions.
In Kenya, there are about 28 million active mobile phones – our potential market.
We have developed a mobile platform where users will be able to subscribe and download content. Each subscriber will be charged USD 0.1 per day, which will translate to 3 USD per month. With good Marketing resources we will target 100,000 subscribers within the first year. Our Net Revenue after Paying Taxes and Network fees plus Royalties for the songs is 20%. So, for 100,000 subscribers at 3 USD per month, our revenue will be 20% of 300,000, which is 60,000 USD.
We are the leading provider of Karaoke in Kenya and have seen a high demand for Kenyan Karaoke Content, so we have opted to respond by developing the content for mobile phones.
The Videos have been developed and are added weekly. The platform to offer the videos is also operational. The platform works on all internet enabled phones, Wap portals, etc. We are working on developing applications for different phones, which we shall upload in the respective app stores.
The Project’s timeline is one year. And the key milestones we shall use refer to the number of subscribers based on our marketing efforts:
First Quarter: 20,000 Subscribers
Second Quarter: 50,000 Subscribers
Third Quarter: 75,000 Subscribers
Fourth Quarter: 100,000 subscribers
We are the Leading Provider of Karaoke in Kenya and thus well knowledgeable of the demands of the industry.
In Kenya, the main mobile entertainment is ringtones which offers only a short clip of the song. Our product offers the full song plus the video containing graphical lyrics synchronized with the song.
The subscription package we offer is at a bargain. The price would be only 3 USD per month.
Funding is required to facilitate Marketing and Advertising.
Payback period is 1 year.
ROI is 30%.