Megastar Millionaire eyes strong fan base courtesy of ToneDen
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MSM Corporation (ASX:MSM), the developer of the Megastar Millionaire brand, has revealed its key investment partner, ToneDen, has doubled the number of registered artists on its books since MSM made its investment into the company back in August 2015.
In Q4 2015, ToneDen recorded more than 250,000 registered accounts which works out to around 10% month-on-month growth. ToneDen says it now also has 2,000,000 registered ‘fans’ compared to 100,000 in August last year – a growth rate of 13% month-on-month.
ToneDen is a music creation software platform helping millions of artists connect directly with their fans online. Recently relocated from Silicon Valley to Los Angeles with the aim of “better integrating into the music industry”, ToneDen is one of the Internet’s foremost and progressive music growth communities with prime focus on artist-fan interaction.
MSM Co-Founder and Executive Director Dion Sullivan says MSM’s investment in ToneDen last year was due to “three key attractions; the quality and technical capability of the [ToneDen] team, their ability build, grow and promote its community, and their sense of innovation”.
Mr. Sullivan said that MSM will be “working with ToneDen to pre-market Megastar Millionaire to their existing and future artists” while “promoting Megastar within the music industry”.
The Megastar Millionaire platform looks to monetise the recent attraction of talent-search TV programmes such as ‘X-Factor’, ‘American Idol’ and ‘The Voice’ by embracing online video, online gaming and social media as part of the user experience.
MSM’s ambition is to reach and surpass existing talent-search variants that do not take advantage of the surge in online participation. American Idol is exclusively broadcast to TV viewers in the US, and is currently valued at US$2.5 billion (A$3.6 billion).
With ToneDen building subscribers and fans at an accelerated pace since last year, MSM is quietly confident ToneDen’s user database can be leveraged to improve the commercial performance of its Megastar Millionaire brand, expected to launch later this year.
Tim Thimmaiah, Co-Founder and CEO of ToneDen said, “We look forward to collaborating with MSM through 2016 to execute on our mutual vision”.
In addition to ToneDen, MSM has also established strategic partnerships with next generation studio/distribution platform Digital Riot Media LLC and leading talent agency ROAR LLC. These partnerships are expected to directly assist MSM’s development, marketing and conduct of the Megastar Millionaire platform.