So you want to be a megastar… and a millionaire?
MSM Corporation International Limited (ASX:MSM) officially landed on the ASX today. MSM is a “technology and entertainment” company focused on talent discovery and online participation of entertainment content.
MSM’s flagship product offering is the Megastar Millionaire venture which connects artists and performers with their fans as part of an interactive ‘gamification’ experience capturing multiple audiences, from all age groups.
In order to go public, MSM successfully raised A$7m as a part of the reverse takeover (RTO) of Minerals Corporation. The oversubscribed issue of 117 million MSM shares at $0.06 per share was raised at an indicative market capitalisation of A$16.5 million.
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).
Further exacerbating MSM’s optimism is the fact that TV viewership is declinling worldwide, especially amongst 18-24 year olds that are the quickest to embrace online alternatives.
Megastar Millionaire has already established strategic partnerships with Silicon Valley-based music content and community platform developer ToneDen Inc, 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 and contest with the ultimate goal of creating a “highly personalised digital entertainment experience”, according to MSM Co-Founder and Executive Director Dion Sullivan.
“We are developing a model and brand for an industry-redefining talent discovery competition and content delivery platform to capitalise on the significant opportunity of the global social gaming media market,” said MSM Co-Founder and Chairman Adam Wellisch.
Helping MSM’s cause is John Baldecchi, a recent addition to MSM’s Advisory Board, and a seasoned Hollywood producer having worked on cult-classic titles such as The Mexican, Conan the Barbarian, 88 minutes and the remake of Point Break, released last year.
On the investor side, Megastar Millionaire has attracted the support of US tech investor Doug Barry. Mr. Barry was a founding investor in music streaming service Pandora and an advisor to TiVo.
The premise behind Megastar Millionaire is to allow people to easily showcase their creative talents to a global digital audience whilst offering significant advantages over traditional television platforms.
Contestants who want to monetise their creativity, have the chance to win a US$1 million winners prize as judged by an independent panel, as well as an opportunity to star in a film. MSM will launch its first season of Megastar Millionaire in the US, lasting 16 weeks including auditions and a judging round.
Proceeds from the A$7m capital raising will primarily fund the development and promotion of the Megastar Millionaire talent competition, along with sales and marketing to deliver a disruptive, online talent discovery and curation platform.