In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.VISIT NEW SITE
ToneDen to boost Megastar Millionaire test run
2 minute read
An online singing competition which offers an ultimate prize of $1 million is certainly one way to take talent contests to the next level. Teaming up with a leading music marketing company to run a pre-launch ‘closed beta’ competition with a $10,000 prize is another. And that’s all before Megastar Millionaire officially launches in Q1 2017.
This month, MSM Corporation – the digital technology and entertainment company behind Megastar Millionaire – will kick off the test run involving 1000 performers with the support of their strategic partner ToneDen Inc.
ToneDen have been nurturing music talent on a global scale for years, and currently have a growing database of more than half a million users. Today’s announcement from MSM to tap into ToneDen’s database for the closed beta competition is the latest in a string of strategic developments between the two companies as they join forces for a project generating a lot of buzz.
Strengthening the partnership with ToneDen
MSM Managing Director Dion Sullivan recognises the importance of accessing ToneDen’s global community of performers and fans in what is a crucial stage of development and refinement of the platform.
“ToneDen gives Megastar Millionaire’s performers a chance to showcase their talents to a fan base that numbers in the millions. This significantly amplifies the reach of our platform and builds a strong foundation for taking the first season to launch in early 2017,” he said.
With market research from July showing potential Megastar Millionaire users could be willing to pay up to AU$82.95 to participate, as well as the appointment of some key players in the entertainment industry to MSM’s board, the future of the venture looks promising.
However MSM is still in its infancy and thus anyone looking to add this stock to their portfolio should take this into account and seek professional financial advice before investing.
Considering it’s been 14 years since the first episode of American Idol, the original televised singing competition that boosted talented no-names to notoriety, there have been numerous incarnations of the highly popular idea – so it’s not surprising that audiences might be ready for the next evolution, and it won’t come as a shock to hear that the future of talent shows is likely to be online.
Executive director for MSM Corporation International Australia-Pacific, Sophie McGill, described their new platform like this: “What we’re trying to be is the most democratic talent show in the world. You tell us what talent is and you vote for it.”
At its core, Megastar Millionaire’s selling point is as an online-only video-based talent competition which, while set to capitalise on the appeal of its TV-based predecessors (X Factor, The Voice), is set to add elements of online gaming and social media to the user’s experience.