Introduction to FDO and How It works Applications _ Richard at FIDO Alliance.pdf
Deck
1. The online marketplace for crowdsourced
music recording
hello@crowdtracks.com - @crowdtracks - facebook.com/crowdtracks
2. Problem
• There is a ton of awesome “broke” musicians all over the world (hurts to say but true)
• Costs for recording studio time, session musicians, or sound designers for soundtracks,
sound effects and video games are high and turn around times are slow.
• The music business depends a lot on location of musicians.
3. Solution
• We gather awesome musicians from ALL over the world.
• Crowdsourcing on a contest based model guarantees high quality (or your money back) and
speedy delivery times at a small fraction of the current costs.
• From any where around the world with a low cost home studio musicians can collaborate
an propose tracks for each contest and start monetizing their skills.
4. Why now?
• Tech has changed the music industry a LOT and for GOOD, but most of these changes have been only
on the consumer side of the industry. Napster, grooveshark, itunes, Spotify, Pandora are great
examples of this.
• With the growth of home recording, and the power of crowdsourcing we can begin changing the
industry on the music creation side of things, on the sound engineering side if you will.
• Check 99designs.com or designcontest.com and you can see that this is already happening BIG on
the graphic design industry, so the model is validated. Lets do it with music!
5. Market size
• There’s over 28 million musicians (online users that are related to musical instruments brands, home
recording, mixing and producing. facebook advertising tool*)
• The music business was worth $16,5 billion USD on 2012. IFPI's Digital Music Report 2013*
• Video game industry is projected to reach $84 billion USD on 2014 (video game need music!). Ft.com
Financial Times
• The online staffing industry was a 1 billion USD on 2012 and growing on double digits.
http://www.staffingindustry.com*
• We still need more data from our MVP to Project what we realistically want to capture these markets,
though if we were to capture a small percentage the numbers look promising.
6. Traction
• In our first couple of months with a live MVP we’ve registered over 1900 musicians from all
over the world with with an investment of no more than $400 USD.
• We've managed to get a musician acquisition cost of $0.17 after a lot of learning.
• We chat regularly with our musicians:
• “I congratulate you for this cool project ” from Mexico
• “I think what you’re doing here is great ” from United Kingdom
8. Product
• Crowdtracks in 3 simple steps:
1. Contest holder launches a contest, he can ask for individual instrument tracks (like a lead guitar to mix later with his own project),
mixing, mastering or production services, soundtracks or sound effects for video or games, and even full songs or jingles.
2. Get proposals from our musicians from around the world and give them feedback.
3. Select the best one or his money back. If successful crowdtracks keeps a fee.
• We have our working MVP on http://crowdtracks.com (needs design work!) though you can see our
new design prototype http://crowdtracks.com/newbeta
9. Business model
• We charge a posting fee for the creation of each contest.
• We charge extra for premium posting services like private contests hidden from search
engines and from non registered musicians, or for featured listing postings.
• Contest holder pays upfront so we can function as escrow and guarantee payment to our
musicians.
10. Team
• Juan Canal – Co-founder, CEO. @juancamilocanal
• Industrial Engineer, complete geek, learned to code on his own, use to be in a
punk rock band!
• David Silva– Co-founder, CTO. @dvidsilva
• Hacker, coder, multiple hackathon winner including angelhack Bogotá
