VirtualArtsTV
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The document proposes re-inventing the performing arts industry by making it global, interactive and live through an online platform called VirtualArtsTV. It notes that the $14 billion performing arts industry is struggling with declining audiences and revenues. VirtualArtsTV aims to introduce new revenue streams by live streaming multi-camera productions of plays and arts events online in an interactive format combining traditional performance, online video, social media and live streaming. It proved successful in a pilot project and aims to establish itself as a destination for live streamed performances and help other arts organizations do the same globally.
VirtualArtsTV
- 1. Turning the Performing Arts into an Interactive Global Event Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv
- 2. Business Overview ≒Re-inventing the performing arts for a wired twenty- first century audience so that it is Global, Interactive and Live Thereby ≒Introducing new revenue streams to the $14 Billion performing arts industry In comparison, Americans spend ~$20 billion on sports admissions & ~$10 billion on movie box-office tickets. Source: Bureau of Economic Analysis, U.S. Department of Commerce Presented to StartUpOneStop, May 15, 2012 http://VirtualArts.tv pg 2
- 3. Opportunity: Performing Arts Market 14 Billion Dollar Industry in Crisis ≒ Audiences are in decline ≒ Employment lowest since 1990 ≒ Administrators struggling to raise funds ≒ Industry grappling with how to: ≒ Cultivate new audiences ≒ Create new revenues ≒ Create more arts jobs ≒ Incorporate new technologies Source: 1982, 1992, 2002 and 2008 Surveys of Public Participation in the Arts Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 3
- 4. Insights: Related Media Markets Online Video ≒ Ad-spending expected to increase to 7 Billion by 2014 (eMarketer) Live-Streaming Social Media Digital Performing Arts ≒ Viewership grew 650% ≒ Reaches nearly 80% of in 2010 (Comscore)" ≒ More Americans view or listen ac&ve U.S. Internet users to broadcasts & recordings of arts ≒ 1.4 billion+ minutes on events than attend live (NEA) * ≒ Frequent arts major publishers (Justin.tv, ≒ ~40% used the Internet to view, attendees are most USTREAM, Livestream, LiveVideo & listen to, download, or post likely to be influenced Stickam) artworks or performances (NEA) by social media (LaPlaca Cohen) ≒ Expected to double * live theater is sole exception as it is rarely revenues in 2012 available in broadcast or recorded form" Online Culture ≒ 78% of U.S. adults and 95% of U.S teenagers use the internet (PewInternet 2012) Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 4
- 5. Conclusion: The audience isnt in decline, its online VirtualArtsTV р First producers of interactive, live-streamed video plays р A new model of online entertainment р Multi-camera productions of live-streamed performing arts tailored specifically to a social, online video experience equal parts - р traditional performing arts р online video р social media р live-streaming event Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 5
- 6. Proof of Concept First Live-Streamed Interactive Video Play Better Left Unsaid TV January 2011 Click play to be taken to highlights from Better Left Unsaid TV (1:38) ≒3 performances 50,000 unique live viewers ≒No marketing budget ≒Global, interactive audience ≒Viewers chose to pay more than they pay for a month of Hulu Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 6
- 7. VATV Competitive Advantage ≒ A passion for the performing arts & digital media that has lead us to bootstrap innovations on live-streaming platforms since inception ≒ Repeatedly produced successful firsts on the live-streaming platforms ≒ Track record of bringing "impossible" projects to fruition Team Expertise Creative Product Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 7
- 8. Management Team Kathryn Jones CEO David B. Cohen Chief ≒ Innovator on the live-streaming platforms Marketing and Sales Officer since their inception in 2007 ≒ 20 Years in Advertising Industry ≒ Produced first ever live-streamed web series, webathon and interactive video-play. ≒ Former Communications Planning Director at OMD working on the Lowes, ING & Wachovia ≒ Former VP business development for online accounts video start-up (brands include Panasonic and Dice.Com) ≒ Former Partner, Group Planning Director at Mindshare on American Express & Bristol ≒ Worked in online video since the industrys Myers Squibb accounts beginnings ≒ Consultant for AlphaSights, Digital Trends, the ≒ Professional actor for 20 years Neighbor Agency, Mindshare USA, Good Crush & Random Dorm (Dogpatch Labs/ Polaris ≒ Theatrical producer since 1998 Venture Partners) & Zenith Optimedia ≒ New media consultant ≒ B. A. Montclair State University ≒ Speaks about online video and social media at meet-ups and conferences throughout the ≒ Digital Media Marketing Professional Certificate, New York University United States ≒ B.S. Northwestern University Joey Brenneman - CVO Erin Bigelow VP Broadcast ≒ Former artistic director of the award winning Design and Technology STAR Theater/ The NiteStar Program ≒ 11 years working in live television production ≒ Award winning director of both theater and ≒ 4 years at ABCNews with the Director of video "Good Morning America ≒ 20 Years professional stage and commercial ≒ Former TD/Director of CN8-The Comcast actor Network -, Backstage with Barry Nolan,, Out ≒ Theatrical producers since 1996 of Bounds ≒ Writer and director of Better Left Unsaid the ≒ TD/Director and Production Coordinator of the first live-streamed video-play. local NBC affiliate in Flagstaff, Arizona ≒ BFA, New York University ≒ B.A. Electronic MediaProduction, Northern Arizona State University
- 9. Next Steps 1. Further establish VATV as go-to destination for streaming of live- performance 2. Create a proprietary live-streaming platform uniquely tailored to streaming performing arts 3. Enable performing arts companies and schools from around the world to VATVs next live-streamed video play is harness the global reach of the Abstract Nude, by Gwydion Suilebhan nascent live-streamed performing arts industry Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 9
- 10. Business Model Four immediate sources of Year 1 Year 5 revenue: Income Income $(MM) $(MM) Sponsorships $0.30 $7.40 Work-for-Hire $0.30 $1.70 Ticket Sales $0.02 $0.80 Consulting $0.08 $0.20 In descending order of volume
- 11. Competitive Analysis ≒ There are 5 classes of direct & indirect competition ≒ Companies included in our analysis include GoSeeDo, NewPlayTV, The Camden Fringe Festival, Hamlet Live, TheMet:Live in HD, San Francisco Opera, Joes Pub and Broadway Near You Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 11
- 12. Financing Overview Key elements: ≒ Plan to move to ticket sales after Year 2 ≒ Increase to 5 projects in Year 3 & up to 10 by Year 5 ≒ Added staff would include CFO (or other) & CTO (or other) Presented to Crowdfunder, May 15, 2012 http://VirtualArts.tv pg 13
- 13. Thank You!