Dear Investors,
We are excited to announce Fan Party! a dynamic new booking platform and app that will allow music fans the opportunity to book house shows with local and touring artists while helping artists supplement their income by booking shows through their fan base.
Live entertainments bookings is a $200B market globally and a $7B market in the United States. Our vision and passion is to help music fans and artists further connect through tangible experiences and become the Airbnb of artist/fan booking apps within 5 years. Our year one revenue projection is $2.5M with 87% growth YOY and revenues of $31M by year 5.
We are seeking an Angel investment of $500,000 for 20% equity and a 5-year exit for 12 months financing. The investment will be used for platform and app development, marketing, and customer acquisition.
Thank you for your time and warm consideration.
Best Regards,
Keegan Pitz
Founder | CEO
p: 602-481-5573
e: kpitz@rockstardreams.com
www.fanparty.net
My vision and passion is to help music fans and artists further connect through tangible experiences and scale Fan Party! to become the AirBnB of artist/ fan booking apps in the U.S. and globally within 5 years.
Fan Party! is a booking platform and app that will allow music fans to book house shows with local and touring artists and help artists supplement their income by booking shows through their fan base at a $10 booking fee per transaction.
I have over 10 years of enterprise level advertising and software sales experience selling into C-Level, VP and Directors at Fortune 1,000 companies. I'm an expert in B2B and B2C sales and marketing solutions, business development, aligning strategic partnerships and taking a consultative approach to executing strategic plans in addition to over 15 years of experience in music journalism, events, and artist relations.
Live entertainment is a $200B market globally and a $7B market in the United States. While digital downloads and music streaming services have disrupted how fans listen to music, they still crave tangible experiences as concert and music festival revenues are at an all-time high. Fan Party! will create a platform so fans can further connect with artists and invite them into their home or venue space to play a personalized and intimate show. Barriers will be removed from traditional venue bookings and artists can have the means to book additional shows, and further supplement their income while engaging with their fans. It will be free to create a profile, then a $10 USD booking fee per transaction will be assessed. 100% of the ticket or door sales will go to the artists and fans as they agree, further incentivizing them. We have a funnel of artists and their fan bases in waiting to beta test Fan Party! through the community we've built with Rockstardreams.com, a digital music magazine. As we acquire customers and scale, additional revenues will come from a monthly subscription option at $19.95 per month for regular users of FP! Further revenues will come through affiliate partnerships with Event Helper, Uber, Postmates, Saucy, and Grub Hub. We plan on rolling out Fan Party! in the U.S. in 2019 then globally in multiple languages by year 3.
Problem
-Competitive bookings and limited music venues per market
-Top-tier artists booked first
-Radius clauses
-Need 1-3 months advance notice of show date to book venues IF you get booked
-Venues, talent buyers, booking managers take a % of ticket sales
-New artists have a tough time booking shows in new markets and setting up tours
-Travel expenses to go on tour can outweigh a new artist's tour income
Solution
-Fan Party! is a booking platform that removes barriers and allows artists to book shows directly with their fanbase
-Fans can make money hosting house shows for local and touring artists
-Fans list their home, apartment, or event space and can browse artists or accept inquiries
-Artists can book shows anytime browsing local and new market fan hosts
-Artists can supplement their tour income, or book an entire tour through fan hosts
- Artist/fan hosts split ticket and door sales 50/50 or agree on a variable split
Our target market includes:
1) Passionate music fans, men and women ages 18-30
2) Casual music fans who are interested in making extra money hosting shows
3) Bar, clubs, and venues that are looking to fill shows and slow nights Sunday - Thursday
Our competitors include Gig Salad and Gig Town, which are platforms that have searchable databases of artists to book for private events at cost and a percentage of the booking ask. Also, SoFar Sounds which is a pop-up style sweepstakes where artists can submit to play shows that are hosted at coffee shops, homes, and businesses but have no control over bookings and only play if they're selected. In addition, there is a limited amount of tickets distributed to fans each show.
Our competitive advantage is that we have created a funnel of artists and fans through Rockstardreams.com, we are removing barriers so artists and fans have control over bookings and the experience they want to create, both fan hosts and artists are incentivized to make money, artists can book local shows and even an entire tour through their fans and have mobile flexibility to add fan shows while on they are on the go.
Keegan Pitz - Founder | CEO has over 15 years of experience in music journalism, marketing, enterprise sales and business development. He has consulted, structured and executed multiple advertising and SaaS deals with Fortune 1,000 companies and start-ups. He helped launch the Bay Area office for the U.K. based executive search CRM software provider, Invenias Ltd as employee #1. He is a Recording Academy member, journalist, and has a passion for music culture.
Lawrence Tucker - CTO is a Software Developer for 21st Century Fox and skilled in React, React Native, Angular, .NET, and as a Full Stack Developer with over 10 years of experience.
Nicholas Woodson - COO is a Full Stack Engineer and UI/UX Designer skilled in jQuery, Databases, HTML, Software Development, and JavaScript.
Jared Kjar – Applications Developer has built applications for organizations including C.R. Laurence Co., Advanced Alloy, and BabbleDabble using ReactJS and AngularJS, Redux, and Redux-Thunk/Observables with Epics.
We are really excited about the potential of Fan Party! as we begin to focus on customer acquisition and the overall artist and fan experience. We will continue to benchmark and improve the platform based on what artists and fans tell us is the most important to them when crafting bookings. FY year 1 we project $2.5m in revenue and $31M by year 5 with our core business model with additional revenues coming through the subscription model and affiliate partnerships. We have a chance to leave a global footprint and carve out our own lane in the music industry as we grow and further align with strategic partners and big brands to further curate experiences. There's also an opportunity to get acquired by Live Nation or AEG which is a really exciting prospect.