Narrathon.TV Live-stream talks with a Q&A voting system Total customer interviews: 114

Bonnie Eisenman: BSE, Computer Science, 2014. The Hacker.

James Chu: AB, Music Composition, 2013. The Artist.

Bereket Abraham: BSE, Mechanical and Aerospace Engineering, 2013. The Dude.

Anne Lee: AB, Economics, 2013. The Hustler.

OffBeat Lessons

Music Educators

Music Students

Off Beat Lessons

Idea: An online platform that matches music teachers and

students +

Provides applications such as scheduling and learning applications that makes music learning easier.

OffBeat Lessons

M u s i c Educators

M u s i c Students

Educators and students need to be matched based on mutually compatible goals for a successful relationships to follow.

P r o f e s s i o n a l Aspirations

Activities for college admissions

Recreational Playing

Parents force lessons

Conservatory Students

Professional musicians

Full Time teachers

Part time teachers

OffBeat Lessons Potential Market Size •  Starting point:

§  Music Teachers National Association lists 22,000 members •  http://www.mtna.org/about-mtna/

§  Conservatory students: ~40,000 students-->if 20% teach, 8000 potential teachers

§  Total: 30,000 teachers o  If Narrathon has 10% market share: 3,000 teachers

§  Assumptions: •  On average each teacher finds 2 students from Narrathon,

avg. lesson cost: $60 and students take lessons 50 weeks / year o  Narrathon generates $18,000,000 total extra income for

these teachers per year o  Assume Narrathon charges 5% commission, total

revenue = $900,000 / year •  Half of them subscribe to bill pay feature and half to

scheduler o  Assume each feature costs $60 / month o  Total revenue = $2,160,000 / year

§  Narrathon's total yearly revenue = $3,060,000

OffBeat Lessons What We Did:

We interviewed teachers, potential teachers, students, and parents

What We Learned: •  Repeatedly -- teachers saying they would try to "cheat" such a

system, avoid paying for student referrals •  Beginning students didn't know what they needed in a teacher,

didn't think premium matching was worth paying for •  Experienced students have solid word-of-mouth and personal

networks

Insights: Small market, difficult to convince people to pay, most people think word of mouth is "good enough"

PIVOT 1

Decided to offer a platform for virtual lessons in addition to our in-person lesson "matching service"

Reasoning: •  Access to teachers outside of local area •  Convenience •  Access to and availability of teachers for obscure / non-

canonical instruments, styles •  Gives students/teachers a reason to stick with our

platform! (so they'll pay us!)

Off Beat Lessons Virtual music lessons

More interviews (both potential teachers and students), insights...

•  Tested online lessons -- ambivalence re: sufficient quality, latency

•  Camera angle problems •  Perception issues

o  Beginner students especially skeptical •  Physical presence/interaction

Insights: reluctance from both students and teachers; tough sell in current environment.

PIVOT 2

Online Lessons

Virtual Classroom / Virtual Masterclasses

Virtual "Master-talks" of any subject with live audience participation

Healthcare

Applications: Evolution of Web Platform:

Music: orchestras, pop musicians

Sports Industry

Conferences and Talks

Matching

Distance learning

News industry

Narrathon: The Vision

Q&A Aggregation System: Real-time Q&A with voting system

Viewers

Narrathon Today

3 Directions: Where To Go? 1) Destination website: we archive all talks, host them on

Narrathon.tv •  Narrathon finds speakers and audiences

2) Rent out the technology as a platform for content partners

•  Solves chicken-and-egg speaker/audience problem •  No need for marketing to find audience or secure

speakers

3) Hybrid: rent out tech, and archive talks on our site •  Syndicated embeddable Narrathons like Scribble Live --

let other sites embed our partner's content for a fee

Customer Discovery

Customer Segments •  News Corps

o  Local / NJ news outlets-no responses from 10+ different organizations

•  Health and Medicine o  Health professionals in private practices, large medical groups

•  Conferences and Organizations o  Business Today, Keller Center panel, Corporate Finance Club, Smart

Woman Securities, Model UN

•  Classical Music o  Small orchestras and large major orchestras and performing arts

ensembles. I.e. Santa Fe Opera, LA Chamber Opera, NY PHIL

•  Sports Organizations o  Newark Bears o  College athletics departments (Princeton, Dartmouth, Columbia...)

•  Decided not to focus on this segment

o  Slow sale cycle o  Large firms can get their own tech crew o  Medium news corporations don't have manpower to

devote to live-streaming topics o  Lack of response from 10+ different local/NJ (small)

organizations

News Corporations

Health and Medicine

•  What we thought were applications in medicine? o  telemedicine but with live video medicine o  lead generation for surgical procedures

•  Narrathon on cosmetic vein procedures with Dr. Clifford Sales

Dr. Sales Talk

Dr. Sales Narrathon Stats •  16 unique visitors / 28 "visits" •  36% from Facebook ads, 21% from Google ads, 39%

direct traffic •  Locations: 17 New Jersey, 5 PA, 3 NY, 2 FL, 1 CA •  1 in 4 viewers was on a mobile device (iOS) •  28% stayed >10 minutes •  Low question activity •  No leads generated

Lessons Learned •  Low traffic...

o  Hypotheses: §  Need to publicize more in advance? §  Random doctors do not have crazed fans

•  1 interview: didn't know that you could click on buttons to vote / schedule an appointment... o  Hypotheses:

§  Better UI needed? §  Or maybe just a more tech-savvy audience...

Conferences & Orgs

•  Interviews: Business Today, Keller Center panel, Corporate Finance Club, Smart Woman Securities, Model UN Conference

•  Successful Narrathon with Keller Center o  One question was asked via Narrathon's live voting

Keller Center Panel

Keller Center Narrathon Stats •  76 visits / 60 unique

o  48 from facebook (!) - 46 from desktop site, 2 from mobile app

o  11 mobile visitors / 49 desktop •  10% stayed for at least 10 minutes •  On narrathon livestream page: 45% bounce rate;

average time on page: 3 minutes •  47 total votes

Lessons Learned from Keller Center Narrathon •  Work on pitch

o  Explicitly mention ability to vote from mobile site o  The idea of a "Narrathon" needs to be better

explained

•  Facebook ads are pretty effective: many votes came from FB referrals. o  But, expensive

•  Most people didn't stick around for entire talk -- but 10% having high engagement isn't too bad?

Overall Traffic (past month)

Referral = Facebook traffic.

SOURCES

LOCATION

VOLUME Keller Center Narrathon!

Music: "Backstage Pass" Idea

•  What inspired us to go to orchestras?

•  What inspired the "Backstage Pass" Idea?

Payment Flow Diagram: Sports & Music

NARRATHON

ORCHESTRA/ SPORTS TEAMS

SPONSORS

ex. $1M sponsorship deal

If orchestras/ sports teams don't pay Narrathon, sponsors pay directly

Pay Narrathon : X% of sponsorship deal for Narrathon element

Music: Customer Archetypes

Music: Orchestra Managers/Directors E.g.: Kevin Flint, Santa Barbara Symphony Orchestra •  In charge of marketing, audience development •  Revenue: primarily ticket sales + patronage •  Interested if Narrathon could increase patron

support

Music: User Archetypes •  Patrons

o  Wealthy individuals who appreciate the arts

•  Regular Concertgoers o  Generally older people with disposable income

•  Casual Concertgoers o  See concerts as a special event or occasional option o  Younger audience, students, etc. o  Orchestras would like to convert them to regular

concert goers

Music: Customer / User Flow Diagram

Narrathon

Orchestras

Concertgoers

Patrons

Pay Narrathon Watch Narrathon -more engagement -feel more invested?

Watch Narrathon Buy tickets

Buy tickets, support orchestra

Sports: "Locker Room Pass"

Overview: •  Over 10+ sports organization contacted with no

response. •  Could have signed a contract with the Bears, but would

have been after the class.

Key Insights: o  College athletics -- cultivating alumni loyalty/

engagement is HUGE o  Big question: how much better is your service

compared to livestream + twitter?

Sports Market Sizing

Pro-Sports Market Sizing: •  Total Games / Year (football, basketball, baseball, hockey): 51461

•  Assumptions: o  About 20% of games will have Narrathons: 1030 games

(Conservative estimate, Newark Bears wanted 100%) o  2 Narrathons per game: 2060 Narrathons / year o  An average of 6 Narrathons / day in the US

§  Per Narrathon: Teams invite 1,000-10,000 viewers §  Up to 20,600,000 (20.6M) viewers

1. NFL.com, NHL.com, NBA.com, MLB.com

Payment Flow Diagram: Sports & Music

NARRATHON

ORCHESTRA/ SPORTS TEAMS

SPONSORS

ex. $1M sponsorship deal

If orchestras/ sports teams don't pay Narrathon, sponsors pay directly

Pay Narrathon : X% of sponsorship deal for Narrathon element

Customer Archetypes

Pro sports: Sales Managers E.g.: Luis Gouveia, Newark Bears •  In charge of tech purchases •  Current purchases: live

broadcasting for games •  His ideal world? Combine

Narrathon + live broadcasts into 1 service so he only has to buy once.

College sports: Athletics Fundraising E.g.: Alexandra Stein, Dartmouth •  Wants to increase alumni,

parent engagement •  Engagement -> donations! •  Her ideal world? Combine

Narrathon + live broadcasts into 1 service so he only has to buy once.

User Archetypes Professional Segment: •  Die-hard fans and evangelists

o  Season ticket holders, eager for more access •  Casual fans

College Segment: •  Parents

o  Parents are "starved" for more info •  Alumni

o  Sense of connection with school, want to feel involved o  Targets for fundraising

•  Local fans o  Some sports at some schools have very loyal fan bases o  Try to make every game-->might be interested as a way to 'catch

up' if they miss a game Top Photo Courtesy: Sports Networker Bottom Photo Courtesy: LW T Shirts

Sports - Customer Flow (Pro)

Narrathon

Sports Teams

Sponsors existing partnership ads / content

provide sponsors

earns share of sponsor $

Fans

watch!

click on ads

Sports - Customer Flow (College)

Narrathon Sports team

Alumni

Parents

Local fans

College Athletics Department

(viewers)

(viewers)

(viewers)

authorizes Narrathon

provides content

+alumni, parents, fan engagement

--"dying" for more info / more stuff about games!

-esp. team alums -annual giving

"Alumni would be THRILLED to present questions and get responses!" --Alexandra Stein, Dartmouth Friends of Athletic Groups Director

Bringing It All Together

Key Activities Analytics:

•  Analyzing user activities and usage-->better target ads for our partners

Sales and Marketing: •  Finding and negotiating with sponsors, partners, and customers •  Talking to customers and users and understanding how to improve our

product-->relaying this to the tech team

Tech: •  Continued web development •  Tech support for events: before and during

Product Development: •  Add features to improve interactivity of our product •  Improve user-friendliness of our product based on user feedback

Costs Assume we host 10 Narrathons / week, for approximately 500 Narrathons / year LABOR (fixed):

1-Programmer contractor, 50K annually ($200 dollars/day) 1-Salesman, 50K, annually 1-Tech support, 50K, annually

LABOR (variable): Camera crew: an average of $200 / hour Assume each Narrathon requires an average of 2 hours of camera crew --> ~1000 hours / year, 200K / year

TOTAL: 350K / year

SOFTWARE (variable): Cloud web server, $30+ / month, $360+ annually-->will estimate 1K / year

Marketing costs on partner Work from home, so no office location, utilities, etc

GRAND TOTAL: 351 K / year for 500 Narrathons, each Narrathon costs $702 Breakeven or profit: if average revenue per Narrathon > $702

Is this a business? Profitable?

We need to further investigate, but: Experiment: need to test with a larger partner, see if we generate enough sponsor revenue + engagement -Reliant on contracts -Based on market sizing, there is a potential for an average of 6 pro-sports Narrathons / day, reaching up to 20.6M viewers even if we only reach 20% of the US market-->there is a huge market Initially...pessimistic for near future.

Sustainable? Unsure.

-Experiment: will fans stay engaged? Or just a 1-time novelty?

-Depends on contracts with partners

Is this a business? Scalable?

Yes, but... -Would need good relationships with local camera crews across the US -Would need easy instructions + improved user-friendliness

Barriers to entry? Yes, if we get contracts...

-Entirely dependent on exclusive contracts and customer/partner relationships -No significant technical barriers

Next Steps --Start with smaller orgs in sports and music , gain credibility, secure larger

partnerships Test: are larger organizations willing to work with us now that we are more

established?

--Have an archive of successful Narrathons from smaller sports and concert venues.

Test: how many viewers do we have for archived events, is this an important part of our product?

--Improve the tech: make the prototype website a real one, create a mobile app., improve the Q&A and comment aggregation system.

--Consider a partnership with livestreaming services like Ustream: create a one-package deal (live stream + interactive Q&A feature)

Test: interview and discuss partnership possibility and terms with livestream service providers--do they want to partner with us?

--Consider other genres in music: pop, rock, folk, country music

Is this worth further investigation? Absolutely: •  A lot of tests remaining...probably worth some further

investigation. o  Didn't get to test it out with the Bears, smaller

orchestras, etc

Not for our entire team: o  Divergent career goals.

James •  Would like to see a Narrathon appear in Young

Person's Concerts with the NY PHIL.

Canvases

THE END.