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Big Idea: Hudba

Quick Pitch: iTunes meets Pandora meets Ticketmaster meets every band’s website meets Netflix.

Big Idea Name: Hudba. Hudba in the Czech language means “music.” Sure, a new name might be needed for marketing purposes, but at least this is a decent start.

Hudba Logo
This image was made thanks to Bramandsons

Business Pitch: With the current music industries distribution from CDs to digital media, they have struggled to keep up. Consumers have turned to pirating for their musical means. The industry has made partnerships with many different companies to sell their products and business promptly picked up. However, the issue comes in sharing the overall pie across so many different companies and keeping the products and services interesting every day.

Hudba provides the central location for all things music. Here are some of the many functions and features of the Hudba community:

  • Purchase music via the large and comprehensive library – A music library that provides thousands of artists, albums, and singles across multiple genres.
  • Music recommendation based on smart algorithm and music genome project. Currently Netflix provides a great interface and recommendation system to allow individuals to find more movies and builds further interest in the service by making the recommendations more accurate and personal. The music genome project currently employed by the Pandora service already provides quick, accurate recommendations based on similar artists. By providing suggestions that closely match a user’s tastes, impulse buys can result providing greater revenue.
  • Simple music updates and reminders – Individuals can purchase music and signup for artist updates. Updates could include: new album releases, upcoming tours, band blog posts, etc. Often consumers find artists they enjoy but have difficulty remembering to check yearly for new albums or look for upcoming shows in the area.
  • Merchandising and ticket sells direct to consumers – With consumers signing up for updates at the time of purchase, further sells can be managed with the checkout. As consumers purchase albums, a recommendation could be made that the artist will be appearing locally at a venue and tickets are sold.
  • Band page personalization – Bands control the amount of marketing found within each artist page. This information can control the albums released, blog posts from band members, and the ability to create small fan communities that receive the latest and greatest information.
  • Social Media Connection – The internet is now a social place to interact with anyone and everyone. By providing integration with multiple social sites such as Twitter and Facebook, an artists latest creations (music, videos, etc.) can be spread into the internet wild in an effort to reach mass population.
  • Customized dashboard – Customized rss feeds or updates (stated above) could be generated in order to develop a central dashboard within the Hudba system that provides the relevant information that interest the user. The dashboard could provide quick feeds to news, upcoming starred/tagged albums, suggested recommendations (automatically and socially), and upcoming tour dates in the area based on purchases and recommendations.

Who to Pitch To: Record Companies, RIAA

Competitors: Apple iTunes, Napster, Amazon Music

Acquisition Potential: Any of the major competitors mentioned above would love to have this service as well as additional future players within the space (such as Google) who want to provide a simple interface to direct consumers to the music that leads their lives.

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