LessonUp Overview Deck

Transcript

1. Blake West - Founder, CEO blake@lessonupmusic.com 443.691.6212 Will Lawrence - CTO will@lessonupmusic.com 528.669.7582 Khan Academy Souped Up for Music Monday, October 8, 12
2. • Wharton 2009 • Pro musician • 10 years teaching kids • Run (and founded) profitable music lessons matching service Blake West — Founder, CEO • Penn 2010 • Full stack development • 2nd startup • Music minor Will Lawrence — CTO Mike Sall — Lead Designer | Penn & Wharton 2009, Adobe Team Monday, October 8, 12
3. • Expensive ($60/hr and up) • Ineffective practice sessions • Limited teacher access • Difficult notation MUSIC LEARNING TODAY STUDENTS EDUCATORS • Can’t scale time • No differentiation • Low income • Limited market at price level LessonUp addresses these with.... Monday, October 8, 12
4. iPad iPad 12:34 PM 12:34 PM Home Search Artist Someone Like You, Adele Level 2b, Pop Performance Performance Lesson Lesson America (My Country Tis... Samuel Francis Smith Level 1b, Patriotic Someone Like You Adele Level 2b, Pop The Tempest Beethoven Level 3a, Classical Fur Elise Beethoven Level 3a, Classical Just The Way You Are Bruno Mars Level 2a, Pop Swan Lake Tchaikofsky Level 3b, Classical Crazy Train Black Sabbath Level 1b, Rock Wouldn’t It Be Nice? Beach Boys Level 1b, Pop Rage Over the Lost Penny Beethoven Level 2b, Classical Song Difficulty Genre COMPREHENSIVE MATERIALS Huge selection means you never have to buy books again Videos plus sheet music (Hummingbird or traditional) for each song Monday, October 8, 12
5. iPad iPad 12:34 PM 12:34 PM Home Somebody Like You, Adele A B C D C 0:33 / 0:53 TAILORED EXPERIENCE Learn faster using slow-down, looping, and chapters Virtual keyboard and score-sync keep it clear and in context Monday, October 8, 12
6. HUMMINGBIRD NOTATION “It’s much more easier” 1/4 1/8 1/16 1/32 One two three o’clock four o’ clock rock ve six seven o’ clock eight o’clock rock Diya, 6 yrs old “Can we do all our songs like this?” Emmy, 8 yrs old Patent pending Visually intuitive with mnemonics Monday, October 8, 12
7. iPad iPad 12:34 PM 12:34 PM Home Somebody Like You, Adele 1:05 / 1:47 both hands A B C D C right hand EDUCATOR BENEFITS Semi-private lessons are possible (1/2 price, 2X rev) Rev share on subscriptions Larger market size Monday, October 8, 12
8. DOES THE MARKET CARE? STUDENTS EDUCATORS • 55% of surveyed parents said they “probably” or “definitely” would buy this app • “We’ve been looking for an edge, and this could definitely be it.” – Eli, manager at Austin’s largest music school Monday, October 8, 12
9. COMPETITION Free, big library, uncurated, dubious quality, just a video player Free, decent video quality, no sheet music, just a video player, terrible mobile offerings $30, Guitar Hero w/ real guitar, no humans teaching, adult student focus $15/mo, high quality videos, no virtual board, just a video player, adult student focus Monday, October 8, 12
10. REVENUE MODEL Subscription $10 per month Variable Costs ~$5, includes: Gross Profit ~$5 per month Gross Yr. Profit $1M = $5 * 12 * 17K • Channel (Apple app store, school referrals) • Music Licensing (music publishers, content creators) • Credit card fees • Web services (server, hosting, ops monitoring) Initial User Target 15K - 20K annual users (1 % of total market) Initial Target is the 2M* private piano students paying avg of $150/mo. *Target market estimated using the 2009 Census, outside research from Hal Leonard and extrapolating from internal survey data of Austin schools. Monday, October 8, 12
11. LARGER OPPORTUNITIES Expand content: Guitar, voice, and adult learners are much of the other 23 million players* Other revenue streams Licensing or directly selling Hummingbird sheet music. Instrument rental services. Compelling new products Pitch detection for interactivity. Music learning games *Based on 2009 census that 25 million Americans play regularly. Then we subtracted the initial target of 2 million private piano students Monday, October 8, 12
12. •Testing with schools in Jan. ’13 •Provisional patent on Hummingbird; ongoing user testing •Notation translation software in development •Validated initial features, price point and idea with schools and students CURRENT PROGRESS Monday, October 8, 12
13. Thoughts? Ideas? Want to beta test? Reach out: blake@lessonupmusic.com CONTACT Monday, October 8, 12