Surfair
Next Big Sound
Location: 2149 Sherman Ave., Evanston, Illinois, United States United States
Founded in: 2008
Stage: Revenue generating
Number of employees: 1-5
Short URL: vator.co/The-Next-Big-Sound-Inc-Making-Bands-Famous
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Next Big Sound

Making Bands Famous
Startup/business
Evanston, Illinois, United States United States
http://nextbigsound.com
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Company description

The Next Big Sound shifts the current music industry model on its head by allowing anyone the chance to play the role of an record executive, signing bands they think will become famous to their own personal record label. Think fantasy sports but for music.


Business model

The Next Big Sound is in the business of market creation for bands.  This is accomplished through the following process: Listeners go to The Next Big Sound to stream great new unsigned music they have never heard before. When they hear a song that catches their ear they can click on the artists name and are directed to the artists' individual profile page.  They can listen to the rest of the four song demo, read a bio, see upcoming shows, see influences and band members. If they like what they see they are able to sign the band to one of their 10 limited roster spots. Users on the site, who we call "moguls," are given one point for every person that signs a band after they do. As their bands rise in popularity they are awarded with silver, gold, platinum and diamond distinctions and awarded additional roster spots.

 

Once a band has been signed a certain number of times we will open a store selling their music and merchandise to the fans that helped push them to popularity and to the general public. After a certain point we will become a "next generation record label" with an innovative method for scouting new talent.

Competitive advantage

As part of our market research we have compiled detailed reports on over 50 online music sites. The Next Big Sound is positioned at the exciting intersection of music and online gaming. Users have told us they are addicted to checking their score and seeing which other moguls have signed their bands after they have. Games like Guitar Hero and Rock Band allow people to live out their rockstar dreams. The Next Big Sound enables users to simulate the record mogul fantasy. Also, dealing exclusively with up-and-coming unsigned artists avoids negotiating costly rights with the four major labels.

Unlike most of our competitors The Next Big Sound does not aim to recreate MySpace where bands can favorite other bands, users can friend every other user and add unlimited songs to their playlists. Our site is focused on the music and is one of the few sites where users can stream full uninterrupted tracks.

Moguls on The Next Big Sound can only sign 10 bands initially. This limitation is the crux of the site. The scarcity of roster spots forces moguls to prioritize and creates a valid and high quality prediction market. Like successful record labels, more spots will open up as moguls reach certain score plateaus.

 On most online music sites there is little motivation to search through the hundreds of pages of artists. It is easy for listeners to find bands they already like, but difficult to discover quality new music.  Did you know there are over 4 million bands on MySpace?  People need a way to sort through all the noise and a way to be publicly recognized for their musical discoveries and trendsetting talent.