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Internet Media Partners Inc.
Location: Boca Raton, Florida, United States United States
Founded in: 2005
Stage: Alpha (prototype)
Number of employees: 1-5
Short URL: vator.co/Music-Rewards-Inc
Vatorx1

Internet Media Partners Inc.

Great Fans Deserve Great Rewards!!
Startup/business
Boca Raton, Florida, United States United States
http://www.MusicRewards.com
  • About
Company description

 

When it comes to paying for music downloads, major record labels have always found themselves trying to compete with illegal downloads and younger fans with limited credit card access. According to the 2009 IFPI digital music report, 95% of music downloads are illegal with no royalties going to artists or producers.  As a result, worldwide spending on recorded music is expected to decline 18% from $31.8 billion in 2006 to $26.2 billion in 2011The music industry is starting offering consumers additional services with leading technology partners, but these services are not helping to replace this decline in revenues and major labels are still scrambling to find additional revenue streams.               

 

In addition, credit card issuers are going through their most turbulent times since the introduction of credit cards and potential new legislation and a continued assault from merchants lobbying to cap or reduce interchange rates threatens to reshape their reward program business model.  Nearly identical loyalty rewards programs in the marketplace has also diminished the ability for credit card issuers to differentiate themselves using these programs.  The reason is most rewards programs lack excitement, personalization and do not appeal to a consumer's aspirations, passions or dreams making them less effective in helping to retain customers and influence their purchasing behavior.            

 

Internet Media Partners Inc. has develop a disruptive business model that will dramatically change the way music content is distributed, consumed and monetized online while providing businesses and brands with valuable data and insight into their customers buying habits which will help them improve retention and increase revenues.                   

         

 

 


Team
  • Todd Dugas
    Todd Dugas | Team member
    Todd started out his career in sales at a family owned advertising firm called Adco Company.  After two years he took the role of marketing manager where he developed his first loyalty program which doubled the company revenues in two years.&...
Business model

 

MusicRewards.com will be an interactive community and merchant funded rewards program for music fans globally.  Members can get music news, concert updates, listen to music, network with friends, play games and watch music videos while earning reward points for their participation and for shopping at thousands of participating merchants through our online mall or by visiting the merchant's store.  Reward points will be redeemable for exclusive content, live streaming concerts, MP3 downloads, ringtones, concerts tickets, MP3 players, iPod accessories, concert merchandise and much more.        

 

MusicRewards.com has already secured a strategic partnership with a major reward program which will give our members access to over 600 online merchants like Home Depot, Macys, Barnes & Nobel, Old Navy, Gap, Target, Amazon, Office Depot and over 11,000 local small businesses.  These participating businesses have agreed to pay a commission on each sale or transaction we send them and our members are automatically given a part of that commission in the form of reward points.  Participating merchants only pay when our members spend money at their stores making this pay for performance strategy very attractive to merchants because they see immediate results for the investment they make in the program. It also allows program members to accumulate rewards more rapidly and helps merchants enhance their brand by allowing them to associating it with other top retail brands.          

 

MusicRewards.com will also be providing a sophisticated loyalty marketing capability to smaller businesses and brands that could never build and sustain a significant program alone which will help them acquire new customers and drive customer loyalty.  The concept is quite simple, our members get exclusive content and rewards and participating merchants and advertising partners get engaged users.     

Competitive advantage
   
  • First to combine loyalty rewards model with social networking & online music retailing
  • Virtual rewards currency will target profitable behavior change.
  • Participating merchants will have a way to measure their return on investment.
  • Pay for performance model offers little risk to participating merchants.
  • First to combine loyalty rewards model and engaging content
  • Primary revenues will come from merchant fees not advertising.
  • Music industry will get a new distribution channel and revenue source while reducing piracy and building sustainable relationships with music fans.
  • Sale of rewards currency to third party strategic partners and application developers looking to drive purchase behavior.
  • Targeted advertising based on proprietary database of buying habits, preferences, survey data, offer responses and segmentation.
  • Private label virtual currency monetization platform for social apps and games