Business Model Review for global acceptance.
• Restructure the payment of royalty from a fixed 70% to a range 60% – 80% reward system to Artist and record company. This welcome new artist and retain established artist.
• Sales of Artist memorabilia and strengthen advertising content revenue funds as this augment for revenue services the free tier
• Deploy Smart technology apps that are user friendly and sensitive
• Device a loyalty reward system that provides rebate and incentives for long staying subscribers and extension of discounts to high school students
• Artist classified in the low range payment may be disgruntled and pull out of relationship
• Cut down in operating cost
Establishment of global brand and presence
• Continue to explore new markets around the world- Africa and Asia have huge middle age population yet to untapped.
• Secure collaborative partnership with international artist for tour and concert sponsorship, sales of Memorabilia
• Increasing the number of Premium subscriptions by extending discount to a wider age range and attract more globally acceptable adverts serving as a powerful, strong medium for international corporations
• Promote diverse numerous music genres and styles to satisfy global audience
• Explore partnerships and promotion with other companies as a medium to grow the market and in-road to other countries.
• Acquisition and merger of competitors who have local presence
• Internet access and infrastructure in emerging market is at infancy- yet to be developed.
• Illegal file-sharing is growing problem in the music industry; weak laws and regulation outside Europe and America do exist.
• Break even and profitability may be delayed due weak infrastructure and other social-political issues in the developing countries.