RE: Frustrated21 Jan 2021 00:03
part 1
rikkitikki, thank you for the detailed answer. I have few comments and would be very grateful if you can comment on them too.
1) Gore theatres. Since the admission document did not say a word about theatre, I think we should forget about it, at least until the launch of the new app. As many people here said, there can be various reasons why it did not work as planned. But for now, I would really lower the expectations to zero.
2) LiveNation update. This is another sad story. The RNS about partnership says that it is 'exclusive' for live virtual reality concerts. The scary thing is the following. Fact #1: MVR is a specialist in VR but there are many companies which develop solutions for 'conventional' 2D streaming. Fact #2: there were a few concerts in VR (Tom Greenan, Rattlesnakes) but the last one -- Liam Gallaher -- is in 2D, and silence after that. Fact #3: section 2.7 in AD says "On 13 November 2020, Frank Carter and the Rattlesnakes performed at the O2 Academy Brixton, with a series of further artist performances scheduled during the weeks leading up to Christmas 2020, all of which will be live-streamed on the Company’s platform." The important part is "further artist performances" -- plural. There was only one performance -- LG. Fact #4: Live Nation acquires a stake in Veeps -- a competitor platform, specializing in 2D streaming. The conclusion is not in favor of MVR, I think.
3) Yes, we left with Napster. I read the situation is that Directors/Inversotors decided to put all eggs in two baskets: 1) PaaS for music streaming, 2) normal music streaming incentivized with video content tailored for a particular fan group. Both are risky. PaaS is risky because of the low-margin market that is full of competitors (although the market is growing). The app is very risky because the technology is not rocket science and large players (e.g. Spotify, Apple) can easily do it -- they all have money. In my opinion, the plan of directors is to innovate BEFORE the large players and get a high reward. But as I said before, it is risky and the market currently thinks that the risk/reward ratio is bad.
4) 6-month free trial. In my opinion, no way -- this will kill MVR. They don't have so much money. Yes, it is a gib question what they would be able to offer to offset similar offers from large players. AD says they would target early adopters, so I guess the plan is to attract people by innovative service (here is where VR should work).
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