Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Horses Gob - we will only get one chance at releasing and marketing the new killer app. Users are fickle; if we have a better offering they will quickly jump on board. If it’s rubbish they’ll never look at us again. Time for a bit more patience my pedigree chum
Agreed DJP - I would much rather lose £30k than miss the chance of making £150k. The latter would make me feel more sick I think
*Offler
offer - What music ‘events’ are being promoted?
Haha quite. I hope there are no sound engineers in here
No I don’t HG. But I very much doubt he will remove the search functionality that already exists. That would be very silly now wouldn’t it
HG - have you not even looked at the current Napster app? This has built-in search functionality and will be the baseline for improvement, not the **** Melody app. I expect the new app to have a lot more features and functionality, but we will all have to wait and see how good (or not) it is.
Fair enough Mel - clearly your area of expertise, not mine. As long as most of that £40m is for the other big items I mentioned then we will be in for a real treat
... but presumably Melody and Napster’s existing Software development team will be on salaries to focus on the new app; I’m talking cost of additional support from external expert sources (from the £40m) not currently factored into the yearly budget. If I’m way off I’m way off (I’m not in IT but have spent on IT)...
I don’t think the app will cost £millions to build - prob £100-£125k (at most). The biggest expenditure will be advertising and marketing, plus licensing / hosting costs. That’s why I’m expecting (or let’s say ‘hoping’ to satisfy the negative posters) a huge campaign when this thing takes off.
We have a market cap of circa £50-60m. We have £40m in funding for the app, plus the money to pay for the RTO. There is a reason Davis Group have the charges on their loans. It is actually quite incredible for a company with such a low Mcap to have been able to secure the funding they have to date! So I can stomach a bit of dilution and a low sp for now, but my expectations on the new app and launch plans are very high
I’ve made a very similar point recently SlowlySlowly - very easy for some to jump on the decision with the negatives, but these types show lack of business experience and awareness. I hope the additional funds are to push the new app through quicker, perhaps in response to the ever-changing COVID news re live concerts. OR, maybe there are big big plans in waiting requiring the new app to be released sooner? This is not easy for those who haven’t taken profit and/or averaged down and I get the bitterness. It’s tough atm. It’s a waiting game and those who see the bigger picture will prosper. GLA
The current Napster App has a long way to go to be ‘great’ IMO. That equals a massive amount of growth potential with a decent marketing campaign. Really excited to see the new App. GLA
Interesting q Italian. Depends on whether you have been vaccinated I guess. Vaccination Passports a must? Who knows but uncertainty re live physical attendance will help streaming / VR
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Albert - none of us know what’s being discussed, but I can make a good bet that Gore is still interested in his investment options here; of course he is. He will be considering how best to make up for lost revenues and we are still in pole position to assist and work with him. It’s great we can talk positively about the opportunities here. Certainly exciting times ahead :-)
I think BrownAdder suggested keeping theatre as a separate entity a while back (so can’t credit this idea as all my own)
That would interest him enough re his o/s options IMO
My view is that is that music streaming & VR has now back-seated Theatre and discussions are ongoing re what to do there. Gore must be primarily concerned with using the tech for theatre, but our resources won’t be able to stretch to music & theatre IMO. So, what does Gore do?! If I was him, I would license the tech, use and rename the Melody VR app to something Broadway related and then allow him to focus and manage the theatre side, all under the Naspster Group umbrella. Just thinking out loud mainly, in the knowledge that the day traders don’t work weekends :-)
Yes that’s right, but there is no mention of theatre. It could be that the existing Melody VR app is still used(separate to the new Napster app) just for theatre and maybe even managed by Gore & Co. just a wild thought as to why Gore has gone off the radar but presumably must still be keen to invest (beyond recouping his losses)