Pass the Aux
|Name: Rajiv Thandla
NYU affiliation: Stern
NYU status: Undergraduate
|Did you enter last year?: No
Do you have any teammates?: Yes
How many, including yourself?: 2
Pass the Aux
High Concept Statement
Yik Yak meets music streaming – socially collaborative playlists in which users can dynamically add songs to a playlist and vote for song order
Nowadays in social settings, playing music is like social hot potato – no one wants to get stuck being the one that has to choose all the music, but everyone has their own opinion on what they want to hear. Students and young adults face this dilemma in social environments daily.
Customers currently swap the device connected to the speakers manually, or verbally take suggestions in an inefficient way. This is cumbersome and requires a lot of effort on the part of the host. While there are some startups like Rockbot currently working on a solution, none of them are user-friendly and are hindered by their revenue models. Additionally, Rockbot is only available for businesses while our app is geared towards personal use.
Customers will prefer our product because it gets everyone involved in the decision making process and at the same time decentralizes the burden of one person being responsible for choosing music. Existing options are not fully functional and do not have the necessary network effects to to become widely adopted.
Our app will generate revenue through a freemium model (see attached supplement), employing a token system (in-app purchase) to do so. This token system will operate on two platforms: Free and Premium. In the free model, every additional song pushed by a user costs 10 tokens with the user acquiring 1 token for every vote they cast. Additionally, it would have in-app advertisements. The premium subscription would cost 99 cents a month and would feature no advertisements. Additionally, the user would get 500 tokens to spend (50 song pushes) and would earn 2 tokens for every vote they cast. In the long term, we are looking to add a Business platform that allows businesses to use our collaborative playlist system to enable customers to control the music playing. Businesses would be charged a monthly subscription fee and would benefit from increased exposure and foot traffic.
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