Digital content really could use some help. Industry revenues are dipping due to piracy and illegal use of content on social media. Providers of Arts & Media (A&M) are being short-changed by social media and streaming services. And business models built upon patterns and practices dating back to early 20th century, decades before the invention of digital and online services, are fueling a lot of bad will.
But Pindify is forging new solutions that could knock down inefficient intermediaries standing in the way and enable content providers to transact easily and directly with audiences.
Pindify’s solutions emerge to handle three key concerns:
1. Social Marketplace to attract interact and transact.
Pindify, comparable to any commercial center, offers a symbiosis for merchants, businesses and enterprises (providers) of Arts & Media (A&M) to coexist with consumers (subscribers) and free users.
It's free to join, organize and post social or promotional audio, video, text and images on their portfolios. However paying members ($5-$69) can join together or separately earn “content revenues” from published work or “portfolio revenues” from invited and following subscribers .
After operational cost, which varies depending on country, VAT and currency, the subscription becomes the “market distribution”.
Pindify acquires 8% revenue from subscription, and between 40 to 50% from membership.
In USA the subscription of $11 offers a market distribution of about $8.60/month.
Portfolios earns a guaranteed revenue ($2.15/month in the USA) for every invited subscriber.
Followers provides a dynamic revenue ($2.15/month in the USA) divided by the number of portfolios the subscriber follows.
Content revenue ($4.30/month in the USA) is distributed to the owners of professional content times the percentage each subscribers spend reading, viewing or listening to each professional content.
The market distribution is dynamic depending on how the subscriber use the platform i.e. if a subscriber neither follows nor were invited they distribute the full $8.60 per month on content they consume.
To provide a chance for all providers to grow and to enforce quality, certain ranked portfolios can publish content on the global and local market. However all open portfolios and content can be filtered out or searched for on the platform. Followed portfolio’s updates can be viewed on the home feed.
The ranking system called "Karma" that ranges from 0-100 and can be acquired by publishing content with a good ratio of likes, comments, pins over number of views and time.
Future planned revenues are branding, trading and funding.Future planned categories are live, list, event, trade, funding content.
2. Connect social relationship, financial empowerment and quality context.
Pindify unified the best of streaming services with the best of social media to provide a full stack marketplace tailored to service the relationship between providers and consumers of A&M.
Pindify’s strategy is to grow from providers quality to supporters enthusiasm. The almost religious bond between the consumers and their favorite providers or A&M, will create a quite unique conversion rate for this industry and continue to grow Pindify as a market place.
It’s important that creators are satisfied with the services and the platform before they start enlighten their fans. That’s why Pindify has a superior full stack platform that emphasises quality content distribution to consumers with the same intensity as the subscription distribution to their favorite providers.
It's free to promote and view free or social content, but paying subscribers ($11 in the USA ) gets exclusive access to portfolios and their content as well as full access to the market.
Subscribers are in charge of who get's their subscription via Pindify’s smart payrail system of micropayments from invitation, following and consumption.
Subscribers are rewarded by being an established consumer and get exclusive content, special invites or unite with the members directly. Get invited to spontaneous live concerts, or maybe be prompt to stream the latest film, is a matter of a few keystrokes for the provider.
Pindify strongly believes in the long term approach of connecting democratically appraised providers of A&M with stable market demand. Following the previous trends of Facebook vs Myspace and Google vs Altavista - by initially offering a clear web and mobile area, Pindify focus on providers portfolios and content rather than clickbaits and advertisements.
Branding will occur but only when providers following is matched with brands market segment and the provider choose to take the offer. Hence it will be the the portfolios who does the advertising/sales towards their followers, not Pindify.
Pindify’s shared ownership and subscription, incentives critics, curators and influencers to amplify great content or portfolios with surrounding context and promotion.
3. Clarify ownership, licensing and rights management.
Digital rights expression is one of the biggest problems the content industry is tackling presently. It’s extremely difficult to clearly define which providers such as performers, songwriters, producers, publishers, and labels own the rights to content and how royalties should be split between them.
This is the place Pindify can expect blockchain to bring change. The ledger stores a cryptographic hash representing the digital contract of every new content registered on the blockchain, along with lyrics, composition, liner notes, cover art, licensing, and other relevant information.
Since they are immutable distributed ledgers owned by no single entity, blockchains will enable content creators to register ownership, share or take part in other creations directly.
Pindify togehter with dotblockchainmusic.com will soon enable artists to manage their identities, content, and licensing on their own terms. Combining the transparency of the blockchain with the innovation of smart contracts, the system also enables consumers to license the content for various purposes.
Pindify already allow providers to establish portfolios and publish content and easily share revenues by inviting co-owners and set the correct percentage according to individual contracts. Providers can divide global publishing, join together or separately earn from both portfolio-revenue and content-revenue.
E.g. magazines can share ownership and earn together with their contracted journalists, labels earn together with their artists. It further explores the possibilities of e.g Radio channels promoting professional content providing owners revenues directly, while receiving revenues from invited and following subscribers. Lastly Pindify could in the future house and organize all subscriptions services for film, music, audiobooks, podcasts, articles on one platform with one super subscription.
Strategy & Current Position
Here’s a strategic look at how Pindify’s Arts & Media market after 3.5 years of productions connects services perfectly timed with the immensely growing demand
Pindify’s strategy emerge to handle three key areas :
1. Matching production with service.
Full stack to provide the full potential of every provider to reach their consumers.
Pindify’s webportal is the “center” of publishing and consumption. In contrast to instagram and snapchat, Pindify’s members are more likely to master their content prior to publish, which still today is mainly done on a desktop.
Native apps are primarily the “receiver” of published content for subscribers to consume. However social post and content publishing will soon be integrated.
Pindify’s hybrid page “bridge” mobile/tablet’s web browser with the native apps. This way consumers can access content, portfolios and the market on all devices while easily register and download the native apps.
Connect System to make smooth transitions through the gates of Pindify.
Invites are managed and sent out from each portfolio. It can be direct portfolio or content links, invitation links, shared parse to other social media or emails.
Providers’ links or emails will invite their fans to their “hook” where they can view the portfolios profile image and read a personal message as well as get the incentives to become a subscriber on Pindify.
Sales’ and other members’ links or emails will invite their clients or other members to the “onboarding” where they get the instructions and the incentives to become a member of Pindify.
Providers’ can invite fans by sharing content on social media. Once their fans click on register after viewing the content, Pindify’s system knows who invited the user.
Providers’ can also invite fans by sharing direct links to their portfolios on social media or in other ways. Once their fans click on register after viewing the portfolio, Pindify’s system knows who invited the user.
If anyone enters the landing page via search or in other ways, Pindify offers both instructions and incentives for either members or subscribers to sign in. Once they register they can search and select the person who invited them, if any.
Registration is to make sure we build a solid community of trustworthy individuals.
Once users register with their social media accounts or email, they select who invited them, which is prepopulated with the portfolios if they were invited. They create username, set location, verify their email address and move on to select membership.
Providers requesting to pay out furthermore have to register their VAT number and security number to ensure responsibility and legal transactions.
Memberships are to organize and provide easy access to the marketplace of arts & media
Providers that wants to earn can select “merchant” ($5 excl.VAT), “business” ($15 excl.VAT) or “enterprise” ($69 excl.VAT) memberships, depending on their size or affiliation with other providers. E.g a musician would select merchant, a magazine with 30 journalist would select business and a label with over 100 bands would select enterprise.
Pindify also provides “merchant trial” which is free for 3 months and “merchant premium” ($15 incl.VAT) which also gives the merchant full access to others content as a subscriber.
Consumers who wants all access to portfolios and their professional content on Pindify selects subscription ($11 incl.VAT).
Users testing the platform can continue as free users, but once they decide to upgrade their membership or subscription their inviter will be compensated monthly.
General agents and their invited ambassadors cannot be selected only provided for but they too have accounts where they can manage their invitations and revenues.
Payment system is to make a secure and swift handling of transactions.
Pindify’s payment system is operated by Stripe who’s fully PCI-compliant by the Data Security Standards. After VAT, transactional cost and Pindify’s service fee, the subscribers payments enters Pindify’s “Jem system” to organize currency and secure all micro transactions of subscription and ownership distributions.
The Jem System securely mirror the real amounts on Stripe and only allow members to pay out a certain minimum and a maximum.
Subscription system is to create a smooth pay rail between consumers and providers of arts and media.
Sales revenue system is built to collect revenue from “direct member invites” or “indirect member’s subscribers invites!, that ambassadors and general agents share. In the USA the sales revenue of a member ranges from enterprise invite of $40/month to merchant invite $2/months. For every subscriber each member invites the sales revenue is ¢35. E.g. If sales invites an enterprise with 30 merchants that invites 100 subscribers each, the sales revenue would be $1,150/month
Portfolio revenue system collects the combined revenue from invited and following subscribers Portfolios earns a guaranteed revenue ($2.15/month in the USA) for every invited subscriber. Followers provides a dynamic revenue ($2.15/month in the USA) divided by the number of portfolios the subscriber follows.
Content revenue system collects the revenue ($4.30/month in the USA) distributed to the owners of professional content, times the percentage each subscribers spend reading, viewing or listening to each professional content. E.g if a subscriber consumes 50% of content the owners recieves $2.25 that month.
The systems are built dynamically to be able to distribute only invite, following or consumption payments if the subscriber choose to only do one or two of the options.
Ownership system is to allow symbiosis of a dynamic yet secure relationship between providers of arts & media
Pindify includes all business of arts & media by responsibly facilitate the ownership structure for both portfolios and content.
Members of arts & media can join together or separately earn from both portfolio-revenue and content-revenue.
Pindify is currently working with other teams to engage the dotbc movement to assign legal contracts of audio, image, video via blockchain.
Karma system is to to enforce quality on the market feed.
The ranking system called "Karma" ranges Portfolios from 0-100 and can be acquired by publishing content with a good ratio of likes, comments, pins over number of views and time.
Market Feed is made for develop the thrive and opportunity for new fans and more consumption.
The global and local market feed are mixed into one, but is based on geographically relevancy. The global market only allows content from portfolios with a ranking karma over 20 and the local market only allow karma over 10. Portfolios with lower karma can be searched for or directly reached by shared links.
The market feed has a content sequence algorithm that displays content evenly and according to priority of higher karma publishers. It also takes into account the type (earnable/promoted/free) category (audio, video, text, image) and trending (Most liked, Most viewed, Most shared, Most recent).
The market feed also matches every consumers settings and behavior with the settings of each content with a collaborative filter algorithm.
Selective feed is how Pindify can assist with a more organized and social interaction on the the platform.
Users receive content updates and posts from friends and followed portfolios on the “home feed”.
Providers can broaden their creative spectrums and publish content on their portfolios in several different categories. Visitors can therefore filter inside portfolios, receive information and start consuming recurrent content via player of viewer.
Favorite portfolios can be pinned and displayed in “stash” for easy access to specific updates.
Discover feed is a collective feed where portfolios with the best amount of karma can get published. Trending articels, most liked playlist and current news will be displayed according to the consumers preference.
Filter function provide results from a bundled search of categories, subcategories, mood, subject, era, location, date and time as well as tags. Consumers can use the filter handler or directly click on the content description to filter out an area of content requested.
The search function finds all content or profiles by name or by direct searches of categories such as @Profiles, #Tags, *Media, +Collection, $Business and !Connect.
Portfolios are the “stores” for providers to present and the “shopping bags” for consumers save content of arts & media.
Portfolios range from everything from a single artist, writer, podcast to a label, magazine or radio channel.
Providers can create or join other portfolios with others and manage them by uploading created work, import already published/posted content, link and share others work or directly create content.
Manage the priority settings to set the order of cards displayed in the portfolio
Invite and a Follow up with analytics. Get notification about your content and message directly with your associates or followers.
Filter the portfolio to find exactly what the consumer is looking for from each portfolio.
Pindify made it super easy to publish and categorize the work into audio, video, text, image and select mood, era, subject as well as provide tags.
Providers simply upload, import or link content and set it to “earn” and receives income from subscribers consuming the content per time.
The content is organized on the portfolio feed and then distributes to the market feed if their karma allows and to their followers home feed
Geo-specific content allows providers to restrict published content by geographic regions or by country. Content displayed to the visitor is relevant to their location and is related to a specific locality, which can be a city, state, country or larger region.
Age-specific content allows providers to restrict published content by age. Pindify requires everyone to be at least 13 years old before they can create an account (in some jurisdictions, this age limit may be higher).
The player stream audios and videos based on direct click and followed by the selected feed or quelist. The Radio function is soon being connected with the related lists and once we have enough data we can start providing that service. The radio function is play audio “related lists” which are based on the curation of publishers and consumers.
To secure content Pindify offers a report system and an admin system that lets members flag content or publishers for any wrongdoing. The flag system allows administration to freeze content or portfolios that is reported with a valid claim. The content or the portfolio can be unfrozen if the counter claim is valid. Pindify also preserves the right to wait for a court decision in some cases, until unfrozen.
Apart from mainly using trusted social media logins with email verification, Pindify will be using an identity verification service called Trulioo to ensure that users or customers provide information that is associated with the identity of a real or legal person. The service of payint out will need verification of the authenticity of physical identity documents such as a drivers license or passport, called documentary verification, and identity information against authoritative sources such as your VAT number or 1099.
Pindifys protocol for secure communication over a computer network “HTTPS” consists of communication over Hypertext Transfer Protocol (HTTP) within a connection encrypted by Secure Sockets Layer. HTTPS provides authentication of the website and associated web server with which one is communicating, which protects against man-in-the-middle attacks.
2. Market Strategy
According to a five-year outlook released by PwC (PricewaterhouseCoopers) on June 13, 2016, global entertainment and media revenues are expected to rise from $1.7 trillion in 2015 to $2.1 trillion in 2020. *
Pindify will organically grow and reach the enormous market potential, by incentivising providers to earn from inviting subscriber from their current fanbase. Smaller fanbases are often more dedicated and should have a higher conversion rate, hence we don’t need the largest stars in the beginning. By making it super easy for providers to invite their fans via the “hook” and other members with the “onboarding” Pindify invitation process are smooth and airtight.
In order to reach providers of arts & media Pindify is currently teaming up with General Agents in specific areas around the world. Incentives by directly or via ambassadors earn revenues on inviting members and their invited subscribers, the GAs are in charge of the local operations and the organisation of ambassadors.
Ambassadors are social butterflies with great connections in certain areas of arts & media. They are provided with specific instructions, sales tools and invite links to engage their clients and their fans to start using Pindify. Ambassadors are incentivised by earning revenues on inviting members and their invited subscribers.
Enterprises represents larger labels, media houses, agencies, publishers and studios, can set up an unlimited amount of page-portfolios to turbo-effect the number invites. They share portfolio-revenue with their members and content-revenue with the co-owning publishers.
Businesses represents independent labels, magazines, tv/radio channels, managers, smaller publishers, can set up 30 portfolios increase the context and attraction of Pindify. They mainly earn by sharing portfolio-revenue with their members and in some cases content-revenue with the co-owning publishers.
Merchants represents musicians, journalists, authors, hosts, etc, can set up 3 portfolios and be apart of endless of portfolios representing their band, magazine or other groups. By inviting other co-owners or other members it will increase the number of providers on Pindify.
To excel portfolios or content shared and parsed into other social media with a consistent reminders, Pindify will connect some select providers with a stabile fanbase, with a PR-firm to create the best context via interviews, blogs and videos.
Pindify will aim to have a few providers reach a “Proof of concept” e.g a artist making more on Pindify than other DSPs or a podcaster starting reach real subscribers. Once the proof is evident we have enough to provide the story and write articles about it and share with industry media.
As fans spend more time on their digital devices, they feel more personally connected to their favorite artists, stars, athletes, and fellow fans — so much so that they crave more live, direct interactions with them. A great deal of evidence supports this. Touring and festivals are now the lifeblood of the music industry. And video gaming (aka “e-sports”) has become a live event phenomenon where fans pack arenas to watch others play competitively. Once a healthy number of interactions in certain areas are reached, Pindify will partner cafe’s and hostels on behalf of branding Pindify while providing solid stream of customers, gatherings and entertainment. Second Pindify will sponsor backstage areas for providers on arts and media events. Lastly Pindify will become a strong candidate for organizing tour events for arts & media.
3. Market Trend
To survive the rapid transition to a direct-to-consumer future, companies across the Entertainment & Media (E&M) sector need an effective fan-centric strategy — or risk decline and irrelevance. Pindify is in the Arts & Media (A&M) business, but are currently discussing mirror platform and move into Sports & Media once we have established our launch in mid-February.
A few recent, seemingly disparate, events illuminate the seismic shifts occurring in entertainment and media (E&M). When basketball superstar Kobe Bryant announced his retirement from the NBA on November 29, 2015, it occurred not on a major sports network but via social media and the Players’ Tribune, an athlete-centric digital publisher. That same month, CBS — which like NBC, FOX, and ABC is trying to grow viewership outside of traditional pay-TV — announced plans to revive Star Trek, one of its best-known franchises, exclusively on CBS All Access, its new subscription video on-demand service. Fox declared it will no longer track same-day TV ratings; rather, it will report on program viewership occurring after three and seven days, responding to the prevalence of on-demand viewing. Mobile operators like AT&T and Sprint responded to users’ surging demand for streaming video by emphasizing their unlimited wireless data offerings in their marketing and subscriber acquisition efforts. And some of the hottest-selling gifts in the holiday season of 2015, were streaming video devices and smartphones.
These developments foreshadow the E&M industry’s rapid transition to a direct-to-consumer world, where most content will remain the same — at first, anyway — but the packaging and distribution will change significantly. Specifically, the expansion of digital technology, manifested in more ubiquitous fixed and wireless network connectivity enabling growing numbers of connected devices and new routes to the user, is altering the industry’s structure, driving new ways to produce, distribute, and monetize content across its landscape. Providers can more readily pursue opportunities outside traditional studios and distribution channels. Consumers have far more content to choose from, available to them at any time, in any mix, through many more delivery options and devices. In every corner of E&M, empowered users are gravitating to brands, experiences, and platforms that are differentiated as much by the quality of their curation, customization, and convenience as by the quality of their content.
No longer is it enough to develop content solely to attract eyeballs, seeking the largest audiences possible for advertising and subscription revenues. Now, you must create fans: active users united by shared ideas, interests, and experiences, who will return every day to your brands and properties. As a fan-centric business, buoyed by the loyalty of passionate users, you will command substantial strategic advantages. You will know more about who your users are, what they want, and how to deliver what they want. This will enable you to monetize your products and experiences more effectively and more broadly.
Current fans recruit new fans. Best of all, fans spend more per capita and are less likely to churn. In every E&M sector, disruptive companies are racing against incumbents to drive fan value — to be the first to deliver what users want, perhaps even before it is clear they want it. In 2016, the pace will accelerate. Any companies hoping to join the fray will need to be better than the competition at locking up fan engagement, loyalty, and spending, and at investing in efforts that drive fan value.