Numbers are showing a decline in media – especially music – usage on smartphones. While apps have never taken users away from music listening LionShare Media sees it as a problem with how we are engaging with music and wants to fix it. LionShare’s app is changing this with engagingly musical features targeted at “screenagers”. With immersive features and insight into the artist’s creative process LionShare is looking to change the music scene.
LA TechWatch chatted with CEO and founder Susan Brazer about the company and its latest round of funding.
Who were your investors and how much did you raise?
We raised a Seed round from Susan Brazer, Alan Fox (angel) and Charles La (angel) for $125K and for a company total of $500K
Tell us about your product or service.
We’re developing an app-as-a-service platform to create immersive mobile media apps for Premium Content Distribution to “Screenagers”, particularly Millennials.
What inspired you to start the company?
We see an enormous market opportunity for own-branded, video streaming apps that distributes premium entertainment content, generates high levels of consumer engagement and monetization.
How is it different?
We have an exceptional UI/UX design, immersive new mobile video ad unit and multiple sources of monetization
What market you are targeting and how big is it?
We are targeting the $200B mobile video advertising market over the next 3 years due to the shift of budgets from TV to mobile.
What’s your business model?
Our business model is to offer our app-as-a-service to recording artists, film, tv and media companies and share revenue from multiple revenue sources: advertising, sponsorships, product integration, micro-engagements and commerce.
Do millennials have higher standards for media than other generations?
Millennials have specific requirements for media consumption; they require free “snackable”, exclusive and fresh content on demand and on all of their connected devices.
What was the funding process like?
I decided to contribute the first round of funds as the Founder/CEO and raised a friends/family round of $75K over the course of last year. We secured $125 from an LA-based Angel, an ad tech exec at Google via an introduction from our legal counsel.
What are the biggest challenges that you faced while raising capital?
The biggest challenge that we face raising capital is identifying and meeting mobile/media investors. The platform is a bit more complex than simply building service oriented apps, so our investors really have to be on board with the opportunity in mobile media/advertising.
What factors about your business led your investors to write the check?
Me (CEO), unique UI/UX and enormous market/business opportunity.
What are the milestones you plan to achieve in the next six months?
Secure angel round in Q4, A Round in Q2, develop apps for major label/recording artists and several media companies and prove out our monetization models.
Where do you see the company going now over the near term?
Active product development and pilot launches. We are building out the platform and apps with our South African development team and plan to launch pilots in Q1, starting with Sony Music Latin and IBM. We’re also launching some media apps with TV/Media companies that integrate programmatic video advertising. This will all lay the ground work for our app-as-a-service platform and demonstrate KPIs for engagement and monetization.
Where is the best place in LA to watch the sunset?
Manhattan Beach, of course!