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THE 61 – WWW.THESIXTYONE.COMTHE 61 – WWW.THESIXTYONE.COMExecutive OverviewExecutive Overview
2MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTWhat is The 61?
Music discovery engine
Fantastic user experience due to heavy AJAX integration
Wildly popular with Indie artists
Tons of features and engagement/retention tools
A recently funded Y! Combinator company
Run by 2 people (+ one intern)
3MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTHome Page
Banner Ad
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Sky Ad
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Music Navigation Bar Persistent – peruse site w/o interruption Intuitive interface, minimalistic design
Music Search / Filter functionality Sorted by pre-set filters (L) or genre (R) Moods utilizes music recognition engine
Search results / Playlist Full AJAX interactivity (feature-rich) “Heart” rating system drives engagement
Artist preview Band overview Additional features (share, similar, etc.)
Cool features throughout the site This Ajax pop-up features artist info,
news, trivia, jokes, or artist notes to fans
4MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTProduct Spotlight: Music Navigation Bar
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Invite friends individually or through
their ABI (Windows, Gmail, Yahoo)
The RACK: An AJAX-powered music
jukebox that promotes further music
discovery. Users can replenish hearts
by using this feature.User status: Displays usage/loyalty information
Filters for music already discovered by you or the
community
Filters for music to be discovered or re-discovered
Socialization tools
5MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTInnovative Engagement Strategy: Questing
Users are given quests to complete in order to earn “reputation” and “hearts” (more on “hearts” in next slide)
Users are then compelled to explore the site and its many features
“Reputation” is akin to “experience points” in gaming. The more you accrue, the higher level you become.
Examples of Quests: “The Evangelist” – Recruit 5
people to join thesixtyone “Try The Rack” – Listen to 5
songs on “the Rack” section “Make Your Voice Heard” –
Leave comments for artists/songs explaining why you like their songs.
6MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTSite Interaction / Stickiness: “Heart” system
A heart is equivalent to a vote of confidence. Listeners heart songs they like as a way to express their love for it.
Users are given a daily allowance of hearts (on top of quests rewards) for voting on songs. Each heart corresponds to one vote.
The main way to earn reputation is by hearting good music. You'll gain reputation the more popular a song becomes after you heart it.
Additional reputation is earned by inviting other users to the service. A percentage of their rep is added to yours.
The total number of hearts grew by 186% = +215 rep
The total number of hearts grew by only 58% = +3 rep
7MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTUser Home Page : Main Profile
Banner Ad
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CD collection of tracks purchased on T61 (Artist profiles and micropayment solution shown on slide 9)
User information: current level, bio, and reputation points
User activity: number of current and completed quests, plays, listens, etc.
User selects three songs to feature on their profile
Comments from the community
Socialization: Subscribers to your radio and
those you have subscribed to Tagging your music
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Saved songs: Creates a personalized radio for every song that you save
Stats & Achievements: Another resource to keep users engaged
8MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTFeature Highlight: “Share” functionality
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Comment sections by song and/or artist. Highly used.
Embedded music videos (currently via YouTube)
Community recognition. See who else likes this song/artist.
Music recommendation engine. Tagging fuels this.
Multiple channels for content distribution Seamless integration with outside destinations
9MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTArtist Profile
Banner Ad
Users can utilize the “tip jar” to give donations to their favorite artists
Virtual currency can also be used to purchase songs/albums from artists in the “T61 Bazaar”
Since music is sold directly to their fans, more money is generated for the artist. This encourages high artist adoption.
Micropayment system in a very clean AJAX interface (shown below - T61 previously using Amazon in similar MySpace fashion)
Users given recognition for donations and purchases
10MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTCurrent Monetization Strategy
Display advertising: – Skyscraper and Banner ads on all music pages– Skyscraper ad on User Home Page only– No ads on Artist profile pages
Current display advertising mix:● American Apparel: ~35%● Time Warner cable: ~5% (via Mediaplex)● Promotional: ~60%
− “Scrobble” (broadcasting), Invite Friends, T61 Bazaar
E-commerce: – Apparel
● Powered by Spreadshirt.com● 3 men’s and 4 women’s tops available
– Album/Song sales ● Virtual currency “credits” system● 80 credits = $1 USD
11MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTKey Benefits
12MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTKey Risks
13MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTComps
Users 52K 2.8MM 4.2MM 2.8MM
Products Web-based application Web-based application Web-based application Downloadable application
Employees 2 70 120 28
YoY Growth 39% 40% 83% 115%
MonetizationDisplay advertising,
e-commerce, microtransactions
Display advertising, e-commerce
Display advertising,Mobile royalties
Display advertising, e-commerce
Positioning User and Artist-recommended music
User-recommended music
Artist-recommended music
User-recommended music
Founded January 2008 January 2002 January 2000 January 2002
Valuation / Funding Seed funding of ~$8K(Y! Combinator)
Acquired for $280MM (CBS Interactive - 2008) $21.3MM in funding
Valued at $53MM in 2006
(25% owned by IAC)
Sources: ComScore, Compete, Crunchbase
14MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFT
15MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTIn their words…
16MYSPACE – CONFIDENTIAL & PROPRIETARY
DRAFTIn the News
“Though thesixtyone certainly isn’t the first site that wants to help you find the best of the indie music world, it’s one of the best at pushing great music in front of you, and is my newest destination for finding the artists I get to feel cool
knowing about before they make it big.” – the20life
“Thesixtyone is a Y Combinator startup that launched a year ago. It is now attracting about 100,000 unique visitors per month and 10 million pageviews, say the founders. That suggests a high level of engagement. The average session is 40
minutes, and registered users typically spend 2 hours a day on the site” - Techcrunch
“thesixtyone is the most interesting website I’ve seen since Last.fm” – The Telegraph
“Thesixtyone is probably one of the most feature-rich, well thought-out music sites of its kind.” – Lifehacker
“An interesting music discovery game that connects artists and fans.” – Boing Boing