World-wide interest in ASX-listed MSM Corporation International Limited’s (ASX: MSM) Megastar App is dramatically exceeding all expectations after the first phase of the company’s ground-breaking digital talent competition.
The MSM App has been a hit with early adopters of the global Megastar talent show concept, with MSM reporting that:
Engagement metrics continue to exceed industry averages by up to 400%; and The Megastar App has hit as high as number 4 in Entertainment Apps category in the prestigious Apple App store rankings.
MSM’s strategy of bringing on board major global influencers such as eight‐time Grammy Award winning superstar Usher and world famous wingsuit pilot and base jumper Jeb Corliss onto the Megastar judging panel is clearly paying dividends in attracting and retaining interest from viewers of the competition.
The company also reported that participant interest in the Megastar competition, which features a Grand prize of US$1 million, has achieved strong increase in submitted auditions week-over-week through the early heats
MSM Managing Director, Dion Sullivan, said the company is very pleased with the success achieved after just one month of operations, with the Megastar App already attracting more than 230,000 downloads in less than five weeks.
“As planned, the engagement of the early adopters to Megastar continues to exceed our expectations,” Mr Sullivan said.
Our confidence is growing day-by-day and the opportunities arising from our results so far are shaping towards a very exciting future.
“There’s more to come – and the entire team is focused on delivering a best in class experience.”
MSM US Chairman, Doug Barry, said the global response to the Megastar competition has been impressive since the Worldwide Tournament 1 commenced in early October with auditions in the USA, Great Britain, Australia, Canada, New Zealand and South Africa.
“I am delighted with the initial reaction to the Megastar App, both in relation to the talent acquired so far and the user engagement metrics that we are seeing that far exceed industry norms,” Mr Barry said.
“This is a validation of the on-demand digital talent competition concept and is truly exciting as we enter the next phase of Worldwide Tournament 1.”
Mr Sullivan said the interest in the Megastar App to date – which is rapidly approaching 250,000 downloads – and the high rankings it has achieved in the Apple App store is very impressive when you consider it is sitting within the ranks of established entertainment App names such as Netflix, YouTube, Hulu, Amazon Prime and Fox Now.
“This is an extraordinary result for an App which is so early in its lifecycle. Other highly successful Apps such as Musical.ly and Twitch took months or years to achieve similar outcomes,” Mr Sullivan said.
The early success has already prompted MSM to investigate new opportunities in the highly popular entertainment competition market.
MSM said that with Usher closely involved in all phases of the competition and its marketing, along with MSM’s strong media contacts and valuable data and content being accumulated from
the initial Megastar campaign, significant progress is being made to secure partners to launch additional versions of Megastar competitions in 2018 which are expected to be scheduled independently of the main “English-language” Megastar.
Mr Sullivan revealed that advanced discussions are already underway with potential partners to launch a Megastar Tournaments in India (Bollywood) and South-East Asia in 2018.
MSM’s Megastar competition is a global, mobile-first talent competition, featuring performers of any category, competing to win US$1 Million, an audition for a role in a film and various other prizes.
Analysts are forecasting a potential world-wide Megastar audiences of 120 million plus, with MSM set to take financial advantage of the popularity of the event and brand ambassadors like Usher through In-App purchases, subscriptions, advertising and eventually merchandising and data analysis.
A recent research report has estimated that MSM may convert 0.8% of an addressable audience of 22 million in FY2018, with that number climbing to 63 million by 2025, delivering estimated EBITDAs of $5.4 million in FY2018 and $16 million in FY2020.
The first global audition heat for Megastar commenced in early October, with the grand finale scheduled to commence on 2 December 2017 with the Finale scheduled for 14 December 2017, a prime time for attracting major global audiences in the lead-up to Christmas/New Year season.
