ASX-listed MSM Corporation International Limited (ASX: MSM) appears to be onto a big hit with its global Megastar talent competition.
Its Megastar App is delivering engagement metrics significantly higher than forecast and the company has signed an agreement to expand Megastar into India.
With the Megastar App and the first global competition launching at the beginning of October 2017, MSM is observing dramatic engagement responses from early adopters.
The company recently reported that;-
- It has signed a Binding MoU to launch Megastar in India
- The Megastar App has already attracted more than 350,000 downloads in less than 8 weeks
- Engagement metrics continue to exceed industry averages by up to 400%
- The Megastar App hit a highest ranking of 4 in the Entertainment Apps category in the Apple App store rankings (currently 24)
- Megastar’s growth is expected to continue beyond the finale of competition 1 with additional competitions launching immediately following the finale
MSM Managing Director, Dion Sullivan, says the MSM strategy of engaging early adopters has proven a great success with the engagement metrics to date exceeding the company’s best expectations.
“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’s strategy of including eight‐time Grammy Award winning superstar Usher and world famous wingsuit pilot and base jumper Jeb Corliss as brand ambassadors has clearly been successful in introducing Megastar to a target audience that loves the digital concept.
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MSM says the high early take-up rate for the Megastar App has been extraordinary, particularly in comparison to other highly successful Apps such as Musical.ly and Twitch which took months or years to achieve similar outcomes.
And there is every indication that the high levels of engagement and increasing organic growth will continue beyond the finale of the first competition.
MSM’s Megastar Generates Huge Global Interest
MSM US Chairman, Doug Barry, says the global response to the Megastar competition has been impressive since the Worldwide Tournament 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 strong 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.”
Global Expansion Opportunities
The early success has already led MSM to sign a Binding Memorandum of Understanding with The Riva Group LLC to launch Megastar in India.
MSM Chairman Adam Wellisch said the Agreement is a major milestone in further expanding the global footprint of Megastar across non-English speaking territories and draws on the highly popular culture and following of Bollywood globally.
The Riva Group has a highly successful track record of delivering excellence in media, leisure, entertainment and cutting-edge technology.
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.
The Megastar Finale is scheduled to be staged on 15 December 2017.
