Investor interest in ASX-listed MSM Corporation International Limited (ASX: MSM) is growing, with the company confirming the first Megastar Competition and the launch of the Megastar App into the Australian and US markets is only weeks away.
The Megastar Competition is a global, mobile‐first talent competition, featuring performers of any category, competing to win US$1 million, a role in a film and various other prizes. Winners are chosen by fans voting in the competition through the Megastar App.
The first Megastar Competition launches in MSM’s six core markets – the US, Great Britain, Australia, Canada, New Zealand and South Africa – with additional Megastar competitions subsequently launching in non‐English speaking markets via partnering and licensing agreements.
The first global audition heat commences on 30 September 2017 and the grand finals will close on 2 December 2017 with the Finale scheduled for 14 December 2017.
MSM Managing Director, Mr Dion Sullivan, said the USA and Australian launch of the Megastar App and the imminent commencement of the Megastar Competition is a major milestone for the Company and its shareholders.
“This culminates what the team has been working on for 20 months; the world’s premier global, mobile-first, talent competition,” he said.
“Our native applications, available in both the Apple App Store and Google Play, integrate the most engaging elements of mobile entertainment/gaming and mobile commerce (in app purchases, advertising) along with a compelling entertainment experience. Our beta testing leaves us confident that users find the experience very much to their liking.
“Monetisation begins with in app purchases, followed by advertising, moving to sponsorship and eventually brand co-revenue leveraging data generated by user’s content consumption behaviours.
“With a social audience reach of more than 130M and leveraging our partner marketing, we feel confident we can attract and engage a sizable global audience.,” Mr Sullivan added.
MSM recently grabbed international attention when it announced that eight‐time Grammy Award winning superstar Usher had agreed to join the company as Chief Creative Director for the Megastar global talent competition.
Usher, who has a social media presence of over 68 million ‐ Facebook (46 million), Twitter (12.3 million), Instagram (6.7 million) and YouTube (3.3 million), will also be the competition’s headline judge, mentor and brand ambassador and he will use his popularity and influence to market and promote the brand across his social media platforms, whilst also maintaining audience and media attention with a high impact role as headline Judge.
At the time of his appointment, Usher said, “Megastar is unlike any talent competition out there. It spotlights the power of emerging global talent and turns seemingly unattainable dreams into reality. I’m thrilled to be a part of this creative, next‐ generation online competition.”
“I look forward to lending my experience as a global performer and mentor to the process, by motivating talented contestants from all over the world, to push themselves to achieve personal bests and career breakthroughs,” he added.
At the same time as MSM was wowing the entertainment sector with the Usher announcement, the company reported that it had successfully secured commitment for subscriptions for a $10.5 million capital raising, of which $1.9 million will support marketing and production of the first Megastar tournament, and $5.7 million towards managing the competition and payments to key personnel behind the world‐first talent competition.
Part of the marketing budget will go towards strategic campaigns operated by the recently appointed international PR agencies – Rogers & Cowan – which has been appointed to roll out Megastar’s PR campaign in the United States – and 3 Monkeys Zeno – which will undertake the company’s UK campaign.
Rogers & Cowan works with a diverse roster of clients ranging from A‐list celebrities to content creators and consumer lifestyle brands ranging from John Boyega to J Balvin and brands from McDonalds to Mastercard.
3 Monkeys Zeno is part of the global Zeno Group and has multi-national clients including Netflix, Schweppes, Budweiser and Lenovo Moto.
The MSM Megastar platform is designed to leverage the global addiction for the unearthing of the new “star” in such shows such as Idol, The Voice, X-factor, etc. The Megastar concept is made even more exciting through the awarding of massive prizes and the support of international superstars such as Usher.
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 Megastar concept and operation is backed by an experienced, high profile Board and Advisory team including: Chairman Adam Wellisch with over 20 years’ experience in consulting, product and business development, technology strategy, business administration and corporate governance.
Managing Director and CEO Dion Sullivan with more than 20 years’ experience in digital marketing, social gaming, e-commerce, consumer packaged goods and entertainment and recent roles within Clairol/Bristol Myer Squibb, FTD.com, Bank of America, Viacom, MTV Kids & Family, Video.jax and Betfair/TVG North America.
Executive Director; Asia Pacific Sophie McGill is been involved in the development and production of popular TV programs such as Big Brother, The Match, Deal or No Deal.
Non-executive Director – Mark Clements has 18 years’ experience in corporate accounting and public company administration and is the founder of Bailion Corporate Services.
The US Advisory Board is headed up by Doug Barry with over 20 years’ experience in media, entertainment and technology. He founded Selby Ventures in 2000 and was an original investor in Pandora Media, the largest global internet radio service with over 125 million registered users.
Other members include: Michael Pole, a studio executive with 25 years’ experience managing the development of successful video games, Jennifer Herman, a Zynga executive, focused entirely on the iOS App Store and Google Play and Antonio Mollins who has held roles as senior data scientist at Netflix and as a quantitative analyst at Goldman Sachs.