Gigacrate caters to DJs, music enthusiasts and artists alike by providing unique services that address their specific evolving needs. These needs are currently not being met with current retail and online music store models.
Our market is comprised of three different overall groups and several subgroups or market segments which we will discuss later. The overall groups are A) digital DJs and music enthusiasts, B) musicians/record labels and C) gear related manufacturing companies.
In 1999, DJ turntables became the first instrument in a century to outsell the guitar. Now they outsell every kind of guitar by a ratio of two to one. Manufacturing companies have sprouted up all over the place in the past 10 years (Stanton, Numark, Vestax, Rane, Technics, Pioneer, Ecler, Shure, Gemini, Denon, etc..) in an effort to capitalize on this rapidly growing market. It is evident through the sheer numbers of manufacturing companies, that there are hundreds of thousands of DJs in the world today. In fact, according to the CIA World Factbook, there are about 44,000 radio stations worldwide! Record Labels and Manufacturing companies are few in number, but have significant capital backing and are often interested in cross-marketing their products with other DJ related products and services.
In a recent article Tom Ryan, senior vice president of digital and mobile strategy development for EMI Music, points out that "there are a large number of people who need guidance from tastemakers to learn about music". In the music world, the DJ is this tastemaker. Record labels and artists have long understood that the DJ is the cornerstone and therefore spend lots of money marketing directly to DJs in an effort to help spread the word about their music to the people.
Traditionally DJs purchased vinyl to play on turntables. However, with the advent of technologies such as Final Scratch, Serato Scratch Live and various CDJs, DJs are now making the switch to digital media. While digital music sites are nothing new (iTunes, Napster, etc..), there are hardly any digital music sites that cater specifically to the digital DJ. These DJs need songs in multiple formats such as instrumental, acapella, radio/clean, and dirty. DJs also need songs to be properly tagged with more info than a normal listener would require. Things like genre, release year, label and BPM are essential bits of information.
There are some 355 online music sellers, according to a report by the International Federation of the Phonographic Industry released in Jan of 2006, and their revenues tripled to $1.1 billion in 2005. Napster recently announced that it has 500,000 subscribers and more than $100 million in cash. Emi chairman, Eric Nicoli states "To talk about dominance this early in the game is short-sighted. It's not a five year game, it's a 30 or 40 year game." All of the major players (Apple, Real Networks, Napster and EMI) are not even going for the markets we are discussing above. There is a huge void currently and thus an opportunity for success.
We are currently seeking investors, artists, labels and DJs. Please contact us for more information!
