Global Karaoke Network Inc. (OTCBB GKNI) is a multimedia company specializing in social media music platforms that deliver rich entertainment across a global spectrum of users. The company has licensed technologies that include www.MeAndMic.com , the world's first fully integrated singing social network. MeAndMic.com provides immediate access to online karaoke, using a simple user-friendly platform with access to a wide range of songs for all generations.
The company's mission is to bring the love of music to the global community while providing people with the ability to share and interact in real-time. MeAndMic is a representative for the Karaoke World Champions (KWC) and is building a large fan base for its hybrid of live venue competitions matched with the addition of online entries who will compete in singing competitions on a global scale.
Almost four years was spent developing a versatile social networking platform that would allow for exceptional member tracking, profile development and personalization platform. The technology is proprietary and there are a number of trademarks in place.
- ASP.Net 2.0 for site based features and concepts.
- The data model uses a tiered approach:
- A Data Access Layer (DAL) that interfaces with MS SQL Server as our back-end database system
- A collection of Business Objects created using C#
- A Business Logic Layer that provides a controlled interface to the web controls
- The Karaoke Recording Studio application was developed using Java using the Eclipse toolset. There are some third party libraries in use but all are open source.
- Additionally Flash is used in a number of traditional areas on the site as well as is the medium for the site player.
The social networking platform is proving to be a natural fit for entertainment artists, labels and promoters to turn to broadcast their work. A number of revenue streams have been identified and a constant aim of GKNI is to diversely tap into as many revenue streams as possible.
· Periodic Membership: Members can register and use the application for free. Under a free account they are restricted to the number of tracks they can access as well as the maximum number of recordings they can add to their profile. For a monthly fee they can raise their account to a Gold Membership, which gives them access to the full track library as well as a greater cap on their recordings.
· Member Up sells: GKNI has targeted a low membership fee to specifically counter the competitors.
· Event Management Package: This would be targeted towards KJ's (karaoke jocks), and would allow them to create and manage event listings. The initial fee will be $8 per month.
· Enhanced Effects: The next version of the recording application will have support for studio effects allowing members to tweak their recordings. This would be a $5 fee on top of Gold membership.
· Revenue: GKNI revenue has been identified from three primary sources:
· Online Entry Fees: GKNI will receive a share of entry revenue for all online entries to individual country competitions.
· Venue Hosting Licenses: Within Canada MeAndMic.com will also realize revenue from venues that wish to host an official KWC playoff contest.
· Sponsorship: As with any large competition revenue will also be realized from sponsors wishing to increase their exposure. As an aside Roland Music had become an official sponsor of the KWC in 2010, GKNI in turn has worked with Roland Canada to become a key sponsor of the CNKC. GKNI will continue to incorporate other symbiotic sponsors to represent this marquee event.
· Other Competition Entries: MeAndMic.com will introduce a series of contest models. Some with the goal of maintaining traffic and membership, however we also plan to introduce a regular series of entrance paid or brand sponsored competitions.
· Advertising: As traffic increases so does the advertising potential, this is true of all websites. MeAndMic.com has a couple of additional noteworthy points. First by way of the member profile we can provide targeted advertising at a premium. Second when they members are using the recording application we have a degree of control that is far greater than through a web page. We can rotate, position, and otherwise dictate how any ad is presented with precision.
· Song Portal Linkage: A topic on the table with the publishing companies is to provide linkage to a song purchase portal for the original recording of a given karaoke track. In other words a user records a song and in the same interface is presented with a link to go and buy that track.
Why should I be interested in Global Karaoke Network Inc.?
· The Application Approach: By taking an application approach rather than an embedded plug-in approach we have given ourselves a number of advantages:
· Lower overall bandwidth: by having the user's record locally and caching the track we drastically reduced estimated bandwidth usage, lowering our operating expenses dramatically.
· Increased deployment: two of the main competitors have issues working in Windows XP and don't work at all on the Mac OS. The application current works in both XP and Vista and we are planning to deploy a Mac version within the next quarter. It should be noted that while the Mac only represents 7% of market share, it is the major presence amongst university students and young professionals.
· The Social Aspect: We believe that none of our competitors have fully realized the social and supportive nature of this audience and our testing feedback has only supported this. The other sites either have no communication platform or ad hock methods like user forums. We've provided a full featured connection and messaging system.
· The Competitive Aspect: While our competitors have had some one-off contests as promotions, none have understood the competitive nature of this market and its potential. By having head-to-head challenges and progressive leader boards, it will give incentive for members to come back, upgrade to gold to get better songs and maintain their membership. The paid competitions are a potential gold mine; one only has to look at the demand for these styles of programs on all channels and in all countries to see this.
· Price Point: The reduced bandwidth usage and relatively lower server usage means that a $6.99 per month fee is viable. This is considerably lower than the competitors at an average $10-12 range.
· Legal Song Use: GKNI has secured long term license agreements with Sony Music and EMI Music Publishing as well as a number of smaller labels. Additionally a similar licensing deal with Universal has been negotiated pending execution. As such MeAndMic.com is positioned to one of a very small group of fully legal karaoke sites. The majority of competitor sites either have no license agreements in place or are in breach of license, this makes them unattractive to partnerships with marquee sponsors in addition to risking legal reprisals.
Legal name: Global Karaoke Network Inc.
Industry: Internet Information Providers
Full Time Employees: 5
Public Company: SEC Reporting and fully audited
Outstanding: 5,216,000 as of May 5, 2011
CUSIP: 37951U 104
SIC Number: 7370 SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Year End: June 30
State of Incorporation: Delaware
Products: Social Media platform, online music and voice recording software, internet websites
Address: 1114 17th Ave., Suite 105, Nashville, TN 37212
Corporate website: www.globalkn.com
Ecommerce Website: www.meandmic.com
Transfer Agent: Empire Stock Transfer Inc.
1859 Whitney Mesa Dr.
Henderson, NV, 89014
Auditors: Rotenberg Meril Solomon Bertiger & Guttilla, P.C., CERTIFIED PUBLIC ACCOUNTANTS
Park 80 West, Plaza One
250 Pehle Avenue, Suite 101
Saddle Brook, NJ 07663
Tel: (201) 487-8383
Jason Sakowski -C.E.O.
Mark Watkins - President of MeAndMic.com (licensed supplier of technology)
Jaxon Hawks - Vice President Marketing and Promotions of MeAndMic.com (licensed supplier of technology)
Conan Galloway - Vice President of Development of MeAndMic.com (licensed supplier of technology)