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VidFlow

Socially driven music video streaming

As seen on "Gründerne" on NRK1 (https://tv.nrk.no/serie/grunderne/MDHP11000416/sesong-1/episode-3), Norwegian award-winning startup vidFlow, the world’s first music video streaming service to land licensing deals with Universal, Sony and Warner Music, offers the world’s largest selection of official music videos. The videos are presented in a premium, social environment, focusing on quality, discovery and interaction to become the most efficient platform for distribution and consumption of music related video content - music videos, concerts, documentaries, interviews and more. vidFlow has been labelled “the Spotify for music videos”, and tailors videos to your preferences - making music video consumption and discovery easier than ever across web, mobile and tablet, all while contributing directly to the artists.

Investor proposal

In 2014 vidFlow closed the most successful Norwegian equity crowdfunding, right here on FBM, raising €133.000 in only a few days.

Now we are aiming to improve our own record by raising €150.000 to kick start a seed round of €500.000, intended for investments in the validation of vidFlow 2.0 as well as technical and organizational preparations for international expansion to 7 countries, including the UK and the Nordics. This is the last chance for "Average-Joe" to invest in the company, and with a minimum investment of only €500, anybody is welcome to join our family!

Product

The problem this product solves

Since the demise of traditional music TV, consumers have been left with the responsibility of scanning through a myriad of sources and filtering out irrelevant content, to re-discover old and discover new music videos.

With YouTube as the main platform for music videos, distribution of such content has been spread around various media outlets without offering a one-stop shop providing quality content and curation. Despite having a distributional value, this fragmented consumption comes with a price – low CPM levels and a risk of consumers moving on to low-quality, non-music related content. An inefficient, fragmented model of distribution and consumption.

How the product solves it

With vidFlow, the world’s first music video streaming service to land licensing deals with Universal, Sony and Warner Music as well as independent labels, the world’s largest selection of official music videos is gathered in one service available on desktop, iOS and Android - a true one-stop shop. The videos are presented in a premium, social environment, focusing on quality, discovery and interaction to become the most efficient platform for distribution and consumption of music related video content - music videos, concerts, documentaries, interviews and more.

No more browsing around on numerous blogs and different services to find high-quality videos!

Product features

In a socially driven environment, users find curated interactive playlists recommended based on their mood, preferences and predictions, or use on-demand search, all enjoyed in an intuitive and seamless lean back experience - a visual radio - making music video discovery and consumption easier and more effective than ever.

Adding to our proven lean back experience is a dynamic social timeline feeding you the latest videos, including music videos, concerts, interviews, exclusive behind-the-scenes footage and more. Never miss a beat - follow and interact with friends, artists, blogs and more to create your personal stream with the latest music videos.

Product use cases

Use vidFlow on web, mobile or tablet, or stream it to the big-screen using AirPlay/Chromecast and stream music and video when you're having friends over for a pre-game or party, while you're doing homework, cooking dinner for the family or cleaning the house. Discovering new and re-discovering old visual music has never been easier. Our goal is to again make visual music a bigger part of people’s lives, while contributing to a higher and more efficient consumption of music videos - cross-platform and on a global scale - benefiting the music industry, artists, brands, and music lovers around the world.

Team

Nassir Achour avatar
Nassir Achour Founding CEO
Nassir has always had an entrepreneurial mindset. He founded his first company Achour Trade & Tradition at 18, managing gourmet food web shop mmmat.no with 3 employees. He has extensive knowledge from sales and marketing within real estate, and has several years of valuable experience from the music industry having ... See more
Nassir has always had an entrepreneurial mindset. He founded his first company Achour Trade & Tradition at 18, managing gourmet food web shop mmmat.no with 3 employees. He has extensive knowledge from sales and marketing within real estate, and has several years of valuable experience from the music industry having founded independent record label and management aCorp Entertainment in 2011 and working close with the major labels before founding vidFlow as CEO. Nassir has two years of BBA Management studies from BI Norwegian School of Management and MOOC studies in Technology Entrepreneurship from Stanford University. See less
Shire Marius Standnes avatar
Shire Marius Standnes Founding CFO
Shire, an avid footballer, moved to the US to pursue a student-athlete academic path. He graduated (Magna Cum Laude) from Florida Atlantic University with a double BBA in International Business & Trade, and Marketing in 2009 to begin his already agreed position with PwC as a Financial Auditor/advisor. Since then ... See more
Shire, an avid footballer, moved to the US to pursue a student-athlete academic path. He graduated (Magna Cum Laude) from Florida Atlantic University with a double BBA in International Business & Trade, and Marketing in 2009 to begin his already agreed position with PwC as a Financial Auditor/advisor. Since then he has completed a MSc in Accounting and Auditing from BI Norwegian School of Management and a MSc Investment and Finance from Queen Mary, University of London in 2012-2013, before founding vidFlow as VP/CFO. Shire has since April 2014 been granted a 50% leave from PwC to focus even more on vidFlow. See less
Morten Krogh-Moe avatar
Morten Krogh-Moe Board member / Partner
Morten is CEO of analytics technology firm Sannsyn, consisting of analysts, data scientists and developers who currently focuses on harnessing the potential in Big Data - and will soon deliver services to vidFlow. He is former Senior Project Manager at digital services and development firm Making Waves, and founding Partner ... See more
Morten is CEO of analytics technology firm Sannsyn, consisting of analysts, data scientists and developers who currently focuses on harnessing the potential in Big Data - and will soon deliver services to vidFlow. He is former Senior Project Manager at digital services and development firm Making Waves, and founding Partner of IT consultant company Cefalo. Morten, with his extensive domain knowledge and network within the digital media and software industries, also acts as an independent consultant and board member for other information technology companies. See less
Per Høiby avatar
Per Høiby Vice-Chairman of the Board / Partner
Per is the Managing Partner of the renowned communication agency First House, and former Partner and CEO at JKL Group. He also has extensive experience in consultancy in respect of media strategy and crisis management from The Norwegian Armed Forces as a Navy Captain since 2004. He is the former ... See more
Per is the Managing Partner of the renowned communication agency First House, and former Partner and CEO at JKL Group. He also has extensive experience in consultancy in respect of media strategy and crisis management from The Norwegian Armed Forces as a Navy Captain since 2004. He is the former military advisor for two Ministers of Defense, spokesman for the Chief of Defense for four years, and for three years he was the Aide-de Champs for HM King Harald V of Norway. Per’s academic background includes management, finance, and logistics studies at the Royal Naval Academy, and strategy and operations studies at The Norwegian Defense Staff College. See less
avatar
Morten Andreassen Chairman of the Board / Partner
Morten has more than 15 years experience as an entrepreneur, owner, and board member of several companies, mainly within the film and music industry. Among other things, he founded the online CD and DVD store Zailor.no, which was later sold to CDON.com. He has experience as a merchandise agent and ... See more
Morten has more than 15 years experience as an entrepreneur, owner, and board member of several companies, mainly within the film and music industry. Among other things, he founded the online CD and DVD store Zailor.no, which was later sold to CDON.com. He has experience as a merchandise agent and trade marker for artists such as Justin Bieber, Oasis, Coldplay, Kanye West, David Bowie, and as owner and CEO of Unit AS, he has managed highly successful bands and artists such as Lene Nystrøm (of Aqua) and Lene Marlin and currently manages hip-hop duo Karpe Diem, artist Marit Larsen and World Champion boxer Cecilia Brækhus. Morten has since 2012 been an Attorney at law firm Elden (Advokatfirmaet Elden DA). See less
Peter Peters avatar
Peter Peters Advisor / Partner
Peter has several years of valuable experience from the music and entertainment business. He is the manager for the internationally acclaimed duo Madcon, and has talent management for model Triana Iglesias, Charlotte Thorstvedt and Camilla Pihl and others through Friendly Entertainment. He is former Creative Director for Universal Music, acted ... See more
Peter has several years of valuable experience from the music and entertainment business. He is the manager for the internationally acclaimed duo Madcon, and has talent management for model Triana Iglesias, Charlotte Thorstvedt and Camilla Pihl and others through Friendly Entertainment. He is former Creative Director for Universal Music, acted as judge on the music talent TV show X Factor, and was a consultant for the music talent shows Idol and The Voice. Peter is also involved in several ventures that operates in the intersection between business and entertainment, and serves as a strategic advisor for vidFlow. See less
Gisle G. Stokland avatar
Gisle G. Stokland Advisor / Partner
Gisle is the owner and head of web magazine 730.no, and a trusted input provider for major Norwegian media outlets, e.g. VG etc. He has extensive experience from companies such as Billboard, MTV and ZTV and currently works with Music Norway and Melodi Grand Prix (Eurovision in Norway). Gisle is ... See more
Gisle is the owner and head of web magazine 730.no, and a trusted input provider for major Norwegian media outlets, e.g. VG etc. He has extensive experience from companies such as Billboard, MTV and ZTV and currently works with Music Norway and Melodi Grand Prix (Eurovision in Norway). Gisle is a graduate of BI Norwegian School of Management and University of Connecticut School of Business, and serves as a strategic advisor for vidFlow, with emphasis on the editorial content of vidFlow channels and marketing. See less
Reinert "Ray Kay" K. Olsen avatar
Reinert "Ray Kay" K. Olsen Advisor / Partner
Ray Kay is an award-winning and world-renowned music video director, and has directed music videos for artists such as Justin Bieber, Britney Spears, Lady Gaga, Cher, Diddy, and Beyoncé. He has unquestioned knowledge and experience from the music industry in Norway and the US especially, and his network and access ... See more
Ray Kay is an award-winning and world-renowned music video director, and has directed music videos for artists such as Justin Bieber, Britney Spears, Lady Gaga, Cher, Diddy, and Beyoncé. He has unquestioned knowledge and experience from the music industry in Norway and the US especially, and his network and access to both international artists and brands have proven and will prove to be valuable in future marketing of the service. Ray Kay serves as a strategic advisor and ambassador for vidFlow. See less
Ryan Leslie avatar
Ryan Leslie Advisor / Partner
Ryan Leslie is an American Grammy-nominated recording artist, signer-songwriter and record producer. Ryan has produced singles for a number of prominent artists such as Cassie, Britney Spears, Chris Brown and Beyoncé. He is also a Harvard University graduate and an entrepreneur as the founder and CEO of SuperPhone and NextSelection ... See more
Ryan Leslie is an American Grammy-nominated recording artist, signer-songwriter and record producer. Ryan has produced singles for a number of prominent artists such as Cassie, Britney Spears, Chris Brown and Beyoncé. He is also a Harvard University graduate and an entrepreneur as the founder and CEO of SuperPhone and NextSelection Lifestyle Group amongst others. Ryan joined the vidFlow-team in 2015 as a partner and advisor with emphasis on content marketing and artist engagement. See less

Market

Target Market

According to IFPI's Digital Music Report 2015, the music industry's digital revenues in 2014 totaled US $6,85bn, up 7% from the year before, and amounted to 46% of the industry's revenues. Subscription revenue from digital services rose 39% to US $1,57bn, and consisted of 41 million subscribers, a number which have five-folded over the last four years. Music subcription revenue now makes up for 23% of digital revenues globally. Ad-supported streaming revenue are up by 38,6% in 2014. In the Nordics, subscription streams income make up about 90% of total digital revenue, and the digital penetration is higher than ever.

Competitive landscape

The competitive landscape consists of direct competitors providing music video providers such as YouTube, Vevo and others, along with indirect competitors such as audio streaming services. Some of these services do not have all the content that users expect, while others are swamped with unofficial or irrelevant content. On vidFlow, users find solely official high-quality content, licensed directly from the labels. Having signed licensing agreements with the three major labels Universal, Sony and Warner, as well as several independent labels, vidFlow offers the world’s largest official high-quality music video library. For more information regarding our service, see our website.

Unique differentiator from competitors

What sets vidFlow apart from other music services is the fundamental approach of valuing music videos as an independent product, and offering this visual musical experience in an environment that allows an effective distributing and monetizing of this type of content. In the initial beta period of vidFlow (Sep 2014 - Mars 2015), the average user watched 50 minutes of video per active day, which comes down to more than 12 official music videos per user per day. For comparison, YouTube dishes out an average of 5 videos per user session, counting not just music videos.

Company revenue streams

vidFlow employs the Freemium model through a free ad-supported version and a premium ad-free subscription version with extended functionality. We strive to challenge the boundaries of the digital ad market, disrupting the space by leaving behind the traditional ways of advertising and introducing a model helping brands associate themselves with the most premium video content as an integrated part of the user experience.

The model is proven and sustainable, benefiting the industry as a whole and the artists directly, as vidFlow pays out a substantial portion of its revenue through royalties. Still both versions has subscription/stream contribution margins of 20-35%.

Product/service distribution

vidFlow is available on web, iOS and Android, and continuous development for additional platforms will follow. We are currently working towards distribution deals with two leading Norwegian companies on two different mediums, with an aim of going live in Q2 2016.

In regards to our international expansion, we are looking for partners interested in a top tier cross-platform service that can help your business become the center of home and mobile entertainment. Whether through bundling or profit share models, vidFlow can be a value-adding service that helps reduce churn - under the radar, over the top.

Execution

Previous milestones/traction

  • 12.12.12 vidFlow AS founded
  • Q1-13 Development and design team selected, converted programming costs of NOK175K and design work of NOK1,5M for shares in the company
  • Q2-13 Angel funding round; NOK526K raised at NOK6,5M valuation
  • Q1-14 Angel funding round; NOK1,9M raised at NOK9,1M valuation
  • Q1-14 Granted SkatteFUNN (Norwegian R&D tax deduction scheme) and granted NOK900K from Innovation Norway
  • Q1-14 vidFlow BETA launch and vidAwards 2014 during by:Larm
  • Q3-14 vidFlow commercial launch on iOS, Android and web (student-launch)
  • Q4-14 Crowdfunding; €133K raised at €2,2M (NOK21,2M) valuation
  • Q1-15 vidAwards 2015 during by:Larm
  • Q3-15 Angel funding round; NOK1,7M at NOK24,2M valuation

Next key objectives

H1 2016
  • vidAwards 2016 @ by:Larm
  • Launch, vidFlow 2.0 for web and iOS
  • Product validation and fit
  • Funding, seed
  • Key staffing, UK & The Nordics
  • Key partnerships, UK & The Nordics
H2 2016
  • Launch, UK & The Nordics
  • Traction, UK & The NordicsProduct validation and fit
  • Global expansion preparations
  • Funding, Series A

Partnerships

With limited resources, but plenty of passion and a fearless attitude, vidFlow has managed to introduce a full-fledged premium music video service with a global potential in a growing market. Our trusted partners on this journey, whether through funding, content or distributional partnerships, are playing a critical role in laying the foundation for growth. By scaling the service and effectively penetrating the markets, vidFlow shall be the best and preferred source for effective music video discovery and consumption - benefiting both fans, artists, and our partners.

For a list of our partners, see our website.

Use of funds

See "Investor Proposal" above.

The industry is yet to experience a service valuing music videos as an independent, effectively distributed and monetized product. vidFlow fundamentally differs from services offering music videos as a bi-product. Within the next few years the users will determine which approach they prefer, and by then we will be established as the best video solution. In a worst case scenario where users prefer integrated audio-video services, by then vidFlow will have an established user base, platform, infrastructure, experience, and team - representing a favourable exit option as audio-only services will be looking for a video solution.

Industry Certifications/Awards

For all other press, see our website.