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2020 MIT Platform Strategy Summit
July 8, 2020, Cambridge, USA
2020 MIT Platform Strategy Summit
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2020 MIT Platform Strategy Summit - Panel Discussion: Platforms and the Experience Economy
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  • Description
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About the talk

Moderator: Joseph Pine, Strategic Horizons LLP

Panelists: Andrew Beranbom, Founder & CEO, First Tube Media, Laura Simpson, CEO and co-founder, Side Door, and Ronald van den Hoff, Co-owner, Seats2meet.com

05:16 Essence of platform First Tube Media

07:00 Side Door introduction

08:17 Seats2Meet.com platform

10:17 Experience of platforms

11:19 Everyone can be an agent

14:43 Innovations

16:47 Case studies of innovation

21:44 Seats2Meet.com: How it typically used by free agents, what outcomes

28:22 What are the complications that arise from three-sides of platform

29:13 Corona crisis

36:14 Platform revolution

36:36 Platform's facilitating and matching

43:43 Questions

About speakers

Joseph Pine
Co-Founder at Strategic Horizons LLP
Devin Cook
Executive Producer at MIT Initiative on the Digital Economy
Peter Evans
Managing Partner at Platform Strategy Institute
Andrew Beranbom
Founder & CEO at First Tube Media
Laura Simpson
Co-Founder & CEO at Side Door
Ronald Hoff
President & Co-Founder at Seats2Meet.com

B. Joseph Pine II is an internationally acclaimed author, speaker, and management advisor to Fortune 500 companies and entrepreneurial start-ups alike. He is cofounder of Strategic Horizons LLP, a thinking studio dedicated to helping businesses conceive and design new ways of adding value to their economic offerings. In 2020 Mr. Pine and his partner James H. Gilmore re-released in hardcover The Experience Economy: Competing for Customer Time, Attention, and Money featuring an all-new Preview to their best-selling 1999 book The Experience Economy: Work Is Theatre & Every Business a Stage. The book demonstrates how goods and services are no longer enough; what companies must offer today are experiences – memorable events that engage each customer in an inherently personal way. It further shows that in today’s Experience Economy companies now compete against the world for the time, attention, and money of individual customers. The Experience Economy has been published in fifteen languages and was named one of the 100 best business books of all time by 800ceoread (now Porchlight). Mr. Pine also co-wrote Infinite Possibility: Creating Customer Value on the Digital Frontier with Mr. Kim C. Korn, Authenticity: What Consumers Really Want with Mr. Gilmore, and in 1993 published his first book, the award-winning Mass Customization: The New Frontier in Business Competition. Mr. Pine consults with numerous companies around the world, helping them embrace the ideas.

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Peter Evans is the Managing Partner at the Platform Strategy Institute, a consultancy dedicated management strategy and application of platform business models across a wide range of sectors. Peter has over 20 years of experience leading teams in identifying, framing, assessing, and communicating high-priority marketplace trends and disruptions that support business planning and investment prioritization. He has specialized in helping companies see around corners, anticipate key market trends and craft seminal thought leadership that framed major multi-year growth initiatives. At KPMG, he was a Principle in the Innovation and Enterprise Solution group responsible market and emerging technology sensing, innovation portfolio management and business development. To support the firm's intelligent automation strategy, he led a major study of how the world's largest enterprises are adopting artificial intelligence. Prior to joining KPMG, Dr. Evans was Vice President at the Center for Global Enterprise a nonprofit established by Sam Palmisano, former Chairman and CEO of IBM. He was instrumental in framing and delivering on the Center’s research, business education, and global CEO engagements. He also worked as an independent consultant for a variety of corporate and government clients, including the US Department of Energy, the OECD and the World Bank. He received his master's degree and PhD degree from the Massachusetts Institute of Technology.

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First Tube Media is the leader in delivering live media experiences that drive industry transformation Entrepreneurial Internet executive with over 20+ years experience building online businesses. Specialties: Scaling Start-ups and Revenue Operations, SAAS, Content Marketing, Branded Content, Digital Video, OTT, Music Rights and Publishing, Influencer Marketing, Selling into Emerging Markets, Enterprise Sales and Business Development Management, Digital Marketing, Product & Monetization Strategy, E-commerce, Lead Generation, Customer Acquisition, Loyalty & Retention, Product & Project Management. Customer Success Process and Management, P&L Management

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Laura Simpson is the CEO and co-founder (along with artist, Dan Mangan) of Side Door, a platform marketplace founded in 2017. Side Door’s mission to create shows anytime, anywhere - first with in-person shows and now online. The platform marketplace is built to connect artists with curators, venues, service providers and audiences to make booking, ticketing and payments easy, fair and transparent. Side Door provides robust tools and support, without any up-front costs to the artist. Laura has spent much of her life serving the needs of artists and promoting live performance. Since 2007, she has worked with Music Nova Scotia, the Halifax Jazz Festival, the East Coast Music Awards, CAPACOA and the Halifax Pop Explosion. She has hosted house concerts (The Syrup Factory) since 2011. In 2015 she went to Los Angeles for four months to mentor with the former president of Warner Bros Records. Upon returning, she evolved The Syrup Factory into an artist services company which still thrives today and is managed by her partner, Sarah Jamer. She believes experiencing amazing live art in intimate community settings leads to stronger human connection, greater empathy and improved mental health.

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I am co-founder of CDEF Holding BV, a Holding company with a remarkable range of ventures operating on the disruptive intersection of the Hospitality Industry and the entrepreneurial world of Internet. CDEF incorporates ‘much discussed’, disruptive exponential formulas, like the co-working and meeting centers Seats2meet.com and the Society 3.0 Foundation. Seats2meet.com, with over 150 locations worldwide, has become an interactive breeding ground for entrepreneurship, inspiration, innovation, cross-linking and cross-pollination. We are creating our in-house software, but also smart software like ‘The Serendipity Machine’. A publishing company, Society30, completes this range of innovative ventures. My book Society 3.0 was published in April 2011 by the Society 3.0 Foundation, creating a context for all CDEF’s activities. This foundation is a movement, a guiding light and a change agent in our ever-dynamic world. Its activities, books, publications, events and website are the visualization and exploration of the vision and mission of the CDEF Holding. In addition of being a hospitality entrepreneur, Ronald is also an online entrepreneur and enthusiastic Web-trendstrategist. In addition to his work within CDEF Holding BV., he works on innovation with (international) hotel chains and other service companies in the field of E-commerce, E-communication, Business Modeling, Value Networks and Organizational Innovation.

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It is now my pleasure to bring back your Evans who will introduce our next panel on platforms and the experience economy by Peter. Thank you so much. You know, we try at the MIT platform strategy Summit to explore all dimensions of platforms. We heard this morning about the Platforms in the industrial space, but platforms are also having an increasing role in experiences. And so it's my great pleasure to introduce Joe Pyne. Joe Pyne is an accomplished author is a co-founder of

a consulting firm that specializes in the experience economy, and he, and I have teamed up to do. An exploration Platforms in experiences. So, thank you very much for joining us today. Where are you? I'm in my home office in the Minnesota, actually, for the last day. Tomorrow. I move to a new house with my wife on to it until like them. Great. Well, in that busy move, thank you for taking the time today to share with us. And so with that, take it away

and my birthday experience economy is that we moved from the growing Economy. Based off Commodities, to an industrial economy based off good. And today, were inexperienced accountant. We're businesspeople, want our experiences. Your experiences are memorable events that engage each person and inherently person away. And and they are then again, crate that memory as the Hallmark of the experience. And you're basically experiences are every place for people don't want to be

right now because of this Forerunner crisis, that's how you do with it. It's an experience, at least a physical one. Are there. I've been looking this across all four of those economic conference. Commodities. Have always been sold on platform. I still remember to visit last May to, to Flora Holland, which is like the original a flower market. I were flowers. Come in from all over the world in our exchange there. And everything's done digitally online with the physical movement of the flowers are in the place. And then we have good flat forms. Of course with Amazon. Probably be

in the preeminent example, their services platform, you think about hoober about getting from point A to point B through that digital platform and then experienced platform. Do you think about as like Airbnb Noir is the RV. Was just a sore spot, bro, cuz it just selling a couch or spare room in net for the begin teaching, their their hosts to be hospitable and how to create great experiences. And of course, they specifically added on a trip sponsoring the experience function and now since covid-19 head and online experience on some sort. Be an experience that is one more often than

actually talked about in the book beyond experiences. And that's where you's experiences is the raw material to guide people, to take that. She helped them achieve their ass. And we call that a transformation that's like going to the fitness center to get washboard, abs are going through Health Care to go from sick too. Well as smoking sensation program to go for a smoker or nonsmoker, all of those are transformations, and that allowed the experiences. We have her that because we have aspirations, you want to cheat. And so you see transformation platforms. Like, edx, like, Khan Academy

B2B platform like better up, which is the coaching platform for executive. Now, all platforms have transactions know, whatever the type of platform is. It has a transaction to a naval. That exchange value of court with Kimani is usually called a trade as opposed to transaction with good platform to have transaction with Services platforms. You got on top of that interactions between the two sides of the platform with experience platforms. And Top of the transactions interactions. You now add encounter as guests encounter what engages them inside of the experience and then with

transformation platforms are also outcomes like the achievement of the aspiration. What you've done by the experience is built on top of the services surrounding the good bad at all. It's just that the staff is what it is. We all are together this year. I've been researching this and we've discovered, hundreds of experience by far as we've been investigating scores of them and take a look at them. And we brought three of these here together today. And this panel session to share their platform strategies with you and starting with, I Andrew berenbaum, who is the founder and CEO

of First tube media. A branded live streaming performance platform. And then, secondly, we have Laura Simpson CEO, and co-founder of side door, which matches artist with spaces to drink shows, and which Steven Page mentioned that he uses that earlier today. And then finally, Ronald, From the Netherlands, a co-owner of seats to meet dr. On which match is free agent, worker is with spaces or seats, in which to work. So, like to join our Andrew Laura and Ronald under the panel. Alright, and and if you could, if you could tell us more about the essence of your platform

and how you got into the business and Andrew was, it will start with you. There we go. Sorry about that ensue. We got into the business in 20 years. We saw streaming is kind of a new frontier about 5 years ago. The kind of, we were kind of Consular washing the changes from social video. And now, streaming is a new frontier for Brandon marketing. And we saw how hard it was for Brands to understand, kind of how to harness the medium. And then also understand very specifically to Ry our backgrounds are in

performance marketing agency. We started in music as it's kind of our core vertical and as we understood and research sponsorship dollars, they invested in in music by and large Brands, had a hard time understanding what the ROI was and we saw music as the most popular type of content that was being consumed on, on the internet and across. In all of them, has the platforms you to 90% of you to do. This is music and it is it started to evolve a bit but you know by and large they didn't know how to harness in the scale the way. And so we come in. Louis as a platform

combination Mountain services with technology Technologies kind of starting to grow as we mature in the market quite a bit and and and we weep our branded a brand new and Live digital experiences. Where is super super horrible? How about you? Thanks a lot. You need to be here in the middle of the UI. We started as a Marketplace. The concept being how artists can have agency in their own Destinies and end live performance, being the greatest source of revenue for them. We knew that a lot of artists were

a huge problem self-booking and finding Their audience. And so we were doing it all in person before covid-19 and I'm switch to online streaming concerts as of March 21st and has completed nearly 200 shows since then lots of interesting experiences along the way. But yeah, we essentially still operate as a Marketplace. It's a booking and ticketing platform. That also helps match the artist with people who might be involved in the show. So that might be someone who's the moderator, you know, like we're doing

right now. Might be somebody who's going to Photos that might be somebody who's going to do sound tech so we can help collaborate and pull together. The people necessary to make a great show how intimately involved you get knowing who all the artists are here. They are a joke with absolute many years ago, running an operating Conference Centers. And then under the influence of Internet sand, the new transaction possibilities which starts at 2 cluster various locations, and offered them online to the market. And we're on the first companies offering online

reservation with meeting rooms and all the stuff like that. So, basically, all of a sudden, we found ourselves to be sure if it's best for him. And we took it from there and basically. So at this moment, we are offering all kinds of auspices. Stations, the corporate offices Etc and be offered to the corporate small. Medium-sized companies in the free agents that cover sheets of sheets and meet in sheets. Right. Now, you actually use the term service platform there, right? So, you release originally concert of service platform. Did you think of yourself as it as an experienced platform as

well? Maybe we should have solutely be crew from the thing to an experienced place for a minute. This moment. We consider ourselves even to be a transformative place for him and transformation place for him. I can, I can elaborate on that a little bit later. But I mean, if we saw stand, we should be started with one step, which was really based around the transaction. And now, of course, we do. A lot of other things with a friend section, as a result. So it, it's B, grew into that, over the past 15 years, already Lauren. Andrew. Do you see yourself as experience platforms as

well? Or is it in time? Is like, so New Concept when we first talked to you or is it something that they like, you know, you're all bad experiences. You know, that. Go ahead or I'll let you go. First. This show me everything circles around for sure. I don't know if I would say it's interesting thinking about transformational experience is an item. That is a New Concept to me. And I think it's something that you aspire to if you are doing, especially something related to someone's career, which we are thinking about how you can expand their initial creation of a show to

building an audience building, a following understanding, you know, how to present a live show. And so actually, we do a lot of Education, a lot of support in and around those shows. A friend of mine, the former CEO of hospitality ER cheap Hospitality officer specifically to get them them into that. So and end the end like with you it's not the gas side that the transformation, it's the holiest. It's that it's the it's the band, you know that it is doing the

show or or whatever the artist might be that you can help them be better at what they do. Find a bigger audience that I think it actually. Everyone can be an agents in this system so that we do see on his members who are also becoming hosts and who are also may be playing a show themselves. So there is many hats that you can wear and then that might be of transformation consideration as well as like how you evolve to the platform and take on those different rules about to

do one, teach one. Is that why I'm a player at 1. And then I host once and that all false. It's in your groin, the entire network every time, you're exactly right Andrew, you know, it's funny hearing you guys use the word experience platform, you know, you know, my background is in building SAS platforms and kind of, you know, as we got into this Market opportunity around, you know, how do we take Live Events and talent and audience and turn that into kind of

scalable live media programming for Brands, you know, we were early, the market like most ideas. I have he has an option or two to 20 years. And you know what? We're now seeing Odyssey, you know, with, you know, some of the best that we had made of be able to provide this kind of full service platform to actually let Grand Opry this stuff at scale Decor kind of component of it. Is the experience, right? And so we were TuneIn moments and the tuning moments that we design for Our Brands, you know, what, where it really experts in his knowing, how to drive the

engagement of that tune in moment. So, you know, the experience itself is key, right? It needs to be, you know, the competition for attention is kind of rule the world that we kind of playing and it's like how to weed Garner that attention for our brands, in an authentic, scalable way that they get their business results out of right into the experience. Component of that is courted, everything that we do right into. You know, I think we just with the other kind of the evolution of over doing where we are. Before this all went down. We were using Live Events as a few were designing, these

360 type of programs. And now it's all digital. You know, we are seeing a mass amount of innovation on what a digital life experience is and that's kind of opened up new doors to us of where we're heading and kind of the different types of Software and tools that we're going to build around building this ecosystem. And then are SAS component of the business plans are actually wedding vendors constantly to see who we can pull in as, you know, us opera partner or someone that you can use an extension or from our

platform at any one time. So that's anything, from like having to broadcast dream. Now is Vimeo. That's, you know, what we're integrating next to, you know, like do how do we have a peer-to-peer support for moderate, moderate or so that when you're pulling those elements through, some sort of vetting process that we can look at it and I Echo and you like, it's insane. That Innovation is happening at the popping up every single day that does all the things in this world. Right. So so so Laura how your what Innovation have you seen going on? Then going out there?

I think it's really interesting because, you know, I had here is just an example. I have a theater and see. I think about venues just one part of this market. So, venues right now, a lot of overhead to carry. Oftentimes. There's been no relief in terms of Life government subsidies and Canada. There's been a lot of government relief as well, but for them to survive throughout this pandemic, it's been a problem. And so they have been looking for any way to just use the space, use any production, quality that value that they have. So one thing that I can do, I swear if it's like could

we do a show to with two promoters to two different audiences? But one show that's to Market and I'm seeing the response is already coming up in like know we're already part of our release plan is in the next couple months. Thought about before you're starting to see that. It's like, okay. Well, now that all bets are off and we have no idea what customer Behavior exhausted by doing online experiences. We're just going to pull out all the bells and whistles that we can. But also

this existing old-school industry model. This is how we know it works. So maybe we can make it work and it over. Scotty says I've never been three people from two different locations on to one pad before competing for attention and I will be re-released expensive. Copy this year. We didn't resep Tyler competing for customer time, attention and money. And that's exactly what's what's going on. So you get any case studies. Are you? What's a great case, study to be around that around that Innovation, that, that you think. Yeah, and you know it and I

think that's part of our success over the last two specific gear has been in the business. He's, you know, we had kind of a proven model for how to use live media to prove Altos business belts for Brands and, you know, recently, you know, we've done over 28 episodes just in the last, you know, 60 days and out of that. Anyone who want to highlight which isn't kind of near and dear to what we're doing you. It's been really cool with what's happening in the market, is everything we do in any great social impact. And so we power all the st. Jude's

children hospital by programming. And so, the ideas that were building the different kind of exclusive TuneIn moments for st. Jude. And recently, we did. We don't know the number of episodes, but no one to call out, is for Global giving Tuesday, which is on May. We were able to put together a five-hour program was combination, celebrities music Talent. It was really cool because we got to distribute out a remote production kits that we designed that allow us to completely produce live stream through the cloud and Create TV broadcast quality. That that's kind of a key part of

kind of our, our kind of differentiation. The market is how we have. Produced these premium, everything we do is very premium out on the video side of it. He's going back through your, your location, and then back out again, never specifically. A switcher would have to be, you know, in that lie to you, right. You do typically having six cameras coming into and in venue, we now can take a phone or, you know, we do our kind of 4K. Kisses to Nebo cameras, lighting rig Shepherd, audio encoder with an iPad. We send that out and we're producing shows, remotely with no one in person from

culinary, cooking shows, every single Thursday. When are we due to the st. Jude we sent out, we recorded over 45 different types of talent and you know what, that we were able to take out distribute out. I'm using our methodology of knowing how to do free live and post marketing and then create the this episode. We drove over a million dollars in donations. Over the course of the two weeks surrounding the program is a great example of kind of how powerful live media can be, for driving direct their business results.

And you know, we had over 36 million people watch the Beast, the show. So there's kind of a tremendous scale doing as well. I got over 6 million people Simon simultaneously watching the show, right? Right. Wow, Laura mentioned. The show as the Call Nick unit at what she's doing, used episode with that. I love this turn. Tune TuneIn moment, right at the end. And I don't know. How did that phrase come out? It's funny cuz I know to bite my friend, you know, one of our stage of the buyers JoJo, belliotti. You said it's on our

Advisory board. He was the head of music for Coca-Cola for 8 years and he's like, you know, you know, I guess is being an entrepreneur and founder. Sometimes you make stuff up. But, you know, I think for me, for me and it kind of really just explicitly explained, you know, this again the challenge of the attention economy, right? Everybody is trying to get someone to pay attention for specific moment. We believe every brand in the world is going to need to control and a known these episodic TuneIn moments to actually as a format of advertising against traditional

approaches that it existed in our not working, right? And so, you know, everyone knows a Digital2 eating on the radio and and Last year, took over to meet the marketing spend. But now, as people look at Social and video and, and live, right there. The keeping now is, you know, how do you leverage the talent in the brands are now Publishers, right? Harness, that and be authentic and and drive the golden trying to create. That's exactly what we we try to create and go after it has been successful in doing so.

We'll talk about that another time. So it. So Ronald your Atomic unit seems to be a seat, right? You don't got to show, we got the episode or two did moment. Your yours is a is a seat. So you're a bit different than the others being a B2B platform in essence. So how is it typically used by free agents that you're that generator using that. And And what outcomes you tend it to get with them, LOL. Like I said, we started out this for sure if it's best for him, but then we realized when we

saw more or less enterprising professionals coming up and they were any school work and sheets. That's when the word co-working enters the scene and I wish as well, we have people but those people they have a lot of data and knowledge. And can we use those those Freelancers those coworkers to enhance the experience of our guests were coming in on the meeting room and we should follow those guys have tremendous wealth of expertise. So if we can create an in spontaneous meeting, that's my nephew or you meeting room, you come out just a possibility to miss independent professionals and get

creation experience by itself. The key thing is so you have to know a lot of those people. So just if I wish as well. That is has a fail. You so we offer the co-workers free seats in exchange for their knowledge in there. And that means, Splendid the co-workers in our system at book, a meeting sheets that don't pay buy Dollar Store uterus, but they pay by sharing some of their daughter who they are. But notice you have to share, etcetera, etcetera, at the moments. And now we spdd on Prince of the artificial intelligence development, which is coming even accessible for, for companies

like ours. I mean, five years ago. This was completely eat. Something from science fiction movies due to too much, people were on the premises and who don't know each other, who's, who I ran into each other? At that particular moment at that particular time and Disposal Serendipity, Serendipity, doing the program. Serendipity and injections. We are, we are capable of creating a one-to-one experience for each individual whenever they're on our physical location.

And that's really gives us a tremendous competitor, said something, and it is nothing to do anymore with the initial projection are. So she to give me money, you know, it is working completely different in that respect. So it shows the Serendipity, has there been some great success stories out of it about what has happened when people of meat because of your your your mouth from the system over the past five years, we had three new school systems arise. I mean, there have been people starting to collaborate. So at least 75 books as being published, which phones are

rich and internet works. We have seen the light of what you call start the Flower Days. Tremendous number of companies, you know who are produce and stuff that they collaborated together. As repurposing Network show, The Testing tremendously and reputation in the market that people really want to bring their business. And guess where we generate them because we have to make some money Indian to. And that means we have become very well popular places to host your meeting and instincts like that. They have corporate

coming in, you know, and they start to have meetings on our premises because they want to meet, let's say those new Innovative people of this world being a freelance photographer. So then we started to expand the number of possible locations and we toast corporate. Well, why don't you bring in your premises on your desk or it's a sin to our ecosystem is a location as well. So what does a duck's insurance company say? Open up, they ask for it if they introduce the deceased. Amigo, working muzzle on their ground floor. So now they found find themselves. All of a sudden

people coming in there to work. Babe. I Social Capital by telling her she has to share after only two years working in the same environment. So just people really. Are you match them. They started to meet and talk. Uncle Si have chest, etc. Etc. Show this insurance company issue. Should now go working as an enabler for the whole Innovation process, you know, she'll take that when they said that she likes brochures just in case you sent and then all of a sudden, they started fighting those people to join them in their Innovation processes. So then all of a sudden is only to do with a

meeting facilities. Were Hospitality of the co-working is becoming an enabler, you know, for it for Innovation because he's in a company was using cold where I can do to get in touch with the right people and using action Recruitment. And she didn't you see the school kind of experience is going to be created. Call me from the hospitality industry. Are you start sync you with a c and it's leaving too much, much more right? Is that a time? So you mention it's talk a little bit about this. Making money aspect of it cuz you know, we've known each other for a long time and we've had

discussions about this cuz I'm always big on. You should be charging admission for the experience. She was charging for the I'm a customer stay with you, but you don't do that. So how does it work that we do? I mean if you sharing your publicly it has a failure. So that's a form of payment respects at 6 to those meetings are there and that does free agency start to collaborate with corporates, then ultrasound and they are needing or false space in a meeting space for client presentation, sand whatsoever. And of course will be

offered that as well to den. But then for money for real money as you would say, you know, so that's way to make our money. So basically was supposed happening be creating our own internal markets first are using social capital and then we monetize on the fact that there's a lot of connections and you continued collaboration start a remote. I swing by offering them meeting sheets and an office with insurance companies offering then let's idd access to their Innovation pet and that's their return. I have often said that the experience is the marketing and you got rid of your

entire Salesforce. I no longer fpr stuff, no longer have a reservation department. But what you find an electrician organization that sold down through the network by the networks and we should seal it days, you know, any unique Way by using the software, we facilitate, the whole process. I counted at least three sides to your platform. It seems like a little more complicated than that. Resided. Or is it more? And what are the complications that arise from that giving the show? And then you have any

number of different Hardware? I'm supports to that can be in a host promoter a venue and then yes. What is the audience? The viewer. The one who is consuming the content? So it is three sided. Even though, you know, the kind of artist changes the kind of support changes, if they moved from one one of those sites to the other, like you mentioned before. So how is that? How is the coronavirus is a little act like to talk about affected, affected your business

for the month, to licking our wounds for the week. And then my co-founder who's an artist himself was the guinea pig for the first Zoom show that we did cuz we have remote teams already with you soon quite a bit. And so we just threw a show up ticketed online and it wasn't like live streaming wasn't happening before, but taking those shoes shows was a lot more to charge. Charging admission and not in there for we were really crazy trying to create value around. What that

experience was going to be, could be interactive. You need Q&A with the artist. There's a lot more Community value that's there. And so we doing all in-person stuff to doing online shows. And it's interesting to hear Andrew speak about the, you know, which parts of the journey are doing in-house like having your own production kiss. I think that's really interesting to think about because at every step of the game, your other building at are you relying somebody else to partner with you or the Creator user themselves to do it themselves

and that, you know, those are different friction points that you are there tolerate or you try to adjust the for us. It was, you know, we were we were having people. This is a really small example of just, sort of How It's a balding in the last few months, but online shows people bring their own streaming platform in just reply. Thing that the Lincoln will soon. We discovered, the security was the most important for folks, Zoom bombers being a thing. So, what you get security now, you have a six-year single-use ticket link for that. Zoom concert going

to do the same for the broadcast quality, but those are things that we had to build in on top of an existing service platform that is still feeding the, the live no shirt streaming platform, which maybe someday, we'll create our own streaming platform. I don't really want to do that. I can understand that. Could you could you ever keep adding as much as the screen platforms already do? Even though you got a particular need that they don't have? By Ronald, Andrew,

how is the coronavirus affected your businesses know, most of our locations with me close down for two or three months are opening up now. And in the meantime to keep telling supposed to stay in touch with all the shareholders. So, like most of the organization removed, a lot of stuff online and we, you have we created some some new features within our existing software. And it means, for instance. If you book now, a physical meeting space automatically give you a virtual meeting space as well, within the same reservation system is part of the same process and forget for using the

existing platform, call GHC, which is an open-source platform will be integrated into our software. Do we use the moment also, you know, to to come up with your new Solutions and you wear your features because it is for us, our business to meeting in the street. It's, it's still a guest. You know, how the market will react in the in the next 6 months. Andrew. I mean for us I have a habit of kind of creating ideas that are a little earlier, the market, you know, and this situation of good old pandemic is accelerating what we're up to significantly boost

just on live. She would optional consumer side as well. As you know, I would say 5% of seeing most knew what we were talking about before. The sun went down the other Savvy, they're taking forward. They wanted to understand. Hey, I'm investing, you know, a million dollars at a live event sponsorship. How do I ensure I'm getting our Ally off of that and now suddenly I'd say just a very quick amount of time. I'm looking at a market opportunity, you know, I take 90% of seeing those understand or at least interested in understanding. How can Digital Life Experiences, how can this

new format, you know work for my for my brand? Right? And you know, I think that's been a part of it did Mark in effect for us as well as just you know, there was a What are budgets being applied to live event sponsorship. That they're like, what should we do? You know, and so like a Tito's, vodka, who traditionally sponsors festivals, you know, across the, you know, where we're going to be operating a brand new IP for them to be launching in early August, you know, and those types of situations. I don't think would have been at this big of an acceleration, you know,

and so it's definitely impacts there as well as it's really given us a very strong Clarity on what is SAS part of our business is going to be and what the demand for the tools that were going to be building to compliment one of our lower-level service that we already have been successful Mark with. The end you and went. So and when life Isabel experiences come back, you see like both at once and Rob mentioned you get a virtual meeting with the physical space and that you see, if you are going to do that. Your physical or digital is going to be both, isn't it? Yeah,

I'm going back to the main Market pain point and everyone's competing for attention as a brand, you know, the idea that, you know, you building exclusive content, you know, to your target audience is where you can engage them and get your brand in front of them intelligently anticlea. As we talked about, you know, Live Events, just repeal that storyline, right? They provide more exclusive exclusive story lines that we can create for, you know, the brand. And so yeah, we we don't we don't see it going back with you going forward where, you know, Brandon's going to get

savvier about. Hey, you know, if I'm doing a lot of experience, you know, maybe my Private meeting greet digitally was actually much more cost-effective more valuable to my audience than just doing it to the 50 people that were there, you know, and so do you know, maybe I can use that, you know, private experience as a incentive and tied into a promotional layer on top of my life with and some sponsors. And I was already executing, you kind of rounding out that 360 kind of strategies is where we seats to the market going where. I think that

anything that has a life physical experience, ought to simultaneously broadcast a digital. It 10 times, as many people paying half as much, right? Or maybe, maybe I'll bring it around, head of sales to go on from there. So, all three of you, in addition to the platform Revolution, the great Block office, you're right, the platform providers have to do three things at the poles to silicate and match. They'll pull us about attracting both sides of platformer, all three sides. And then Laura space facilitated screen. The infrastructure for completed

transaction and match, connects the right player on one side of the right. Provider on the other is wild. You did talk about specifically about that matching aspect of people does experience life forms. How do you pull facilitate and and match, whoever wants to go. I need for us in simple. We create amazing digital experiences that pull audiences. We then are able to match brand with talent and where, where, where a brand new, you know, little or as you do impetus like, you know, performers need to perform live. Is it as a core part of the revenue and so, you

know, we've basically a brought in branded content dollars, write a exploding part of advertising directly to talent and we pay them, right? And so that's how we do that and then the matching aspect of bran and talent. Done through a variety of data analysis, in an audience analysis on the right. Fits for understanding and talents audience. And how do you match up the Brand's Target markets? Ronald. Call again. Like I said, we do a lot of facilitation. That means that we offer, for older the locations. We offered them all kinds of knowledge tools.

Like, if you've Management Systems in real-time desk and we try to educate and to bring them up in the higher level and before the first date, that the audience, I to think, like we offer spiritual magazines and essential for any event calendars. So we really need to give them a stage 2 at the pond at this hour facilitating protests in the future, and we have to speed up the process. We have so much data. So at this stage, we can already predict what kind of knowledge? What kind of type of insurance? The network has a need for within the next two or three months, so we can focus on

that and we can even invite letter other experts and Sensibility student to the platform. And that's how we pull in and say, well, you know, there's a need for any sins on this topic, you know, for this in this audience and, and then wants to project this or just the product is finished. Our algorithm is it capable selecting the Right audience for the right events? So that this moment, you know, it's just push the button and the right people are invited to join. Do you send things like that? So the facilitating goes much further to know and then obviously Winifred. Are you shouldn't

or the meeting or do or whatever you have is? Is there? It's always will be from now on a hybrid form of, you know, your physical component in the fridge. I mean, how do you do? How do you pull facilitated match? Because where are an artist for his company? We actually, I've always started with a trying to attract a specific kind of artist. He's basically has enough agency to decide what they want to do on their own but may have a small team in as hopefully on the way out rather than in

the sunset phase of their career and they act as a magnet for great host to one of Great audiences who want to see them and so her ass it's sort of like they are the pole and then when we bring in the audience, we do have, you know, a system of just sort of, like saying, okay. Why did you enjoy this? Where are you interested in hosting a Dodge Journey? If they'd like to go that way as well for the tools that we offer. Like our entire purpose was to just like Airbnb. Did convince people that they indeed can have agency

and a role in show creation. And when they attend a show and it just give them a sense of involvement in in this. So that's that's part of how we were one of our audience has asked is how much of the experiences do the platform versus the actual performance. The Live artist provides and then they get into why you might want to create your own streaming platform as it, but, but it's upstairs a platform itself, add-on to the experiences and only Connection between the end at the end parts, we definitely teach a man. How to fish approach in that way. We don't

control the content. We definitely suggest, you know, what are best practice is to have great content. We have lots of materials out there. Now, to do that, would do webinars another thing, but we don't keep keep and we don't curate what? We're working more towards is, what Ronald was discussing, which is if you like goth klezmer music, we're going to drive you to the gospel Ezra music, but it's not for everyone. So it's allowing the audience to learn the hose to sort of choose their Chair by way of identifying themselves. Then also, you know, we're moving towards your flight behavioral

learning, so that I can say what you said, you liked where can I mix it up a little more. You can program in Serendipity as well, then. Ronald Andrew does deserve the platform itself, add to the experience, or is it purely again to the TuneIn moments are the what happens in the sea? Yeah,. It's the same thing as Laura since we don't curate and stuff like that, so we can be maybe do it. You just do a lot of Education, a lot of women are asking for any suggestions, inspirational stuff and things like that. And then, of course, there's the technology we has to be super up and then has

to be Flawless. And if it's basically you collaborate, it's more like an affair with the whole ecosystem. Everybody participates and is part of the experience and, and some people even in create their own experience, which is fine. It's always takes experience to be experienced by using our ecosystem. The night of. Part of our trajectory. We're we're customizing curating. Exactly. The experience for what we think is going to optimize the value for the brand.

Yeah, and so it's it, you know, when were for GrubHub were specifically selecting young curating talent that meets their target audience is right? And also potentially match, is causes. Our next episode, is all going to be supporting, you know, black lives matter. And so the curation will associate to maximizing the impact that would make sure that caused while also driving the business goals for GrubHub, that they're trying to achieve writing. So that's trying to create a whole new audience awareness. You know, I'm on the town, supporting them. Well also driving orders,

you know, throughout the experience. And so again, it's a very custom and very creative and probably the opposite of, you know, the maturity of where their platforms are. Every one of the questions we got from some some of the audience to see before you is, can you talk more about the boundary between what you ask Partners to add and what you doing? What are the what are the trade-offs are the complexity of what we do. We did create a full service solutions. So we are a pretty interesting kind of team of mist. It's almost like I described it. As you know, we

are working with musical, experts Talent, promoters Town buyers and then also licensing and clearancing filmmakers. And then did Lamarcus marketers and technologists, my brain trying to stick on the back into that. How many people do you have reduction around the around? The globe? Really answer that question. There are times where we haven't even see you already has the talent selected for the brand or something like that and come in and around the rest of it with our our, our capabilities, right? You know, one of the core things that we definitely bring is our analytics piece of

the art technology. We're actually showing the value back the brand, you know, a lot of people still that's going to run. Area the market where people really don't understand the value of live media and still be able to communicate that backs the mark of tea and yeah, you know, so we do pretty much take the full service Branch, but there are moments where we do partnering in certain passages. You describe the structure. Can you talk about how, you know, when to add an additional type of user and how much work? Did that take Chad to add? It's interesting. We're in this

phase right now where the host became kind of obsolete and we dated whether or not we take them out or we just need a model who they're like, what? They're serving their purposes and so we can. Cuz we didn't want to add like host and then moderator, and then it gets too insane. So, what we really wanted to do was think about it, not what their titles are, but what their rules allow their administrative status allows. So that's that's basically what we got came down too. And that's where we came up with them, or

Creator support our audience roll and that determines. The roll is the key thing is, what is the multiple Hatchery doing different things are, what's the key role? And then Ronald question is that you use open source software in your system. Is that ever cause trouble with support and maintenance? And what advice would you give other companies when they're choosing between open source and for-profit software? Well, the key thing is, if we use, in this case, the open source system because everybody was moving in to zoom in stuff in there, the love of privacy issues in the Europe. Our privacy

laws are pretty strict. So it's at the moment. We have no choice. Now look for it isn't for another solution is in that I've nothing against a door or open-source platforms for his shot. But this was at this moment for us to best the best possibility. And since you have more influence than if you use open source, can you integrate? It's in your own software, you can guarantee much more and you have two shows. Did the privacy issues my hours have been by ourselves by yourself. I mean, did the Los you the gdpr regulations, your abs are very strict. So you come for this really, you know, by that

you can get away with another company, you saying, yes, or even made a mistake and I mean, danger stuck. So this was showing you and everybody, you know, all those platforms for Blooming and everybody was moving. In there and then brilliant to figure out how to start doing it. What we did supposed to be still doing is taking it step-by-step, you know, it really Putin and the minimum viable product tested. See how is work. It really integrate, does it do with people say it does make sure that your own technicians are part of the, the open-source a groups who have filed there. And if you

don't have to answer, then please platform can be as good as a solution which in this case since the whole spirituality will shown you in combination with which physical events and stuff like that that we have to be very careful in the light of our gdpr regulations. We have here in Europe. That's why we made this decision at this moment. Ronald. I think we see that there's a lot of commonalities between experience platforms and and others for good services and commodities, but then there's a lot of you. Things that

go on to, because of that experience, being that the unit weather again, if they, it's a show, where there's a TuneIn moment, where there's experience you have as, as a seat, and with all the other life-forms out there, so make sure your time. Thank you. Thank you. Thanks so much, everyone. We learned that. So now we know, and I would invite everyone. Now to grab a coffee, grab lunch, and join us back here promptly at 12:15 or quarter past the hour, very different genre of music, live

music in Englewood from Sprague King. See you soon.

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