Company: RMZ Development LLC
Product: MyStream
Website: www.mystreamapp.com
Founder: Richard Zelson
Founded: 2010
By Richard Zelson, founder and CEO
Product Overview
MyStream is a new device-to-device(s) music streaming app that eliminates the cumbersome practice of sharing headphones or using a splitter in order to enjoy listening to music with friends. Using MyStream, music fans can wirelessly share their favorite songs with any other app user(s) within range.
MyStream users simply browse their library and select the songs or podcasts that they want to share with others via Bluetooth or Wi-Fi. The interface is simply designed with minimal buttons and tabs. Utilizing our Live Streaming technology, users can listen to and simultaneously stream full songs synchronously with other users. Utilizing MySound asynchronous technology, users can browse through another user’s MyPlaylist, select a song, and listen to a 90-second clip of that song. A “Buy” button appears on a listener’s device next to each song or podcast that is played for them. This button creates a direct and search-free link to the iTunes store to enable instant music purchases.
Bluetooth connectivity means the app can be enjoyed in any setting, such as indoors, on the subway, or on a plane, where Wi-Fi is not accessible. Functioning as an advanced wireless headphone splitter, MyStream is design to provide users with the ability to “Share Your Music, Not Your Headphones”.
Founder’s Story
The original idea came to me while I was in college traveling abroad with a group of friends. My friend would often share his headphones so I could listen to his favorite new music. I enjoyed this sharing, but I would quickly return to my limited music collection as soon as he needed his headphones. On the train we would play music out of portable speakers, which we all enjoyed, but that was also limited. I thought, if wireless headphones, splitters and portable speakers all existed, why can’t I simply and wirelessly listen to my friend’s music when we were together. Then I thought about the “Buy Now” feature, which would encourage people to immediately buy new music, so you just aren’t exposing people to new music but also benefiting artists. Once the iPhone came out and gained popularity, I thought it was the right time to go out and build this music sharing functionality that I called MyStream.
Marketing/Promotion Strategy
I think peoples’ love for music is what will spread awareness about MyStream. Not because it is just the newest trendy app, but because if they want to play a song for their friend on the bus or train they can just do it. They no longer have to share a pair of headphones. They simply ask their friend to download MyStream, and they have instant access to each other’s catalog.
We will also promote our app with online and offline marketing campaigns, using social media sites, magazines, app rating sites, our functionality viral video, and some online advertising. We will also create a grassroots campaign around local “silent disco” parties, create branded merchandise and will simply talk to anyone and everyone that will listen. We have created an app functionality that millions of people can enjoy, and now our goal is to break through the mess of other apps in the marketplace and get people to realize the real benefits of downloading MyStream.
Our MyStream video can be seen at: http://video.mystreamapp.com
How We Differentiate Ourselves from the Competition
There are no other apps out there that have the same music-sharing capabilities as MyStream. No other app can enable groups of people to synchronously listen to live-playing audio from any device in the group via both Bluetooth and Wi-Fi. We also have a rich and simplistic interface that is pushing adoption faster than competitive apps. We have a very talented and experienced technology team and will stay ahead of the continually changing landscape of music apps and maintain our position at the forefront of P2P streaming audio.
Business Model
There are three key revenue streams in our current business model. The first is charging $2.99 for the app, which we believe is a very reasonable cost for unlimited use of the application. The second is through iAds generated within the application. The third is from a commission that we receive from iTunes on songs purchased by users via our Buy Now button.
Key management has explored other uses for this technology. However, those additional applications will be disclosed at a later date.
Current Needs
As we continue to expand our features and services, we will continue to explore an investment strategy to sustain growth in order to maximize all of the different verticals that our existing technology platform can already support. We will use investment to aggressively expand operations and further develop the technology in support of other devices and other commercial markets, which will create strategic growth and new application-based business opportunities.
MyStream – www.mystreamapp.com
