I. Executive Summary
MyVideo, headquartered at KL Eco City, Kuala Lumpur is a creative mobile application that allows you create animations, motion graphics, visual effects, logo for personal and commercial use. It's a simple guide based on motion graphic creation which can creates a strong relationship with viewers while designing a polish product. The After Effects templates have a variety of uses, from turnkey solutions when there is a budget or tight deadline, to foundations for something more custom. After Effects are the perfect way to garner attention by amplifying crucial final element of flair and polish to your video editing and motion design projects.
Products and Services
MyVideo will offer a wide variety of AE templates for commercial use and multiple projects. We are in the service of providing our assets to complement or make a video project's production, presentation, company logo creation and others projects smoother.
We offer various of After Effects templates created by professional motion graphics artists from around the world. MyVideo will have you easily customize your projects even without the knowledge of After Effect, simply key in your detail aligned with our preview and wait for your finalize product.
All After Effects templates you download had no expired dates. You may keep using it until the day you need a new customization or effects.
MyVideo will primarily target smartphone savvy people, students, freelancers and entrepreneurs. The demographics of these customers are as follows:
- Aged 15-54
- 39.6% in Marketing/Professional occupations
- High school and college students
MyVideo is uniquely qualified to succeed for the following reasons:
- There is currently e-business app devoted to students, freelancers, and marketers and their specific interests and needs. In addition, we have surveyed freelancers and entrepreneurs of appropriate content and received extremely positive feedback saying that they explicitly want to create their work through our business when launched.
- The management team has a track record of success in the mobile applications and e-business.
- The mobile applications business is a proven business and has succeeded throughout the world.
- Market trends, such as the growth in smartphone users and mobile app downloads prove very favourable to MyVideo.
It was apparent to Lau Pei Ling that an unserved market need existed for the product. Furthermore, after surveying students and entrepreneurs in Malaysia, this theory was proven.
II. Company Overview
Lau Pei Ling has selected a technology director with project management experience in the development of mobile applications.
Since incorporation, the company has achieved the following milestones:
- Developed the company's name, logo and placeholder website located at www.myvideo.com.my
- Determined the list of products to be offered
- Determined equipment and development requirements
- Identified three potential mobile application development companies and solicited proposals from them
Below is MyVideo's initial product list. As you can see all items are classified under the following main categories:
- Animation for web/mobile video - Includes the following categories: Animated Video, Business Video, Corporate Video, Explainers Video, Holiday & event video, Infographic, Portfolio/gallery, Presentation, Promo video, Review video, Slideshow, Social media video, Stock footage video, Video ad, Video editor, Video intro/outro, Wedding video, and YouTube video
- Logo design - Includes the following categories: Lettermark, Wordmark, Pictorial marks, Abstract logo marks, Mascots, The combination mark, and The emblem
MyVideo will be built for iPhone and Android. Its modern, flat design has been optimized for iOS11. Other features include:
- Powerful resting API (Adobe After Effect plugin)
- Full social network capabilities
- Push notifications
- Real-time chat, sharing map location and voice messaging
III. Industry Analysis
MyVideo directly or indirectly competes with all mobile applications. Direct competition will come from companies offering free and paid mobile applications, similar to MyVideo.
Industry Statistics & Trends
The following industry size facts and statistics bode well for MyVideo.
- A google study estimated that the total e-commerce market in Southeast Asis is expected to reach around $88billion by 2025 with the potential to reach up to $120 billion.
Source: asia.nikkei.com, 2017
- According to App Annie, Asia Pacific region had overtaken North and South America as the world's biggest mobile app market in 106.
- Revenue from Asia Pacific account $36.9 billion in 2016.
- According to App Annie, the global app market is projected to expand to $188.9 billion in 2020.
- Researcher sees Asia Pacific region growing at an annual pace of 25%, reaching $85.3 billion that year.
- Nearly half of consumers (45.6%) in Asia Pacific have made a purchase using their smartphone.
- Malaysia have an estimated 45.6% of consumers who made purchase using smartphone
- According to January 2018 data, the global mobile population amounted to 3.7 billion users.
- "Digital Media" market generates US$423m of revenue in 2018. (Feb 2018)
- Smartphone penetration in Malaysia as share of population in 2017 was 62.8%, 2018 is 65.14% and it is estimated to increase to 68.46% in 2022. (Statista, 2018).
- The average number of smartphones apps installed and percentage daily used according to smartphone app user as of July 2016. Smartphone users in Malaysia had an average of 34 mobile apps installed on their smartphones, and 21% used daily.
- Average daily time spent on mobile apps by smartphone users in Southeast Asian countries in July 2016. During the survey period, Malaysia's smartphone user spent an average of 66 minutes every day on mobile apps.
Source: We are social, 2018
- Individuals using mobile phones of any type by country, compared to national populations. Malaysia has 96%
- Mobile users have increased 376 thousand (2%) since January 2017
- Percentage of the adult population that owns smart phones is 88%
- 18% own tablet device.
- 61% believe that new technologies offer more opportunities than risks
- 60% prefer to complete tasks digitally whenever possible.
- Malaysia has 21.61m mobile users.
Source: device atlas
- Asia Pacific will be core to mobile subscriber growth.
- Time spent on mobile still increasing. Digital usage reach 5.7 hours per day in 2017, increase of 0.3 hours from 2016.
- Mobile devices account nearly 50% of online searches for almost every major industry, according to Hitwise.
- Average 34 apps installed in Malaysia.
- Average of 7 apps used daily in Malaysia.
- More than 25% of users in Malaysia use mobile apps.
- 58% of app users across Asia had made in-app purchases.
IV. Customer Analysis
My Video will primarily target smartphone savvy people in two primary age groups: 15-24, 25-54.
The largest share of mobile app industry revenue is generated from consumers between 15 and 29. Consumers in this age group tend to be the most technologically savvy, have the highest smartphone penetration rate and have the greatest comfort purchasing online.
Consumers aged 25 to 54 are estimated to represent 45% of the market. A growing segment, more lifestyle, tools and productivity apps are being developed to cater to this market, as it typically has significantly higher income than consumers age 15 to 24.
V. Competitive Analysis
Direct & Indirect Competitors
The following are expected to be the key competitors for My Video due to their current brand and resources:
EditingCorp is a one stop destination for all your Motion Graphics needs. Get free Adobe After Effects and Film Making how to guides, Tips & Tricks, Project Files/Templates, Element Packages, latest news and updates from the industry. It covers tutorials for after effects (visual effects, Motion Graphics), premiere pro(video editing), Boujou (3D motion tracking), Adobe audition (audio editing), Mocha (motion tracking).
Magisto Video Editor & Maker is the best video editor for people on the move and for those who don't have formal video editing skills. No video clips on your phone? No problem. Magisto smart video maker can help you create a slideshow or video collage that feels like a true video using only photos. It has over 90 million users. semi-automatic video editing platform. combines video clips, photos, music, text, video effects and video filters to help customers to create a video story / short movie.
Lottie is an animation library built by Airbnb that renders Adobe After Effects animations in real time on Android, iOS and React Native. This is a sample app that includes several animations as well as different ways Lottie can be used in a real app. It has flexible after effects features: support solids, shape layers, masks, alpha mattes, trim paths, and dash patterns that able to manipulate animation the way customer likes: can go forward, backward, can program animation to respond to any interaction.
My Video enjoys several advantages over its competitors. These advantages include:
- Niche Market Focus: By serving the niche market of foodies, [Company Name] will be able to focus its products and content on the needs of these customers more so than larger, entrenched competitors.
- Relationships: [Founder's Name] and the technology director know many of the best programmers and mobile application development companies. As such, it will be relatively easy for us to build the app's functionality.
VI. Marketing Plan
The Marketing Plan describes the type of brand MyVideo seeks to create and the Company's planned promotions and pricing strategies.
The MyVideo Brand
The MyVideo brand will focus on the Company's unique value proposition:
- Offering a wide variety of After Effect templates and logo design for app users
- Making the experience of creating video project's production, presentation, company logo creation and others projects fun and easy
- Providing excellent customer service, with dedicated customer service representatives
The Company's promotions strategy to reach the target market of students, freelancers and entrepreneurs includes:
We will contact technology magazines, tech sections of newspapers, and television stations and send them a press release describing the opening and unique value proposition of MyVideo.
Search Engine Optimization
The Company will develop its website in such a manner as to direct as much traffic from search engines as possible. The original website designer will use knowledge of search engine optimization to orient the website's content towards this end and begin a program of link exchange to move up the search engine rankings (particularly Google). Ongoing search engine optimization of this type will be executed by an experienced SEO firm contracted on a monthly basis.
Pay-Per Click Advertising
Additionally, MyVideo will use highly-focused, specific keywords to draw traffic to its website through text pay-per click advertising on Google AdWords and banner ads on other appropriate websites (brokered by Google or another ad placement company). Advertisements will be targeted at potential clients who will find our content-rich site to be a valid resource and applicable to their interests, rather than an interruption or distraction.
MyVideo will publish a monthly email newsletter to tell customers about trends in food and offer other articles and columns of interest to customers. Email addresses will be gathered from users who opt-in when using the website and the email newsletters will support the brand of the site as an expert in food-related recommendations. In addition, emails presenting exciting new offers or products may be sent as often as once a week to customers who have opted-in to keep them informed of the latest information on the website.
My Video will initially advertise in tech magazines and newspaper tech sections in order to gain awareness.
My Video pricing will be appropriate for the marketplace. That is, they will be mostly free or priced similar to other mobile applications with similar offerings.
VII. Operations Plan
In order to execute on My Video's business model, the Company needs to perform many functions including the following:
- General &administrative functions including legal, marketing, bookkeeping, etc.
- Sourcing suppliers of content and managing supplier relations
- Hiring and training staff
Mobile Application Functions
- Developing additional application features
- Application maintenance, updates, and bug-fixing
- Ongoing search engine optimization
- Customer service
- Writing and producing content for the application
MyVideo expects to achieve the following milestones in the following 12 months:
30 March 2018 Finalize mobile application development contract
30 April 2018 Complete prototype design of mobile application
3 May 2018 Hire and train initial staff
31 May 2018 Launch My Video mobile application
30 March 2019 Reach break-even
VIII. Management Team
Management Team Members
My Video is led by Lau Pei Ling who has been in the entertainment business for 20 years. While Lau Pei Ling has never run a mobile application herself, she had previously worked at a marketing and public relations agency that specializes in the entertainment industry, namely with producers, directors, musicians, and a few production houses. As such she has an in-depth knowledge of the business as well as the needs of creative services, including the creative production side and the marketing management side (e.g., staffing, marketing, etc.). She acknowledges the importance of strategic marketing in an organization and branding in marketing.
Lau Pei Ling graduated from the University of Greenwich where she majored in Business Administration.
Chief technology officer, Lee Jun Kee Ivan, has years of web development management experience. He received a Bachelor Degree in Accounting from Tunku Abdul Rahman University College.
In order to launch the store, we need to hire the following personnel:
- Sourcing Assistants (1 - responsible for finding content and making deals with content providers)
- Customer Service Representatives (1- responsible for fielding emails and calls from customers about potential, current, and past orders).
- Part-Time Bookkeeper (1 - will manage accounts payable, create statements, and execute other administrative functions)
- After Effect Specialist (1 - to be hired in the first year of operation, will work under the technology director implementing new After Effect templates and additional features in the website. Before this time, creative services will be on a contract basis).
IX. Financial Plan
Revenue and Cost Drivers
MyVideo's revenues will come from the sale of motion graphic and logo development fee, customization fee and pay-per-download .
The major costs for the company will be cost of goods sold (license fees and royalties to suppliers, internet connection fees, app monthly maintenance fees, Adobe After Effect software fees, app server fees, and etc.) and salaries of the staff. In the initial years, the company's marketing spend will be high, as it establishes itself in the market.
Capital Requirements and Use of Funds
MyVideo is seeking a total funding of RM300,000 to launch its business. The capital will be used for include further app development, marketing collateral, website development and working capital.
...(download the rest of the essay above)