What's the big idea?
Groovebox Studios is a new kind of music company based in Detroit that is a platform for independent artists to succeed in today’s music business. Our high-end audio and video content is 100% crowd funded by fans thru Kickstarter. Our artists pay us NOTHING! In fact, our Kickstarter campaigns are so successful, most artists end up making money with us. Our “One Band, One Room, One Take” model has become one of the hottest experiences in independent music. Fan’s travel from across the country to Detroit to be part of the creative process with their favorite artists at Groovebox Studios.
Describe the nearest player in your field.
Our closest comparable is The “Miraverse” at Manifold Recording Studio located in Chappell Hill NC, a top-end studio that is also using Kickstarter to fund projects they call “Co-Producing”. While we’ve never communicated, they recently blogged about GBS describing how our model has inspired them.
How are you different from that player?
GBS has a strict set of production rules that all artists follow. These rules provide a cohesive vision, purpose and community for our “One Take” sessions and allow us to efficiently manage our costs and time. The Miraverse has no such production structure . They approach each project differently.
How does this idea scale into a big business?
Our biggest growth will be franchising into other markets. A GBS Chicago pilot will be open this June. In Detroit, we can increase our number of monthly sessions by 50% without adding much cost. In addition, we’re partnering in live events and producing Kickstarter campaigns for non-music projects.
Why are you the one to run with this idea?
Our biggest asset is our vision along with our proven ability to execute and bring our ideas to life. We’ve built a dedicated and diverse team of individuals with the experience, talent and resourcefulness to recognize a gap in a market and then create and refine a new model to fill that gap.
What is a $5,000 experiment you can do to move your idea forward?
We’ll use the funds to bring two team members up to full time hours. This will allow us to run GBS Detroit at full capacity for one quarter and gives us flexibility to open our Chicago pilot. We’re confident we’ll show enough revenue to keep Detroit at 100% and continue development of GBS Chicago.