Robert A. Rusbuldt Jr. 1410 Greycourt Ave Richmond, VA 23227 703.819.4554 robertrusbuldt@gmail.

com

Tavish T. Faggart 301 W. Cary St, Room 4003B Richmond, VA 23220 757.254.8327 tavish.timothy@gmail.com

Table Of Contents
Company 1. Mantra 2. Mission Statement Opportunity 1. Artist trends 2. Problems for artists 3. Solution Operations 1. Artist Cycle 2. Network/Database building 3. Licensing Program 4. Practice Space Rental 5. Studio 6. Affiliate Program 7. Events 8. Alleviating the Pain Industry Analysis 1. Music Industry 2. Distribution Model 3. Independent Artists 4. Production 5. Licensing 6. Competition a.) Studios b.) PR c.) Rental Spaces Market 1. Customer - bands a.) Target Market b.) Breakdown of artist revenue 2. Customer - fans 3. B2B (band to band) 4. Market Size 5. Targeted Market Share 6. Marketing & Promotion Strategy 7. Defining Success for the Artist 8. Artist Retention

Financials 1. Capital Requirements 2. Startup Costs 3. Revenues a.) Artist Projects b.) Licensing c.) Practice Space Rental d.) Studio Rental e.) Events 4. Expenses a.) Operating b.) Payroll c.) Capital Expenditures Timeline 1. 2. 3. 4.

1.Nascence Beta I, II, III Emergence: Year 4 Scalability & Growth a.) Expand b.) Spread c.) Connect 5. Invest Today a.) ROI b.) Payback Period

Appendices 1. Financial Statements 2. About the Team 3. Management Resumes 4. Advisors & Mentors i. Dr. Matthew Rutherford ii. Brian Monbouquette iii. Bryan Russell iv. Christopher Nary v. Juan Ponciano 5. Works Cited

COMPANY
I. Mantra A filter for emerging artists II. Vision Statement Bolt Audio is focused on developing music artists and bands as they transition from their local scene to the regional and national arena. In addition to qualities of talent and persistence, we believe our services will aid in the success for these nascent performers. Every decision, transaction, and idea offered by Bolt Audio is solely in the best interest of the artist and how to better their situation. DIY efforts will be taught to all artists who engage in our process so they can continue self-development long after their campaign with Bolt Audio ends.

OPPORTUNITY
I. Artist trends Artists have increasingly taken advantage of the digital age to produce and release cheap music at an increased rate. No longer do artists need a large budget to record an album, an expensive radio campaign, or distribution through big-box retailers in order to reach fans. The accessibility of social media, cheap recording equipment and the increasingly popular Do-It-Yourself (DIY) mindset has paved the way for independent artists across the world. While the price of recording has drastically dropped over the past few decades due to digital innovation, the overall price of media has experienced similar effects. Most musicians realize that success, as a band, requires more than recording music. Photographs for press and promotion can be shot at low cost and uploaded online instantly. Likewise, video can be filmed without the cost of film development and hosted on any of the artists social websites. All of this provides entertainment to listeners and the entire fan base, making it easier than ever for bands to connect with their fans. II. Problems for artists Generally, there is no one correct way to be a successful artist in todays music industry. Regardless of the approach, every artist needs certain resources. Whether that is money, professional contacts, management, production, or equipment throughout the artists career, they will need the help of others in order to reach their next milestone. Although the low-prices of basic recording equipment and the growing number of free social network platforms have made it more accessible for new artists to 5

spread their music, it is easy to miscalculate the size of the potential fan base, misuse the digital tools at hand, or appear unprofessional and second-rate. Despite the need for these resources, many artists are unable to access them or stubbornly refuse them. The inability to access the people that artists need are usually due to a lack of networking, a lack of cash, or a combination of the two. Artists also sometimes feel that they can handle some tasks themselves internally and will opt for a DIY approach rather than seeking out the help of professionals. When artists have the capital in place to invest in their music, it usually means seeking the services of many different boutique style companies at marked up prices. Not only can this lead to a very expensive campaign, but it also creates a difficult network of people to manage. The more people involved in daily operations, the greater the likelihood of a principle-agent problem. The band has to navigate the requirements and deadlines of different boutiques causing delays in deliverables and an overall breakdown of communication and general direction. III. Solution Bolt Audio serves as a filter for emerging artists, by effectively developing independent artists and assessing their target market through a consulting project. The four phases of the project include Plan, Style, Create, and Distribute. Bolt seeks to close the gap between the artist and their fans by defining clear goals and positioning the artist online and offline. By offering all of these services in-house and through our Affiliate Program, Bolt Audio can offer a valuable experience.

OPERATIONS
Artist Cycle The backbone to Bolts everyday operations is our direct working relationship with our artists. Our goal is to be a one-stop shop that fulfills the needs of each artist while working with them to make sure our program is directly catered to them. Even though we realize each artist has different needs, goals, and ideas, we found there are four major parts to every artist trying to transition from local to the national stage. Plan The planning phase starts before any action is taken with our artists. During this time we will work with the artist to establish realistically attainable goals, and what they hope to achieve throughout the entire process. Bolt also wants to put together a way for the artist to grow and find avenues that allow the artist to develop even after After identifying the goals of the artist, we will work together to come up with the best way to accomplish them. Identifying a specific niche target market that will directly

connect with the band is absolutely key when first starting out for new artists. Not only identifying that niche, but also the expandable market and how to reach that group as well. Naming the target market will also help us determine how to position the band for the next three phases. Timing and scheduling will be another focal point during the planning period. Solidifying a well thought out release schedule will help ensure the consistent engagement between artist and fans. By planning when to post on social media, when to release songs, when to schedule interviews etc, will all guarantee the biggest potential audience will be reached. Scheduling is not only determines when a task is completed, but also how it will be executed. A traditional release usually entails promoting a single with a significant amount of lead-time, then releasing a full album on a specific date at a specific price point. Now with the consumption model for music changing, its important to understand how your target market wants to acquire new music. It might be a name your own price model, an all free release, or just a sporadic release of singles rather than an entire album at once. We realize that all artists needs, requirements, goals will be different. Understanding all of this can significantly cut down on the time to connect with fans and put artists in a position to succeed. This is why Bolt will spend as much time as it takes working with the artist to put together the best plan possible. Style Like any business, it is important to create an easily identifiable brand. A wellestablished brand makes it simple for a listener to connect with an artist if its relatable. Staying on message and on brand can also lead to consistency and sets a certain level of expectations for old and potentially new fans alike. During the style phase, Bolt will work directly with our artists to make sure that all things being created and distributed are styled in a congruent manner. This will initially start in pre-production1 by making sure the musical style fits the artists wants as well as ensuring there is a market for that type of music. Styling will continue throughout all phases including photos, social media and website development, music video shoots, and all other created content. Bolt also believes that styling should extend beyond all content that is created and transcend into everyday life. The more a band eats, breathes and lives their brand the more believable it is to their fans and the easier it becomes to apply that to all decisions
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Pre-production - The process between songwriters and their producer ensuring all elements of a song are prepared prior to recording. Often times this can include tweaks to chord progressions, percussion, melodies and sometimes full on rewrites. The goal is to write a fully cohesive song that has a clear direction and captivates the listener.

made. In an industry that can be very fickle and quickly turn on an artist, its imperative that artists stay true to themselves and portray an organic, natural feel. Create The create phase is packed full of action steps and is arguably the most enjoyable part for our artists. During this time all content necessary to promote our artists will be created. Songs will be recorded, photos will be taken, videos will be shot, websites will be built, merchandise will be printed, logos will be designed and press kits will be assembled. All of the previously mentioned steps will be offered in house, with the exception of merchandise production (i.e. t-shirt printing, sticker pressing). However since this is creative content and not all people have the same creative mind, we will have an affiliate program established of on-call artists who we can pair with our bands to find the best fit. With multiple steps taking place simultaneously it can be simple to cut corners and not put in the necessary effort into each step. In order to make sure this doesnt happen, Bolt will instill a certain level of quality control. The level will vary between project depending on budget and needs of the artist, but every decision made will be with the intention of not looking like a local band. After all of the necessary content is created, Bolt will assemble a full press kit both physically for mailing and electronically for email. This is a crucial part of promotion and will be used consistently throughout the distribute phase. Distribute For musicians, distribution has traditionally meant trying to sell your album in as many stores as possible. However, current distribution models have completely changed and have anything but a status quo approach. Bolt Audio believes in distributing not just a record, but also a complete brand. That means engage as many listeners with more than just recorded music, but also through videos, photos, licensing, interviews, PR and any other avenue that will connect with their target market. Rather than focusing on recording music with the intention of generating revenue, its far more beneficial for artists to look at music as a marketing expense and use that tool to reach as many new listeners and potential fans. Bolt will capitalize by reaching fans that might not necessarily listen to an artist otherwise by offering free incentives such as downloads, giveaways and contests. We will try to grow organic fans through social media and get our artists to directly engage their fans, rather than paying for likes or followers to impress outside industry people. In order to capture as many interviews, reviews, features and write ups, Bolt Audio will engage in an aggressive PR campaign reaching out to as many key media outlets. After

identifying our artists target market and assembling their press kit we target specific companies and individuals that can relate with our artists fan base. Well-assembled press kits will have a significant impact on whether a feature can be secured, however pre-existing working relationships are also a necessity. In order to establish this relationship, Bolt will continue to internal networking efforts and keep track of those contacts through database and network building. Network and Database Building Keeping an accurate and updated database is a vital part of Bolt Audios operations. As with any industry, networking is key to staying ahead of the competition and providing a quality service to your clients. The music industry is volatile and quickly changing, whether its the business professionals entering and leaving, or the artists forming new projects or dissolving already established projects, it is tough to stay up to date. A well maintained database would alleviate the stress and sort out the confusion immediately allowing for a more efficient workflow. This will also be a reference point for each project manager to best serve the needs of their active client(s). Licensing Program Bolt Audio will offer our artists the chance to enroll in our licensing program. This will benefit the artist by potentially increasing their national exposure through television, commercials, movies, web-based videos etc. Not only does this help increase their exposure, its also great PR and can be used in a strategic press kit in order to procure other shows, interviews, write ups, reviews etc. In order for this program to be successful Bolt will need to spend ample time forging relationships and making new connections within the music community. We plan on directly engaging program directors at all major network stations, cable stations, as well as independent film directors, and major online video channels. This might require face-to-face meetings and potential travel time. Despite the increased costs of networking, Bolt sees this portion of our business as extremely lucrative and a sound investment. While networking is important, it is also necessary to have songs that are desired by those people were reaching out to. Having a strong and vast library of songs will be imperative prior to networking. Many program directors are extremely busy and are consistently approached with opportunities to license new songs. In order to ensure our library is desirable, Bolt will work with talented artists who we feel have the ability to perform at a high level. Additionally, this program will launched until year two, allowing our catalogue to have a chance to grow and be even more desirable. Practice Space Rental No matter how talented, or how long an artist has been playing, it is absolutely necessary to find time to practice. Having a well rehearsed live show that flows well

and keeps the listener entertained from beginning to end is absolutely necessary. Bolt will offer 24-hour access to our rental spaces for our artist to practice, write or rehearse at their own leisure to improve on their craft. Not only are practice spaces beneficial to the artists renting from us, it will also help us be able to network with other bands in the region to potentially add to our artist program. With the chance to reach new artists as well as the minimal effort required to maintain the practice facility, this offering will be a win-win for both our artists and Bolt Audio. Studio Operating a full service-recording studio is an integral part of our daily operations. Considering any artists who wish to promote themselves need music to do so, this will be one of the most sought after portions of our business. Although we anticipate most artists who are recording with us will be part of our four-step program, this is not a necessity. Maintaining a well-organized schedule will be necessary to ensure the best use of our time with our clients and our internal use of the studio. A full service studio includes aspects of recording and engineering, but also producing. From a musical standpoint, production is the process of consulting with artists during the songwriting process. Production is an intense process for both the producer and writers involved as it can be painstakingly detailed and full of change. However, despite the potential for high tensions, the outcome tends to be better than the originally written songs and is always performed with the artists best interests in mind. Our studio will certainly focus on our artists as our top priority, but we can also help other businesses or clients requiring the services of audio production. We would be able to help with voice-over work for commercials/television, mastering services 2, postproduction3, mix down or any other audio based need. Robert Rusbuldt will run the studio at Bolt Audio as the full-time in house producer. Robert has been recording, producing, and engineering for over three years and is also a certified operator of Pro Tools 10 by Avid.

Mastering - the process of preparing and transferring recorded audio from a source containing the final mix to a data storage device. This often involves balancing audio decibel levels between multiple songs so they have a uniform sound for an album release 3 Post-production - The process occurring in video and film work after the actual end of shooting and/or recording of the completed work. When pertaining to audio, this usually means leveling of audio, overdubs in voice work, the addition of sound effects and any other enhancement to the audio.

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Affiliate Program Bolt Audio plans to partner with varying young, talented, emerging local and regional photographers, designers, videographers and stylists to work with our artists. We want to offer our artists a variety of options to match them with someone they feel is a good fit with their style and direction. Not only will this allow our artists multiple options to find their creative match, but it also helps Bolts operation strategy too. By working with other creative people in the area we are indirectly promoting their name, benefiting both Bolt and those in our affiliate program. This also serves as part of our mission to not only connect our bands to fans, but also connect artists to the community. Events Bolt Audio will strive to be a major player to the local and regional areas surrounding each location. By hosting music, art, and other entertainment events, we can increase our brand recognition, create a more connected music scene, and show the importance of local support and strong grassroots efforts. Like the affiliate program, this is another chance for Bolt to directly engage the local community and bring the entire creative network together not just through music, but all aspects of art. Alleviating the Pain Although most independent artists are very passionate about their musical projects, there are wide arrays of pain points that can be attributed to this line of work. The most common pain point for artists is limited financial means. Almost every single expense attributed to the production of music, touring, branding, promotion etc. is passed down to the artist. When everything is all said and done, artists can look at paying upwards of $11,000 per EP release. However, this number does not include the percentages that are taken out of revenue for management and touring if the shows were booked through an agency. These percentages are negotiable; however industry standard is usually 15% and 10% respectively. In order to alleviate this financial burden to our artists, Bolt will bundle all of our services together to offer a reduced price. Bundled services will drastically cut the overall cost for an album release and also ensure a level of quality control. Even though bundled pricing is a good start for those with financial woes, Bolt feels we can directly help our artists recoup some of their investment. Each artist that works with us will be invited to play an artist showcase we will host at local venues. These events will result in a guaranteed $500 payout to our artists, with the possibility of more earnings depending on ticket sales, drink sales, club capacity and other contributing factors. The licensing division of Bolt will also have a huge impact on the financial burdens for artists. Licensing terms are very negotiable between the licensor holder and music directors, but we feel that we can secure an average of $500 per license granted. 50% of each license granted will go directly to our artists. Analyzing each

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bands fan base and assets will also be used to determine whether or not crowd funding could be utilize to help our artists pay for some, if not all, of their expenses. Websites like Kickstarter.com and Indiegogo.com have proved to be extremely effective for artists when used correctly. Not only are financial worries a concern for new and independent artists, but another barrier of entry is a lack of connections and a small social network. It is no secret the music industry can be exclusive and difficult to make new contacts. However, Bolt Audio will have an extensive network from the beginning of launch will be a focal point in all hiring decisions. The bigger Bolts professional network, the more benefits we can pass down to our artists. We will consistently update our database and expand our reach within niche pockets of the industry. The majority of artists have a difficult time balancing both the creative process and the managerial side of their business. Many times artists will spend a majority of their budget on the recording of an album only to have a poor release, stifling the records potential. By having a personal client manager at Bolt Audio, we can ensure that the artist can focus on what they do best, creating music, while knowing their business decision making is being handled properly. Not only will this open up more time for the artist to spend elsewhere on their business, but it also ensures that the entire album process gets done correctly the first time, reducing potential future costs. Another financial gain for our clients is far more intangible; it is reputation. By partnering with Bolt Audio, our clients can receive better paying gigs, future partnerships, and higher quality exposure. Bolt Audio provides clients with a close knit source of legitimacy. Our grassroots ethic allows Bolt to offer the time and attention needed to connect artists to venues, businesses, and fans that reflect the tastes and values of all involved parties. Through focusing on the niche market, we can help our clients leverage their talents in an efficient manner. Finally, opportunity costs represent a substantial pain point for our clients. Many of our clients are living the dreams of their youth and sacrifice a fair amount of their time and resources towards bringing their goals to fruition. Prior to engaging with Bolt, a section of our clients struggle to balance the duties that hired hands fulfill for major label artists. Another segment of our clients may test the do-it-yourself route and see poor results. Comparatively, another group may find researching and collaborating with several niche shops mentally draining. At Bolt, we desire to alleviate this pain by offering a la carte services through one boutique firm. We continually monitor data and test what works for some clients but may not work for others. We believe our 1:1 approach to the artist is a competitive advantage for ourselves and a major gain for artists who choose to work with us.

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INDUSTRY ANALYSIS
I. Music Industry Conflicting forces exist throughout the industry. Digital sales triumph physical albums, singles overtake full-length albums and online streaming services replace traditional purchases, each altering the existing industry model. Competition within this industry is two-fold: internal and external. Internal competition takes shape in existing studios with established connections. Developing a network proves to be a strong barrier to entry from these competitors External competition results from innovations in technology that democratize the recording process. As a result, more musicians have access to hardware and software through outlets such as Craigslist, eBay, and peer-to-peer downloading. While recording is easier than before, the supply of music also increases, decreasing the likelihood that fans will listen to recordings based on audio content alone. II. Distribution Model Historically, the distribution of music was contingent on the assistance of a major record label. After the introduction of sites like Napster, which (illegally) offered peer-topeer sharing of digital music, fans were able to access music unavailable on the radio and many independent artists had access to an audience well beyond their hometown. Following the A&M Records, Inc. v. Napster, Inc. case, the resurgence of this type of sharing is visible in social streaming sites such as Spotify, Soundcloud, and YouTube. This shift in the music industry is evident in Billboard Charts introduction of Social and Streaming lists4 (http://mashable.com/2012/10/12/billboard-charts-digital-streamingchanges). While this digital landscape is changing, the business models of major labels remain dependent on loans and recouping loans through album and performance sales. Up-and-coming artists and bands receive advances prior to the recording process and require mass album and ticket sales to recoup these costs before any profits are possible5 (http://people.virginia.edu/~jrw3k/mediamatters/readings/cult_crit/Albini_The.Problem.W ith.Music.pdf) Major labels mitigate risk by signing artists and molding their existing sound into a widely accepted, mainstream sound. In the case of My Favorite Highway, a Virginia band formerly of Virgin Records, their core fan base loss interest as a result of their labels directions and the bands album sales greatly suffered. Paired with the environmental shift away physical albums in favor of digital releases, the major label route is at best, beneficial through identification and legitimacy. This degree of recognition helps artists acquire gigs more easily but ultimately only works in the favor of bands seeking to reach the widest number of fans, rather than develop deep relationships with a core few. My Favorite Highways relationship with Virgin reflects a greater trend within the industry. Songs once revered as special experiences have dwindled to commodities bought and sold by major labels. As a result, fans preferences shift towards a holistic encounter with artists as more songs by more artists find their way on their iPod.

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III. Independent Artists The total number of independent artists is widely disputed, as there is no formal data gathered by the music industry, government or any private firm. However one of the best guesses of independent artists worldwide is around 2.5 million, which is the number of artist accounts signed up with independent music website, Reverbnation.com. Of those 2.5 million accounts, over 500,000 are based within the United States.6 (http://www.reverbnation.com/band-promotion) As discussed before in the opportunity section, lowered production rates have made it easier for artists to record and release their music completely independently. In fact, more artists are releasing more music now than at any other point in history. 7 (http://www.techdirt.com/articles/20120129/17272817580/sky-is-rising-entertainmentindustry-is-large-growing-not-shrinking.shtml) While the cheaper rates make it easier for artists in the short run, it also poses a threat of increased competition. With so many independent artists competing for the admiration of potential fans, its been increasingly more difficult for artists to filter through the noise and stand out against the crowd. IV. Production In the sound recording industry (NAICS: 512240) there has been an increase of competition within the past six years. Since 2007, the entire industry has shrunk by a total of 4.1% and is expected to contract at an estimated 1.9% annually 8 (http://www.ibisworld.com/industry/default.aspx?indid=1254). Although the traceable revenue within the recording industry has decreased the total number of album releases has increased in recent years. This data suggests that artists are taking advantage of the cheap and easily accessible home recording equipment available and opting for a cheap alternative to expensive studios. V. Licensing Over the last five years the total revenue for music licensing nationwide has dropped by 1.1% 9 (http://www.ibisworld.com/industry/default.aspx?indid=1253). However, this is still a 4 billion dollar industry and music is being licensed at all time highs. The reason for the smaller revenue is that many music directors are adapting to changes within the music industry and reaching out to smaller companies to license more emerging artists rather than paying the bigger licensing fees for top mainstream artists. This recent trend will work in Bolt Audios favor as we are directly working with independent artists. Furthermore, despite recent contraction, the music publishing industry is expected to grow over the next five years as it fully adapts to the changes around them.

VI. Competition While one-stop shops exist in other industries, (for example, HubSpot the one-stop shop for small business marketing services) Bolt will face many different smaller direct competitors for certain specified aspects of the business. Studio

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Despite the decline industry wide, we are confident this will have a minimal impact on our operations. Once potential artists are able to have compare samples of home studio recordings versus Bolt Audio samples, we believe the better quality songs will be highly in our favor. Although the home recording route would most likely be cheaper, it is not a substitute when it comes to quality. Not only will home studios be a source of competition, but also mid-level and high-end recording studios. Within the Richmond area we have found six different recording studios that fit the previous description: In Your Ear Full Circle 9WG Sound Of Music Planet Red Pedro Aida Of those six studios, none offer any outside services other than audio production. We plan on using our additional services as a selling point when talking to potential new clients to combat the competitive business within the area. Public Relations Promotions and advertising companies alike have seen a steady increase in new entrants to the market lately. More artists and musicians are taking advantage of social media and other digital aspects because of the ease of use and the potential reachable audience. Despite the general increase of competitors, this will have minimal effect on Bolt, as we will be catering to a specific niche audience. In terms of public relations, our direct competition includes high-end boutique music PR groups such as Big Picture Media (http://www.bigpicturemediaonline.com). Companies that specialize in this type of music promotion have a vast network of contacts. However, their price of $2000 per month for an Internet based promotion campaign may be out of the reach financially for Bolt Audio clients. Secondly, low-end DIY PR companies will try to reach out to our artists, but many of those types of companies have minimal results for their clients and have minimal impact on a bands exposure. Bolt is confident that we will retain a majority of our clients in spite of competitive PR based companies by offering a one-stop shop.

Rental Space The rental space at Bolt Audio is there for artists to continue with their writing, rehearsals and practices. There are all sorts of options for artists to find locations to practice, whether it is a home, a storage unit, or an actual location fitted for bands. However, despite the range of options for the artist, theres always a need for clean, affordable locations in an urban setting. Most homes arent a viable option for musicians because of city noise ordinances. Storage units are also an option, however theyre uncomfortable, usually not temperature controlled, and horrible for sound quality. Bolt has looked at the options for rehearsal spaces in the Richmond area, and feels we

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are very competitive and will have no trouble filling up all of our spaces within the first month. Sound of Music (www.soundofmusicrva.com) offers rehearsal spots starting at $350 and up per month. Most artists would rather find a cheaper option to save money for recording or other options rather than spending it on a place to practice. Sorvinos Pro Rehearsal (www.myspace.com/sorvinos) is a cheaper option, but still charges $300 per month for a temperature controlled space. We feel the more formal rehearsal spaces will have a minimal impact on our business and well lose more artists because of their ability to practice in a garage or a basement.

MARKET
I. Customer - Bands Target Market Driven and passionate, our ideal customer is a group of four-to-five individuals between the ages of 18 and 28 and seeking legitimacy in their music careers. Musicians in this age group are more familiar with the digital landscape of the music industry than their older counterparts but experience similar time constraints. As a result, our target market struggles to balance songwriting and performing with the managerial and marketing tasks necessary for their music to be heard. A majority of men and women in our target market do not have college degrees but more are attending some college before focusing primarily on developing a career as an independent musician. Artist Revenue A 2012 study conducted by the Future of Music Coalition included the results of 80 inperson interviews and a survey of 5,000 artists and musicians. These individuals and groups represented a variety of types of musicians and held roles ranging from studio musicians to orchestral performers. The study estimates 42 artist revenue streams. Among these sources of income are higher profile sources such as performance sales and sync licensing but also developing sources such as digital sales or fan funding. 10 (http://money.futureofmusic.org/40-revenue-streams/) In a case study following an independent music composer and performer, the Future of Music Coalition found this performer made ~70% of his earnings through live performance 11 (http://money.futureofmusic.org/case-study-a/). However, these earnings were the result of several years invested in composition. We intend to use this information to improve our value proposition by aligning our offering with our clients potential streams of revenue. II. Customer - Fans According to a 2012 report by MusicMetric, getting people to actually hear the music at all is a huge factor in the growth of an artist Of the 405 million downloads worldwide 78% albums were albums and 22% were singles. While album sales are low, downloads of albums legally and illegally are rising, with 96.6 million BitTorrent

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downloads in the US during the first six months of 2012. (http://www.musicmetric.com/dmi/)

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Bolt Audio focuses on niche markets within the music industry. Rather than matching our clients with the largest number of fans possible, we aim to pair our clients with the most active fans. According to an independent study by Gracie Management 13, the likelihood of a fan seeking new music depends on if their friends are also actively seeking new music. III. B2B (band to band) Following the acquisition of several clients, Bolt Audio will cross-promote and connect bands within the Bolt Audio portfolio. Bolt seeks to place these bands in online publications, social media websites, in-store appearances, and Bolt Audio artist showcases. In-store appearances and artist showcases are ways that bands can spend face time with fans, other bands, and the local community. In particular, artist showcases legitimize performing bands by offering high-caliber live performances and content. In addition to partnering bands with other bands locally, Bolt Audio can assist bands across regions by informing potential fans and booking tours. By integrating the fan bases of similar bands, the careers of our clients as well as our brand, will improve. IV. Market Size The total number of independent artists is highly fluid as each year, more independent artists enter the. As a result, no aggregate number is available through industry statistics, government statistics or independent research. However, there are a few sources to estimate the total market size. Reverbnation.com is a social media site specifically made for independent artists, venues and booking agents, where anyone can create a profile based on which category they fall into. Currently, Reverbnation has 2.5 million artist accounts worldwide, with 56% (1.4 million) of those in the United States. MusicMetric, an online analytics company focusing on musical artists, estimates and tracks just over 750,000 independent artists in the world14 (http://static.semetric.com/dmi/2012.09.17/Musicmetric_DMI_Extended_Summary_2012 .pdf). However after looking into this number, we searched for several acclaimed artists that are not accounted for in this statistic. Bolt estimates the total market size for independent artists within the United States to be somewhere between 900,000 and 1.5 million. V. Targeted Market Share Bolt has a strategic plan of engaging a limited number of artists during our nascence and beta phases in order to establish legitimacy. This number will increase incrementally by phase, starting at two artists and ramping up to 25 artists at the end of beta III. Bolt feels that we can capture 40 artists annually, or .00004% of the TAM per location opened. As our operations grow and expand into new markets, regions, and business functions were confident this number will continuously increase.

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VI. Marketing & Promotion Strategy Due to recent changes in the industry, Bolt Audio will implement an integrated marketing strategy, combining local events with online media. During the nascence phase, we will observe social media activity and engage in concerts at local venues such as The Camel and Balliceaux. Our ability to discover contrasts between online presence and on-stage performance is a benefit of this approach. Another action during this stage requires surveying. While our staff attends these and other music-related events such as festivals or venues such as cafes, we will inquire fan sentiment towards local musicians and concerts. VII. Defining Success for the Artist As a player in a digital landscape, data serves as a way of understanding and transforming our artists position in their scene. Through MusicMetric, an online analytics tool, Bolt Audio can track macro and micro trends within the music industry. Quantitative metrics such as social media engagement, geographic, demographic, and torrent downloads are available to be aggregated and segmented accordingly. Qualitative metrics such as fan sentiment and artists reviews are also available, focusing decision making. Such metrics enhance our understanding as creative project managers and increase our clients understanding of which actions yield the strongest return for our client relative to their competition. Whether this return is through revenue, reach, or frequency, tools such as MusicMetric can shape how our clients can reward their fans locally and globally. VIII. Artist Retention At Bolt, we believe in developing and transforming relationships with our clients over the course of their careers. Even as projects end, our artist-first approach carries on. In the unfortunate event that a band splits up, we are ready to connect former members with other musicians within their respective scene. Actions like this are possible through the development of our database and our presence within local music communities. Overall, artist retention serves as a virtuous cycle, in which the success of alumni serves as an indicator of the feasibility of our process. Potential clients can refer to the career paths of past alumni and understand that Bolt was a common thread. Through our relationships with previous clients, we can ask alumni to co-host one of our artist showcases and mentor incoming clients. Leveraging the experience and goodwill of our alumni can enhance their Bolt Audio experience as well as the music community.

FINANCIALS
I. Capital 75,000 at 40% equity with a buyout option

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Current Assets Our current assets consist of studio hardware, software, and office equipment. The current total of each major categories are as follows: Category Signaling gear Microphones Total $5,800.00 $4,475.00

Instruments & amplifiers $8,850.00 Keyboards Pedals Percussion Computers Etc. Grand Total II. Start up Costs Studio Investments Microphones Front End Gear Mac Pro Desktop Total $6,663.00 $11,777.00 $6,298.00 $250.00 $1,025.00 $2,075.00 $1,075.00 $720.00 $24,270.00

HD Audio Production System $12,000.00 Room Treatment Grand Total $4,840.00 $41,578.00

The investment in microphones will allow for high quality recordings of acoustic instruments such as drums. Front End Gear is necessary for capturing and transforming audio. The Mac Pro Desktop will increase processing times and overall efficiency in production and editing the audio portion of our clients projects. Conversely, the HD Audio Production system will allow for a competitive post-production editing process. Further room treatment adheres to the City of Richmonds noise ordinances, as well as accompanies the needs of other businesses in our area. In addition to studio renovations and equipment purchases, other startup costs are as follows:

19

Startup Costs Rent (First + last) Dominion power deposit Water/Gas/Sewage Internet installation Web development Domain costs Business Insurance

Total $2,400.00 $250.00 $370.00 $0.00 $400.00 $20.00 $0.00

Office Furniture and Equipment $2,568.00 $6,008.00

III. Revenues Artist Projects The main revenue driver behind Bolt Audio will be from directly working with our artists. Before taking on any new project Bolt will offer a price quote based on the services requested and the needs of each artist. After emergence and operating at full capacity, we predict Bolt will be able to handle 40 artists per year at an average price of $7000 per artist resulting in $280,000 annually in revenue. We predict the average campaign will include a 5-track EP release, photographs to be used for both press and promotion, videos, branding, consulting, PR, management and licensing campaigns. Licensing Licensing fees can be difficult to calculate, especially during the beginning of the program. As Bolt Audios song catalogue increases and diversifies and as additional connections are made with music directors from 3rd party companies, this revenue will quickly grow. 3 different types of royalties artists can be paid for musically: Synchronization (Sync) 14, Mechanical15, and Performance16. Bolt will focus heavily on Sync licensing, as it is the
14

A music synchronization license - or sync license, for short - is a music license that allows the license holder to "sync" music to some kind of media output. Often sync licenses are used for TV shows and movies, but any kind of visual paired with sound requires a sync license.
15

Mechanical Royalties - mechanical license gives the holder permission to create copies of a recorded song which they did not write and/or do not have copyright over. It is an agreement with the composition copyright holder, the publisher, or the songwriter that allows the holder to reproduce the composition.

20

most effective for exposure to the artist, and the most lucrative for both Bolt Audio and our artists. Every time a song is licensed there are two separate payments made. One payment goes to the owner of the actual physical recording, which is paid by the licenser, and the other payment is sent to the songwriters, which is paid out by the Performance Rights Organization (PRO). Bolt Audio will split any payment received 50/50 with our artists from each license issued. This type of split is the industry standard. That said, our artists would maintain 100% ownership of their physical recordings. Since we are focusing on sync licensing, this will have very little impact on our predicted revenue. However, it will benefit the artist, allowing them to receive public performance and mechanical royalties from their PRO. When a song is licensed to a TV show, commercial, movie, the payment is highly negotiable. Factors that determine the payment include, but are not limited to: length of use, total audience expected to hear the song, whether or not an instrumental version is needed or instrumentals plus vocals, where in the program the song is being used, etc. While it is difficult to anticipate the number of licenses securable annually, in addition to the rate per license, we expect an average of $1000 payout per license issued with approximately 17 licenses in Year One of the program. Such licenses would net Bolt Audio $8,500 in the first year. Practice Space Rental In an effort to fully utilize the 3600 square feet in our facility, Bolt will offer space for rental to artists to practice, write and rehearse. Not only will this help to increase revenue, but also upstream potential clients to use additional services. With four practice spaces at approximately 120 sq ft per space and $250 per month, we predict we can have 100% capacity year round netting an addition $12,000 of revenue annually.

Studio Rental During our first two beta phases, we plan on renting out our studio space to outside producers for projects they have with their clients. During our artist acquisition phase we wont be utilizing the studio to its fullest potential and can rent out this additional time. Revenue will be hirer during the initial beta phases and steadily decline as we reach capacity.

16

Performance Royalties - A performance royalty is paid anytime a song is played in front of an audience. This can be a live public performance in a venue, a recording of a song played in a restaurant, a song being played over the internet or radio, etc.

21

During year one we predict studio rental revenue to be $42,728 and quickly dropping off to $17,920 in year two. Below is an example of a 31-day month from year one on how we have calculated our expected rental revenue: 744 total hours available in 31-day month 180 hours for Bolt Audio clients (15 days at 12 hours per day) 308 hours for downtime/late hours ------------256 hours remaining of available time Goal of 70% occupancy = 179 rented hours X $20 per hour -------------------Total - $3580 per month Events Initially, Bolt Audio plans on hosting 2-3 annual events that showcase our artists talents alongside other major national acts by partnering with local and regional music venues. By having a bigger national act headlining both Bolt Audio and our clients will benefit. For our artists it will improve their resume, increase their exposure to new potential fans, legitimize them within their fan base, and allow them to establish new connections. For Bolt Audio, this means increased revenue per event due to increased ticket sales, legitimacy within local community and clients, an expanded network, increase demand from new potential clients and other possible unseen benefits. Sticking to the artist first approach, Bolt Audio will be sure to compensate all performers fairly to help them invest in their own careers and futures. Many factors can change our total revenue per event for instance the capacity of the venue, the deal negotiated with the venue (split of bar and ticket revenue, split of just ticket revenue, flat fee), the headliners guaranteed payout, the number of tickets sold, the cost of tickets etc. A typical revenue breakdown for a live show in a 500-person capacity club per event would look as follows: Ticket Revenue - $10,000 - 500 tickets sold at $20 per ticket Venue cost - $2,895 - $350 flat fee + 30% of ticket sales Bolt Audio artist payout (4 artists) - $2,000 - $500 guarantee per artist Headliner artist payout - $3,000 (this can vary depending on the artist) ---------------------Remaining Revenue for Bolt Audio - $2,105 Although this is our expected typical breakdown for events hosted at mid-sized to smaller capacity venues, actual revenue will vary depending on type of event, attendees, sponsors, partners, artists etc.

22

IV. Expenses The overall annual expenses for Bolt Audio is relatively low, considering our servicebased business that does not rely on the expense of products or research & development. Of our expected $191,934 annual expenses, the vast majority will be going towards our staff for payroll. Operating Expenses Bolt Audios operating expenses are defined as the producers salary, staff payroll, contracted work, payroll taxes, rent, utilities, customer acquisition costs, web development, server hosting, online analytics, building renovations, and office supplies. Year 1 Producer's Salary Staff Payroll Contracted Work Payroll Taxes Rent Utilities Acquisition Website Server Hosting Online Analytics Building Renovations Office Supplies $15,324.00 $50,080.00 $2,000.00 $0.00 $14,400.00 $4,620.00 $3,000.00 $250.00 $120.00 $948.00 $2,000.00 $1,350.00 $94,092.00 Payroll Our staff payroll is by far our largest annual expense, which we estimate to be 86.7% of our total annual expenses. We calculated our base salary for staff based on expected cost of living in the Richmond, VA area for a recent college graduate. We feel this is a competitive wage in an industry many young, creative individuals would want to work in, considering our startup status and high school education requirements. Below is the estimated monthly breakdown cost of living for a college graduate: Year 2 $20,424.00 $89,200.00 $400.00 $0.00 $14,400.00 $4,620.00 $3,000.00 $0.00 $120.00 $948.00 $2,000.00 $1,350.00 $136,462.00 Year 3 $33,194.00 $133,332.00 $800.00 $0.00 $14,400.00 $4,790.00 $3,000.00 $120.00 $948.00 $1,350.00 $0.00 $1,350.00 $193,284.00

23

Rent - $550 Food - $250 Gas - $100 Car Insurance - $165 Cell Phone - $40 Medical Expense - $50 Student Loans - $300 Allowance - $100 ---------------------Total: $1455 We will compensate our employees $25,040 during the first year, followed by an increase to $29,733 during the second and third years, and $31,432 in year 4. Each of these projections is based on company performance during the first few beta phases of the startup. We anticipate having two staff members during the first beta phase and will hire one during Beta II and a fourth employee during Beta III. This fourth staff member will focus on developing and enhancing our licensing program. During our emergence phase in year four, we anticipate hiring two more staff members. Benefit packages will not be offered during beta phases. However as full operations begin, we will look into plans for our staff. As the company grows and new positions are needed, we plan on trying to hire within the company as much as possible to increase retention rates, create a high morale and a more efficient working relationship. Since producers require a niche skill and talent that differs from the rest of the staff, we calculated this salary accordingly. Our producer for Year One will earn $15,324 while working part time. This will allow our initial producer to seek outside work and still have the additional time to pad his income. $15,324 will work out to be approximately $1,915 per artist in the first year, a competitive payout industry wide. As our client list grows, and full time work is necessary, we will reflect this in salary with a 45% increase to $20,424 in salary by year two. Capital Expenditures Most of the capital expenditures in the first four years of operation can be categorized as startup costs. However, the only planned major investment is the build out of rehearsal units in Year Two. We plan on building five 12 x 15 spaces for bands to rehearse, practice and write at their leisure. We anticipate these units to bring in an additional $12,000 in revenue annually for a modest one-time cost of $3,000 in renovations. As the company grows and expands in year one of full-scale operations we anticipate many more major expenses, however more research will be needed before calculating costs. We plan to start the research for these expansion projects in year 3.

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TIMELINE
I. Nascence During our Nascence or Planning Phase (Months 1 2), the founding team comprises our staff. This initial phase of our business includes milestones such as finishing build out of our studio space and contacting and acquiring our first client. We intend to research, select and contact clients within 50 miles of the Richmond Metropolitan area through social networking sites such as Soundcloud and Facebook, attending regional concerts, and surveying concertgoers to assess band sentiment. II. Beta I, II, III Bolt Audio will operate in an extended three-part beta phase in an attempt to establish legitimacy over the long run. We understand the importance to show results with past clients to reach better artists and others outside of the immediate local areas. At the beginning of our first beta phase, our first client will undergo our process with our producer while our management personnel will continue researching, selecting, and contacting clients to work with over the next 12 months. During the first 3 months of this phase, we aim to contact and obtain 5 of the clients we will work with during this year and acquire contracts with the remaining 5 clients during months 4-6 of our first beta phase. Due to the number of clients we are maintaining relationships with, we intend on hiring one more staffer who will focus on recruitment and project management. Further testing and expansion mark our second beta phase. We aim to hire 3 new staff members, acquire 25 clients during this 9 month period, and undergo further building renovations. One of the new hires will be a producer who can share the studio and workload with the current producer. The other two hires will focus on recruitment and creative project management. These new hires are integral to acquiring and growing relationships with our clients and their community. Capital investment will go towards overnight housing and practice space development for local and visiting artists and bands. During our third and final beta phase (Months 25-36), we aim to increase our staff to 8: 2 producers, 3 creative project managers, and 3 recruiters. With 30 clients, our annual capabilities for our initial location are maximized. As such, depending on the success of our business, we intend to launch an additional location. During these 9 months we will research and assess potential markets in areas such as New England, Central Florida, and Tennessee. III. Emergence As Bolt nears the end of the beta phase, we expect to reach full operations. We feel we can handle up to 40 artists accounts annually with two producers, eight full time staffers and project managers, and one to two interns. Total profits of year one in full operations are still minimal with an estimated amount just south of 100,000 dollars annually. However to grow this number, Bolt will focus on new growth potential and other scalable areas of the business.

25

IV. Scalability & Growth As legitimacy is established and the Bolt brand recognition increases, we feel our business model is extremely scalable and can stand to grow in many different ways. During the first year of full operations, Bolt will instantly focus on areas for potential growth and will focus on three steps: Expand. Grow. Spread. Expand Due to the digital landscape of our industry, if this model proves to be successful in the mid-Atlantic region it is likely replicable in new markets as well. The ideal second location requires a large pool of independent artists and an active local music scene. While relocating would require further market research, we feel the New England area would be a great fit for the Bolt model. There are many venues in the immediate region and several emerging artists, which have created a solid music network. The location is similar to our original Richmond, VA region, which would serve to benefit both of our artists and staff as we consider expanding into new business functions. In order to maintain our artists first approach, Bolt would like to focus on options to further fill the needs of our independent artists. By expanding business functions to include booking, we can benefit our artists while increasing future revenue. Preliminary touring for new artists is best to be done in well-concentrated areas, for short amounts of time to reduce cost and maximize effectiveness. By opening a second location in the New England area, Bolt will be able to partner our northern artists with the mid-Atlantic based artists for packaged tours and other big events. Presence in both areas gives our artists exposure in new markets, promoting their bands as well as our brand. Grow Continued growth is another essential part of the business model. By developing a greater database and network of influential people, we can better serve our artists while reducing overall costs and increasing revenue. By meeting new people and networking, Bolt will drive a competitive advantage against other companies in the regions we serve. We will also focus on growing our song catalogue in order to procure more licenses. This will increase exposure for our artists, while adding more money to their wallets and also help Bolt raise revenue. As our song catalogue grows we will have more options to present to music directors. By growing our network and catalogue simultaneously, we feel we can have an extremely effective publishing division within Bolt. Outside of growing our already established databases, networks and song catalogues, we will focus on growing our brand recognition by increasing our online presence. We feel we could do more by hosting more than just our .com page and operating our social media sites. Adding an engaging self-help blog for other independent artists with links directing back to our main page will be effective. Adding additional domains like blog.boltaudio.com and booking.boltaudio.com will also increase our online searchability and brand recognition.

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Spread Although Bolt has a core competency of working in the area of independent rock artists, we feel that we can spread out and explore other musical areas. As we stated earlier, more artists are entering the long tail section of the music industry and we feel we can engage with artists across genres to help them in their niche areas. With congruent staffing and research, our model will work in additional areas. Expand, grow and spread are three areas of future scalability. We feel taking a Red Bull approach to Bolt would be highly effective and prove to be what the music industry needs. Red Bull sells energy drinks in order to be able to sell a lifestyle, intensity and energy all while expanding their brand recognition. Bolt wants to take the money invested in our company by our artists to reinvest in the artists we work with, the music scene and the local community. Rather than simply selling our artists, we want to sell organic, localized entertainment for all to enjoy on a national level.

27

Invest Today
Entering operation, Bolt will have approximately $25,000 in assets, primarily consisting of music and pro audio equipment. We are seeking an additional $75,000 in startup capital to be used towards initial investments and general operating expenses. At 40% equity, we will begin payback in year 4. With revenues over $430,000 in the first year of full operations, an additional $30,000 in studio equipment assets, a song catalogue generating approximately $124,000 annually (includes payouts to our artists), brand equity, and other IP, we value our company to be $900,000 at the end of year 4. At this point, our team will focus on expanding into new markets, expanding business functions and focusing on additional niche markets. Additional markets will have a quicker ramp up time to full operations because of brand equity, less staff being required, and general practices will have already been established. As a result, future revenues will increase at a quicker pace, smoothly launching Bolt to a million dollar operation.

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APPENDICES
Four Year Pro Forma Statement
Nascence September Bundled Services $ 1,000.00 Studio Rental Time $ 3,372.00 Practice Space Rental $ Events $ Licensing Fees $ Affiliate Program $ 50.00 Total Revenue $ 4,422.00 Operating Expenses Producer's Salary Staff Payroll Contracted Work Payroll Taxes Rent Utilities Acquisition Website Server Hosting Online Analytics Building Renovations Office Supplies Total Operating Expenses EBIT October $ 1,000.00 $ 3,752.00 $ $ $ $ $ 4,752.00 Beta I November $ $ $ $ $ $ $ 2,000.00 3,528.00 1,000.00 50.00 6,578.00 December $ 3,000.00 $ 3,752.00 $ $ $ $ $ 6,752.00 January $ $ $ $ $ $ $ 2,000.00 3,752.00 100.00 5,852.00 February $ 4,000.00 $ 2,352.00 $ $ $ $ 100.00 $ 6,452.00 March $ 3,000.00 $ 3,752.00 $ $ $ 500.00 $ 100.00 $ 7,352.00 April $ 5,000.00 $ 3,528.00 $ $ $ 500.00 $ 100.00 $ 9,128.00 May $ 5,000.00 $ 3,752.00 $ $ $ 500.00 $ 100.00 $ 9,352.00 June $ $ $ $ $ $ $ 5,000.00 3,528.00 1,000.00 100.00 9,628.00 July $ $ $ $ $ $ $ 5,000.00 3,752.00 1,000.00 100.00 9,852.00 August $ 5,000.00 $ 3,752.00 $ $ $ 500.00 $ 100.00 $ 9,352.00 Year 1 TOTAL $ 41,000.00 $ 42,572.00 $ $ 1,000.00 $ 4,000.00 $ 900.00 $ 89,472.00

$ 1,277.00 $ 1,565.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 250.00 $ 10.00 $ 79.00 $ 4,500.00 $ 250.00 $ 9,966.00 $ (5,544.00)

$ $ $ $ $ $ $ $ $ $ $ $ $ $

1,277.00 1,565.00 1,200.00 385.00 250.00 10.00 79.00 100.00 4,866.00 (114.00)

$ 1,277.00 $ 4,695.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 8,196.00 $ (1,618.00)

$ 1,277.00 $ 4,695.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 7,996.00 $ (1,244.00)

$ 1,277.00 $ 4,695.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 8,196.00 $ (2,344.00)

$ $ $ $ $ $ $ $ $ $ $ $ $ $

1,277.00 4,695.00 200.00 1,200.00 385.00 250.00 10.00 79.00 100.00 8,196.00 (1,744.00)

$ 1,277.00 $ 4,695.00 $ 200.00 $ $ 1,200.00 $385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 8,196.00 $ (844.00)

$ $ $ $ $ $ $ $ $ $ $ $ $ $

1,277.00 4,695.00 200.00 1,200.00 385.00 250.00 10.00 79.00 100.00 8,196.00 932.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $

1,277.00 4,695.00 200.00 1,200.00 385.00 250.00 10.00 79.00 100.00 8,196.00 1,156.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $

1,277.00 4,695.00 200.00 1,200.00 385.00 250.00 10.00 79.00 100.00 8,196.00 1,432.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $

1,277.00 4,695.00 200.00 1,200.00 385.00 250.00 10.00 79.00 100.00 8,196.00 1,656.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $

1,277.00 4,695.00 200.00 1,200.00 385.00 250.00 10.00 79.00 100.00 8,196.00 1,156.00

$ $

15,324.00 50,080.00 $2,000 $ $ 14,400.00 $ 4,620.00 $ 3,000.00 $ 250.00 $ 120.00 $ 948.00 $ 4,500.00 $ 1,350.00 $ 96,592.00 $ (7,120.00)

Income Before Taxes State Federal Total Tax Expense$ $ Net Income $ (5,544.00) $

$ $ $ $ $ (114.00) $ (1,618.00) $ (1,244.00) $ (2,344.00) $ (1,744.00) $

$ (844.00) $

932.00

$ $ 1,156.00

$ $ 1,432.00

$ $ 1,656.00

$ $ 1,156.00

$ $

(7,120.00)

Beta I September Bundled Services $ 5,000.00 Studio Rental Time $ 3,528.00 Practice Space Rental $ Housing $ Events $ Licensing Fees $ 500.00 Affiliate Program $ 50.00 Total Revenue $ 9,078.00 Operating Expenses Producer's Salary Staff Payroll Contracted Work Payroll Taxes Rent Utilities Acquisition Website Server Hosting Online Analytics Building Renovations Office Supplies Total Operating Expenses EBIT

October $ 5,000.00 $ 3,752.00 $ $ $ $ 500.00 $ $ 9,252.00

Beta II November $ 5,000.00 $ 1,064.00 $ 1,000.00 $ 500.00 $ 1,000.00 $ $ 8,564.00

December $ $ $ $ $ $ $ $ 5,000.00 1,064.00 1,000.00 500.00 1,500.00 9,064.00

January $ 8,000.00 $ 1,064.00 $ 1,000.00 $ 500.00 $ 2,500.00 $ 500.00 $ $ 13,564.00

February $ 10,000.00 $ 1,064.00 $ 1,000.00 $ 500.00 $ $ 500.00 $ 100.00 $ 13,164.00

March $ 10,000.00 $ 1,064.00 $ 1,000.00 $ 500.00 $ $ 500.00 $ 50.00 $ 13,114.00

April $ 10,000.00 $ 1,064.00 $ 1,000.00 $ 500.00 $ $ 500.00 $ $ 13,064.00

May $ 11,000.00 $ 1,064.00 $ 1,000.00 $ 500.00 $ $ 500.00 $ 100.00 $ 14,164.00

June $ 11,000.00 $ 1,064.00 $ 1,000.00 $ 500.00 $ $ 1,000.00 $ $ 14,564.00

July $ 11,000.00 $ 1,064.00 $ 1,000.00 $ 500.00 $ 2,500.00 $ 1,000.00 $ $ 17,064.00

August $ 12,000.00 $ 1,064.00 $ 1,000.00 $ 500.00 $ $ 500.00 $ $ 15,064.00

Year 2 TOTAL $ 103,000.00 $ 17,920.00 $ 10,000.00 $ 5,000.00 $ 5,000.00 $ 8,500.00 $ 300.00 $ 149,720.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $

1,277.00 4,695.00 200.00 1,200.00 385.00 250.00 10.00 79.00 250.00 8,346.00 732.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $

1,277.00 4,695.00 200.00 1,200.00 385.00 250.00 10.00 79.00 100.00 8,196.00 1,056.00

$ 1,787.00 $ 7,981.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ 3,000.00 $ 100.00 $ 14,792.00 $ (6,228.00)

$ 1,787.00 $ 7,981.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 11,792.00 $ (2,728.00)

$ 1,787.00 $ 7,981.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 11,792.00 $ 1,772.00

$ 1,787.00 $ 7,981.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 11,792.00 $ 1,372.00

$ 1,787.00 $ 7,981.00 $ $ $ 1,200.00 $385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 11,792.00 $ 1,322.00

$ 1,787.00 $ 7,981.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 11,792.00 $ 1,272.00

$ 1,787.00 $ 7,981.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 11,792.00 $ 2,372.00

$ 1,787.00 $ 7,981.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 11,792.00 $ 2,772.00

$ 1,787.00 $ 7,981.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 11,792.00 $ 5,272.00

$1,787.00 $ 7,981.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ $ 10.00 $ 79.00 $ $ 100.00 $ 11,792.00 $ 3,272.00

$ 20,424.00 $ 89,200.00 $ 400.00 $ $ 14,400.00 $ 4,620.00 $ 3,000.00 $ $ 120.00 $ 948.00 $ 2,000.00 $ 1,350.00 $ 136,462.00 $ 13,258.00

Income Before Taxes State Federal Total Tax Expense$ Net Income $

732.00

$ $ 1,056.00

$ $ $ $ (6,228.00) $ (2,728.00) $

1,772.00

$ $ 1,372.00

$ $ 1,322.00

$ $ 1,272.00

$ $ 2,372.00

$ $ 2,772.00

$ $ 5,272.00

$ $ 3,272.00

$ $

13,258.00

BetaII September Bundled Services $ 10,000.00 Studio Rental Time $ 1,064.00 Practice Space Rental $ 1,000.00 Events $ 1,000.00 Licensing Fees $ 500.00 Affiliate Program $ 100.00 Total Revenue $ 13,664.00 Operating Expenses Producer's Salary Staff Payroll Contracted Work Payroll Taxes Rent Utilities Acquisition Server Hosting Online Analytics Office Supplies Total Operating Expenses EBIT

October $ 10,000.00 $ 1,064.00 $ 1,000.00 $ $ 500.00 $ 100.00 $ 12,664.00

Beta III November $ 10,000.00 $ 1,064.00 $ 1,000.00 $ $ 1,500.00 $ 50.00 $ 13,614.00

December $ 10,000.00 $ 1,064.00 $ 1,000.00 $ $ 2,000.00 $ 50.00 $ 14,114.00

January $ 12,000.00 $ 800.00 $ 1,000.00 $ 4,000.00 $ 2,000.00 $ 50.00 $ 19,850.00

February $ 14,000.00 $ 800.00 $ 1,000.00 $ $ 2,000.00 $ 150.00 $ 17,950.00

March $ 16,000.00 $ 800.00 $ 1,000.00 $ $ 2,000.00 $ 150.00 $ 19,950.00

April $ 18,000.00 $ 800.00 $ 1,000.00 $ 1,000.00 $ 2,000.00 $ 200.00 $ 23,000.00

May $ 16,000.00 $ 800.00 $ 1,000.00 $ 2,500.00 $ 2,000.00 $ 150.00 $ 22,450.00

June $ 14,000.00 $ 1,064.00 $ 1,000.00 $ 2,000.00 $ 2,500.00 $ 50.00 $ 20,614.00

July $ 10,000.00 $ 1,064.00 $ 1,000.00 $ 4,000.00 $ 2,500.00 $ 50.00 $ 18,614.00

August $ 10,000.00 $ 1,064.00 $ 1,000.00 $ 2,000.00 $ 1,500.00 $ 50.00 $ 15,614.00

Year 3 TOTAL $ 150,000.00 $ 11,448.00 $ 12,000.00 $ 16,500.00 $ 21,000.00 $ 1,150.00 $ 212,098.00

$ 1,277.00 $ 7,981.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 250.00 $ 11,632.00 $ 2,032.00

$ 1,277.00 $ 7,981.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 11,482.00 $ 1,182.00

$ 3,064.00 $ 7,981.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 13,269.00 $ 345.00

$ 3,064.00 $ 7,981.00 $ 200.00 $ $ 1,200.00 $ 410.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 13,294.00 $ 820.00

$ 3,064.00 $ 12,676.00 $ $ $ 1,200.00 $ 450.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,829.00 $ 2,021.00

$ 3,064.00 $ 12,676.00 $ $ $ 1,200.00 $ 450.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,829.00 $ 121.00

$ 3,064.00 $ 12,676.00 $ $ $ 1,200.00 $400.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,779.00 $ 2,171.00

$ 3,064.00 $ 12,676.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,764.00 $ 5,236.00

$ 3,064.00 $ 12,676.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,764.00 $ 4,686.00

$ 3,064.00 $ 12,676.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,764.00 $ 2,850.00

$ 3,064.00 $ 12,676.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,764.00 $ 850.00

$ 3,064.00 $ 12,676.00 $ $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,764.00 $ 3,700.00

$ 33,194.00 $ 133,332.00 $ 800.00 $ $ 14,400.00 $ 4,790.00 $ 3,000.00 $ 120.00 $ 948.00 $ 1,350.00 $ 191,934.00 $ 20,164.00

Income Before Taxes State Federal Total Tax Expense Net Income $ 2,232.00

$ 1,282.00

545.00

$ 1,020.00

2,021.00

121.00

$ 2,171.00

$ 5,236.00

$ 4,686.00

$ 2,850.00

850.00

$ 3,700.00

20,164.00

29

Four Year Pro Forma Contd

BetaIII September Bundled Services $ 14,000.00 Studio Rental Time $ 1,064.00 Practice Space Rental $ 1,000.00 Events $ 1,000.00 Licensing Fees $ 2,000.00 Affiliate Program $ 100.00 Total Revenue $ 19,164.00 Operating Expenses Producer's Salary Staff Payroll Contracted Work Payroll Taxes Rent Utilities Acquisition Server Hosting Online Analytics Office Supplies Total Operating Expenses EBIT October $ 18,000.00 $ 1,064.00 $ 1,000.00 $ 1,000.00 $ 1,500.00 $ 100.00 $ 22,664.00 Full Operations November December $ 22,000.00 $ 1,064.00 $ 1,000.00 $ 1,500.00 $ 4,500.00 $ 100.00 $ 30,164.00 $ 24,500.00 $ 800.00 $ 1,000.00 $ 3,000.00 $ 5,500.00 $ 100.00 $ 34,900.00 January $ 26,500.00 $ 800.00 $ 1,000.00 $ 4,000.00 $ 5,500.00 $ 150.00 $ 37,950.00 February $ 28,500.00 $ 800.00 $ 1,000.00 $ 1,000.00 $ 5,500.00 $ 200.00 $ 37,000.00 March $ 30,000.00 $ 800.00 $ 1,000.00 $ 1,000.00 $ 6,000.00 $ 250.00 $ 39,050.00 April $ 28,000.00 $ 800.00 $ 1,000.00 $ 2,500.00 $ 5,000.00 $ 300.00 $ 37,600.00 May $ 26,000.00 $ 800.00 $ 1,000.00 $ 2,500.00 $ 6,000.00 $ 250.00 $ 36,550.00 June $ 24,000.00 $ 1,064.00 $ 1,000.00 $ 4,000.00 $ 6,500.00 $ 100.00 $ 36,664.00 July $ 22,500.00 $ 1,064.00 $ 1,000.00 $ 8,000.00 $ 7,000.00 $ 150.00 $ 39,714.00 August $ 22,500.00 $ 1,064.00 $ 1,000.00 $ 4,000.00 $ 7,000.00 $ 150.00 $ 35,714.00 Year 4 TOTAL $ 286,500.00 $ 11,184.00 $ 12,000.00 $ 33,500.00 $ 62,000.00 $ 1,950.00 $ 407,134.00

$ 3,064.00 $ 12,676.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,964.00 $ 1,200.00

$ 3,064.00 $ 12,676.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 17,964.00 $ 4,700.00

$ 4,136.00 $ 15,176.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 200.00 $ 21,636.00 $ 8,528.00

$ 4,136.00 $ 15,716.00 $ 200.00 $ $ 1,200.00 $ 410.00 $ 250.00 $ 10.00 $ 79.00 $ 150.00 $ 22,151.00 $ 12,749.00

$ 4,136.00 $ 15,716.00 $ 300.00 $ $ 1,200.00 $ 450.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 22,241.00 $ 15,709.00

$ 4,136.00 $ 15,716.00 $ 150.00 $ $ 1,200.00 $ 450.00 $ 250.00 $ 10.00 $ 79.00 $ 150.00 $ 22,141.00 $ 14,859.00

$ 4,136.00 $ 15,716.00 $ 200.00 $ $ 1,200.00 $400.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 22,091.00 $ 16,959.00

$ 4,136.00 $ 15,716.00 $ 250.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 150.00 $ 22,176.00 $ 15,424.00

$ 4,136.00 $ 15,716.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 22,076.00 $ 14,474.00

$ 4,136.00 $ 15,716.00 $ 100.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 21,976.00 $ 14,688.00

$ 4,136.00 $ 15,716.00 $ 200.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 150.00 $ 22,126.00 $ 17,588.00

$ 4,136.00 $ 15,716.00 $ 250.00 $ $ 1,200.00 $ 385.00 $ 250.00 $ 10.00 $ 79.00 $ 100.00 $ 22,126.00 $ 13,588.00

$ 47,488.00 $ 181,972.00 $ 2,450.00 $ $ 14,400.00 $ 4,790.00 $ 3,000.00 $ 120.00 $ 948.00 $ 1,500.00 $ 256,668.00 $ 150,466.00

Cash Flow Statement

Month 1 September Nascence Month 2 October Month 3 November Beta Phase I Month 4 December Month 5 January Month 6 February Month 7 March Month 8 April Month 9 May Month 10 June Month 11 July Month 12 August

Cash Flow From Financing

Proceeds From Equity Proceeds From Debt $ 75,000.00 $ $ (40,655.00) $ $ 28,957.00 $ 1,000.00 $ 3,752.00 $ $ $ $ $ 33,709.00 $ 28,843.00 $ 2,000.00 $ 3,528.00 $ 1,000.00 $ $ $ 50.00 $ 35,421.00 $ 27,225.00 $ 3,000.00 $ 3,752.00 $ $ $ $ $ 33,977.00 $ 25,981.00 $ 2,000.00 $ 3,752.00 $ $ $ $ 100.00 $ 31,833.00 $ 23,637.00 $ 4,000.00 $ 2,352.00 $ $ $ $ 100.00 $ 30,089.00 $ 21,893.00 $ 3,000.00 $ 3,752.00 $ $ 500.00 $ $ 100.00 $ 29,245.00 $ 21,049.00 $ 5,000.00 $ 3,528.00 $ $ 500.00 $ $ 100.00 $ 30,177.00 $ 21,981.00 $ 5,000.00 $ 3,752.00 $ $ 500.00 $ $ 100.00 $ 31,333.00 $ 23,137.00 $ 5,000.00 $ 3,528.00 $ $ 1,000.00 $ $ 100.00 $ 32,765.00 $ $ $ $ $ $ $ $ 24,569.00 5,000.00 3,752.00 1,000.00 100.00 34,421.00 $ 26,225.00 $ 5,000.00 $ 3,752.00 $ $ 500.00 $ $ 100.00 $ 35,577.00

Cash Flow From Investing

Initial studio/office investments

Cash Flows from Operating Activities

Beginning Cash Collections Bundled Services Studio Rental Events Licensing Fees Affiliate Program Net Collections

$ 1,000.00 $ 3,528.00 $ $ $ 50.00 $ $ 38,923.00

Cash Available for Operations

Cash Operating Costs

$ 38,923.00 $ 9,966.00

$ 33,709.00 $ 4,866.00

$ 35,421.00 $ 8,196.00

$ 33,977.00 $ 7,996.00

$ 31,833.00 $ 8,196.00

$ 30,089.00 $ 8,196.00

$ 29,245.00 $ 8,196.00

$ 30,177.00 $ 8,196.00

$ 31,333.00 $ 8,196.00

$ 32,765.00 $ 8,196.00

34,421.00 $8,196.00

$ 35,577.00 $ 8,196.00

Net Cash After Operations

Interest Expense Income Taxes Paid

$ 28,957.00

$ 28,843.00

$ 27,225.00

$ 25,981.00

$ 23,637.00

$ 21,893.00

$ 21,049.00

$ 21,981.00

$ 23,137.00

$ 24,569.00

26,225.00

$ 27,381.00

$ 28,843.00 $ 27,225.00 $ 25,981.00 $ 23,637.00 $ 21,893.00 $ 21,049.00 $ 21,981.00 $ 23,137.00 $ 24,569.00 $ 26,225.00 $ 27,381.00

Ending Cash Balance

$ 28,957.00

Burn Rate $ (9,966.00) $

(114.00) $ (1,618.00) $ (1,244.00) $ (2,344.00) $ (1,744.00) $

Positive Cash Flows (844.00) $ 932.00 $ 1,156.00

1,432.00

1,656.00

1,156.00

30

Balance Sheet
Balance Sheet

Balance Sheet
ASSETS Current Assets Cash and cash equivalents Revenue Generated Bundled Services Studio Rental Time Practice Space Rental Housing Events Licensing Fees Affiliate Program Accounts Receivable Bundled Services Inventory Total Total Current Revenue Assets Fixed Assets Office Furniture Studio Equipment Total Fixed Assets Total Assets LIABILITIES Current Liabilities Operating Expenses Other Current Liabilies Total Current Liabilities LT Note Total Liabilities EQUITY

Year 1 Nascence - Beta I

Year 2 Beta II

Year 3 Beta III

Year 4 Full Operations

98,420.00

107,420.00

138,678.00

189,842.00

$ $ $$$ $ $

41,000.00 42,572.00

1,000.00 4,000.00 900.00 $9,000.00

$ $ $ $ $ $ $

103,000.00 17,920.00 10,000.00 5,000.00 5,000.00 8,500.00 300.00 $18,000.00

$ $ $ $ $ $ $

150,000.00 11,448.00 12,000.00 16,500.00 21,000.00 1,150.00 $31,000.00

$ $ $ $ $ $ $

286,500.00 11,184.00 12,000.00 33,500.00 62,000.00 1,950.00 $30,000.00

196,892.00

$ 275,140.00

$ 381,776.00

$ 437,134.00

$ $ $ $

2,568.00 41,578.00 44,146.00 241,038.00

$ $ $

2,259.84 36,588.64 38,848.48

$ $ $

1,988.66 32,198.00 34,186.66

$ $ $

1,750.02 28,334.24 30,084.26

$ 313,988.48

$ 415,962.66

$ 467,218.26

$ $

89,472.00 89,472.00

$ $

136,462.00 136,462.00

$ $

191,934.00 191,934.00

$ $

256,668.00 256,668.00

89,472.00

$ 136,462.00

$ 191,934.00

$ 256,668.00

Total Equity

Owner's Equity (Capital Investment) $ Retained Earnings $ $ $

75,000.00 76,566.00 151,566.00 241,038.00

$ $

177,526.48 177,526.48

$ $

224,028.66 224,028.66

$ $

210,550.26 210,550.26

Total Liabilities and Equity

$ 313,988.48

$ 415,962.66

$ 467,218.26

31

About the Team

Finding a balance for his analytical left-brain and creative right-brain has been a consistently internal struggle for Robert Rusbuldt. It is one reason why he is currently studying Business Administration and Management degree from Virginia Commonwealth University, but spent the four previous years in a touring band playing over 250 shows all across the country. Combining the two skill sets has allowed Robert to facilitate a publishing deal with Viacom leading to placements on MTV, A&E, and HGTV, as well as a distribution deal with mall retailer, Hot Topic, resulting in his album on the shelves over 35 retail stores along the east coast. With the little free time he has, Robert enjoys spending time with his corgi and reading a good book; as long as its non-fiction. Tavish Faggart is currently a senior studying economics and entrepreneurship at Virginia Commonwealth University. Prior to enrolling to VCU in the Fall of 2009, Tavish spent several years concepting, researching, and creating music in the Hampton Roads area. He spent 7 months writing for The Horn, a student-run online music journal, during which he interviewed local and national industry professionals, in addition to reviewing music releases and live concerts. Aside from music, Tavish has an affinity for online retail and the innovative tactics that align with it. He spends what is left of his spare time listening to National Public Radio and developing new hobbies. His latest: cooking.

32

Team Resumes
Robert A. Rusbuldt Jr.
EDUCATION Virginia Commonwealth University, Richmond, VA Bachelor of Science in Business Administration and Management Expected Graduation December 2013 UCLA Extension Program, Los Angeles, CA Certificate of Completion, Music Business EXPERIENCE Producer | Sound Check Studios | Producer Richmond, VA | March 2013 Present Manage studio scheduling for all artists, mixers and outside producers Maximize efficiency in workflow through out entire production process Capture and mix high quality takes to create a desired sound Booking Agent, Manager, Band Member | Safety Word Orange Los Angeles, CA | October 2007 - August 2011 Routed effective and cost efficient tour plans that target specific markets and age groups most beneficial to the band Handled daily operations by effectively communicating via email, phone and text with promoters, producers press and other interested parties Developed and reconcile a budget for marketing, transportation and capital expenses Intern | Side One Dummy Records Los Angeles, CA | August 2008 - August 2009 Processed and shipped online orders Printed, updated and filed Nielsen Soundscan settlement sheets for artists before and after tour Updated and maintained all artists social media sites NOTABLE COURSEWORK New Venture Strategy + Initiation Yearlong collaborative sequence focused on the theory + application of business development Co-developed project management agency to connect music artists to listeners RELATED SKILLS Proficient in Microsoft Office (Word, Excel, Outlook, Powepoint) Proficient in Web 2.0 (Twitter, Facebook, MySpace, YouTube, etc.) Proficient in Digital Audio Workstations (Pro Tools, Logic Pro and Melodyne)

33

Tavish T. Faggart EDUCATION

Bachelor of Science in Economics | Virginia Commonwealth University | Richmond, VA | May 2013

EXPERIENCE Ecommerce Intern | Ledbury Richmond, VA | October 2012 Present

Created + shared monthly customer acquisition reports Aggregated customer data by source, medium + respective revenue Engaged in online brand community forum hosted at Styleforum.net Increased existing views from 10,000 to 12,000 in first month Interpreted + compared 4,000 customer-subscriber survey responses Created narrative to share product + media insights for Vice President of Branding

Partner | Brass Tacks Garment Company brasstacksgarment.co | March 2012 Present

Researched + analyzed market competition to assess best market fit Strategically crafted product descriptions, tags, + online store policies for SEO Sold 45% of initial inventory within two months of launch

PROJECTS + ASSOCIATIONS Team Leader | 2013 Google Online Marketing Challenge

March 2013 Present Engaged in student-led Google AdWords campaign for local sportswear retailer Currently developing strategy to increase in-store traffic + customer acquisition

President | Economics Club at Virginia Commonwealth University November 2011 August 2012
Initiated department-wide panel showcasing professors + upcoming courses Increased solidarity within department + informed students of elective options Initiated Marketing Committee to increase event attendance + club awareness Streamlined leadership recruitment for Spring 2013 executive board Increased email database by 21% during Fall 2011 semester

Business Researcher | Shop RVA April 2011 August 2011

Co-created database of 200 Richmond businesses + associations for local shopping initiative

NOTABLE COURSEWORK New Venture Strategy + Initiation

Yearlong collaborative sequence focused on the theory + application of business development Co-developed project management agency to connect music artists to listeners Crafted story for marketing + finance pitches

RELATED SKILLS
Industry Research | Project Management | Online Community Engagement | Content Analysis Business Development | Web Analytics | Presenting | Storytelling

34

Works Cited (1) Pre-production - The process between songwriters and their producer ensuring all elements of a song are prepared prior to recording. Often times this can include tweaks to chord progressions, percussion, melodies and sometimes full on rewrites. The goal is to write a fully cohesive song that has a clear direction and captivates the listener. (2) Mastering - the process of preparing and transferring recorded audio from a source containing the final mix to a data storage device. This often involves balancing audio decibel levels between multiple songs so they have a uniform sound for an album release (3) Post-production - The process occurring in video and film work after the actual end of shooting and/or recording of the completed work. When pertaining to audio, this usually means leveling of audio, overdubs in voice work, the addition of sound effects and any other enhancement to the audio. (4) Hernandez, Brian Anthony. Billboard Alters Music Charts to Add Digital Sales and Streaming Data. http://mashable.com/2012/10/12/billboard-charts-digital-streamingchanges/ (5) Albini, Steve. The Problem With Music. http://people.virginia.edu/~jrw3k/mediamatters/readings/cult_crit/Albini_The.Problem.Wit h.Music.pdf (6) http://www.reverbnation.com/band-promotion/ (7) Masnick, Mike. The Sky Is Rising: The Entertainment Industry Is Large & Growing... Not Shrinking. Tech Dirt. http://www.techdirt.com/articles/20120129/17272817580/sky-is-rising-entertainmentindustry-is-large-growing-not-shrinking.shtml (8) Ibis World. http://www.ibisworld.com/industry/default.aspx?indid=1254 (9) Ibis World. http://www.ibisworld.com/industry/default.aspx?indid=1253 (10) Thomson, Kristin. Future of Music Coalition. 42 Revenue Streams http://money.futureofmusic.org/40-revenue-streams/ (11) Thomson, Kristin. Future of Music Coalition. Case Study: Indie Rock ComposerPerformer http://money.futureofmusic.org/case-study-a/ (12) Music Metric. http://static.semetric.com/dmi/2012.09.17/Musicmetric_DMI_Extended_Summary_2012. pdf

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(13) Gracie, Chasson & Sinha, Ritika. Gracie Management. http://www.graciemgt.com/wp-content/uploads/2012/09/Gracie-Management-MusicConsumption-Model%E2%84%A2-Report.pdf (14) Synchronization Royalties - A music synchronization license - or sync license, for short - is a music license that allows the license holder to "sync" music to some kind of media output. Often sync licenses are used for TV shows and movies, but any kind of visual paired with sound requires a sync license. (15) Mechanical Royalties - mechanical license gives the holder permission to create copies of a recorded song which they did not write and/or do not have copyright over. It is an agreement with the composition copyright holder, the publisher, or the songwriter that allows the holder to reproduce the composition. (16) Performance Royalties - A performance royalty is paid anytime a song is played in front of an audience. This can be a live public performance in a venue, a recording of a song played in a restaurant, a song being played over the internet or radio, etc.

36