How we got here
So, I cofounded caketunes.com, a beat distribution marketplace and music sharing service for music-producers and emerging artiste in Africa.
Kindly read our story and progress below;
Never a time did I say I’d involve myself in some sort of entrepreneurial stunt? The whole point behind starting caketunes was not business but fun and passion for something I couldn’t really expatiate. With a whole dirty idea, not really understanding what I was up to, I proudly applied for startup south2 with no percent hope of becoming the winner but to learn and be the best I can be; we were bashed, corrected, and advised on how to kill it and face the business side of the real fact — it was a hot seat.
Lesson learned, but I lost in the pre-phase of startup south2, where startup were selected to pitch to a wide range of entrepreneurs and investors. Looking off that as a stepping stone and point to educate myself, I progressed into drastically studying the sides and chunks of my market; the bad, the ugly and the good.
Through a period of 8 months, almost a year I was still not sure about what I was doing. Instructions and different market analysis from diverse majors which quite saw me into deeper confusion. A newbie in a strange industry widely known for sounds, melody and rhythm. It was a tick to quit and I had a second red thought;
2. Find a market junkie
3. Dine with a producer
4. Retry again
5. Re-launch again, then I will quit.
Given all the retry… you don’t need to read ahead. It was all a joke doing music sharing without a clear revenue model. The point is no emerging artiste would pay for any service in your music startup in Nigeria; they solely want to pay for real value and then move on to sponsoring for free on blogs. 75% of these guys do not have enough money to waste — so we tried another luck and found a market junkie — artiste.
Artiste: what do I do now that I’m part of the team?
Me: Errm, clears throat… Tell me what you know about what I’m doing
Artiste: break it down, sir
Me: sadly, I’m confuse. Anyways, henceforth your job is to represent all emerging artiste, criticize our steps, search, see and report every detail in the industry.
This was a major stepping stone for us and I’ll always say that you can try out any industry with almost any lame idea, but you gotta get someone who’d play for you in the space. Given that my Co-founder, Light was a producer, he was still not conversant with the industry at large like we are getting already.
We are fast learners. We adjust in speed. But we got so terrible again, yet he warned us (market junkie) and I couldn’t catch these whole time. All the revenue model was being structured around artiste paying the heck out of them.
2nd lesson learned, no artiste’s wants to pay for any value you claim you can offer unless they can feel the value in their very own way. So this time, market junkie advised we see into…
Real business: A beat marketplace, were music producers can sell their beats to emerging artiste who wouldn’t want to reject the offer because we’ve decided to stay extreme with our pricing, giving every artistes a choice to succeed by making music production seamless and affordable as well as aiding music-producers monetize their beats faster and easier than any platform existing under the rock in Africa.
*smiles* here comes MAX, our clear revenue model, but what strategy would make us different, is it pricing, should we scrap music sharing and focus on something colourful?
Market junkie: Keep a diced price. Why the heck should you scrap music sharing? Keep it man… Let it serve as a competitive advantage that there are more artiste on the platform than the producers (something every producer wants to hear).
Here’s the point; we believe that by offering free uploads and featuring to emerging artiste they’ll in return take a turn to scale through our wide range of African beats and purchase or order a custom beat for a price they can’t find anywhere on the internet and offline for the quality we offer.
Then we hired a very good music-producer (hoping to hire more) and we’d be having him do most of the beats on the platform.
Our aim is to offer beats of high quality to music artiste by licensing it from top Nigerian and Africa producers in a price these guys will never try to offer beats even in their worst scenario of life.
That was a successful retry right? Here I go again, beats trackout are sold for N7,999 whilst .wav is followed with a more deduced number, N3,999 and we target Africa at large in terms of sales and hope to start accepting music-producers from other African countries as soon as a means of payment (in $) is figured out to them.
Then finally we re-launched again as a caketunes.com, formerly Musiccloud.com.ng
I trust, you don’t wanna say you don’t like my story. Over to you, what’s your point in this?