TATA NEN Hottest Startups Awards - Kroomsa - Paras Chopra

Kroomsa | 2008

Paras Chopra | New Delhi | Media/ Entertainment
Nominated on Jul 30 2008 2:29PM | by NEN

Kroomsa - Snapshot

Fulfilling social responsibility through music

Business Basics

Company Name	Kroomsa
Founded in	2008
Headquartered in	New Delhi
Company website/URL	http://kroomsa.com/
Industry	Media/ Entertainment
Stage of the company	Have prototype
Source of idea	Discovered by chance
Partnerships & Tie-ups	-DogmaTone Records -Indian Music Revolution -Dhruva 2008

Business description

Kroomsa is an independent artists and bands music platform. On Kroomsa, the soundtracks, available for online streaming and download, are embedded with advertisements. The revenue will be generated on per-download and per-play basis and will be shared in a 40-40-20 manner: 40% to the artist/band, 40% to Kroomsa and 20% to an NGO of listener's choice.

How does the business make money?

Organizing Music Concerts, Releasing Music Albums and Audio Advertisements

Team information

Arun Bansal

Competition

Competitors	Tempstand.com, Muziboo.com, IndianMusicRevolution.com
How different is your product or service? It has...	Substitutes that differ in function
In what way is your product or service different?	Kroomsa fervently advocates social angle to all aspects of the business. We also have a revenue model, which promotes banks and not only gives them ex...> Read more..
In what way is your product or service different?	Kroomsa fervently advocates social angle to all aspects of the business. We also have a revenue model, which promotes banks and not only gives them exposure but also monetary gains, through sharing of ad' revenue. < Back

By The Numbers

	2006	2007
No. of employees	0-5	0-5
No. of customers	0-1	0-1
Turnover	pre revenue	pre revenue

Primary source of initial funding	Personal savings
Primary source of additional funding	Personal savings
Raised institutional capital?	No

Why is this startup hot?

Because it enables a one of its kind win-win ecosystem of all players involved. Listeners win because they enjoy fresh music legally. Bands enjoy because they get a share from revenues. Advertisers win because they get to advertise when a person's interest or attention is at peak. Community wins because they get a share of revenues. And, we, of course wi...> Read more..

< Back

What keeps the team awake at night?

The prospect of getting good bands, dedicated listeners and advertisers on the platform and tweaking the business model.

Entrepreneur's Details
Name		Paras Chopra
Age		21
Hometown		Delhi
Family background		First gen entrepreneur
More than 1 company?		Yes (3)
Education		Bachelors
Graduated from		Delhi College of Engineering
Former employer		N.A.
Former designation		N.A.
Area of responsibility		N.A.
Favorite book/movie		The Black Swan by Nasim Taleb

Voting Closed

Experts Comments

View experts' panel

“Parallels include the fairly unregulated nature, the opportunity to make (and lose!!) fortunes, the general preference for loose self-regulation (think John Wayne as a Sherriff) rather than an externally-imposed top-down policing structure...” > Read more..

There is a point of view that the Internet is the digital equivalent of the Old Wild West. Parallels include the fairly unregulated nature, the opportunity to make (and lose!!) fortunes, the general preference for loose self-regulation (think John Wayne as a Sherriff) rather than an externally-imposed top-down policing structure etc. Given the above, my assessment of this company/site focuses on the business premise rather than on the very laudable moralistic aspects underlying their idea e.g. providing a platform for new new/unknown musicians, financial contribution to NGO's etc. Comments:- (1) Given the wide availability of free music downloads on the Wild West (a.k.a the Internet), why would a general listener choose music creations (5 -10 seconds advertisement embedded) by unknown artistes whom he has not heard before? (2) Assuming that the above proves a real limitation to the reach of the site, where would the ad revenue come from? To be fair though, the Site does offer a 'per-play' and 'per-download' option that can perhaps remove some advertiser misgivings. (3) A query concerning their embedding technology. What if the user removes the advertisements? The site just calls it illegal ? perhaps forgetting that even the blatant illegality of pirated content has not deterred users till date. < Back

“The advantage is that , it provides an opportunity to listen to a fresh music available legally . The revenue share model promotes new music . ...” > Read more..

The advantage is that , it provides an opportunity to listen to a fresh music available legally . The revenue share model promotes new music . The key challenge : The company seems to be playing in a very niche market segment , since most customers might be interested in popular music and also the quality of independent bands in India is a question mark . Getting advertisement for this music might be another challenge. < Back

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