A U G U S T 2 3 , 2 0 1 5

LOKI Morgan Wright MEDIA ENTREPRENUERSHIP

LOKI  

08  Fall  

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Table of Contents

EXECUTIVE SUMMARY 3

COMPANY DESCRIPTION 4

INDUSTRY ANALYSIS AND TRENDS 5

TARGET MARKET ANALYSIS 7

THE COMPETITION 8

MARKETING PLAN AND SALES STRATEGY 9

OPERATIONS AND MANAGEMENT 10

FINANCIALS 11

APPENDIX 12

                                                 

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Executive Summary This  section  expresses  what  we  stand  for  and  who  we  are.  Our  mission  is  clearly  stated  and  we’re  here  to  benefit  an  industry  that  we  feel  is  lacking  in  some  major  ways.  Our  goal  is  to  revitalize  the  industry  for  local  reporters  and  newsrooms  to  never  have  to  struggle  again.  This  reports  sums  up  our  intent  to  succeed  in  the  industry.  It  features  in-­‐depth  looks  at  our  branding,  marketing,  target  consumers,  trends,  operations  and  management,  competition,  and  our  finances.  Every  aspect  of  our  business  is  highlighted  and  transparent  for  you  to  see  how  we  function  and  operate.      “Loki”      Loki  is  a  news  aggregate  app  specified  for  reporters  and  news  industry  media  people  to  be  on  top  of  everything  in  “their”  respective  local  markets.  Want  to  be  ahead  of  the  game  in  the  local  market?  Assignment  editors  are  great  but  what  if  you  could  capture  the  story  before  anyone  else?  Without  having  to  rely  on  a  person  aggregating  a  story  or  struggling  to  enterprise  a  story,  our  sources  located  in  various  cities  will  constantly  be  on  the  grind  to  find  stories  before  they  actually  happen.  Also  we  will  cover  the  most  up-­‐to-­‐date  breaking  news.  The  app  will  allow  users  to  have  the  chance  to  have  a  story  before  anyone  else.  News  aggregate  app  for  local  news  markets,  will  allow  any  newsroom  to  succeed.                                                    

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Company Description This  section  takes  an  in-­‐depth  look  at  the  branding  of  the  company  “what  we’re  all  about.”  We’re  about  making  the  news  industry  a  little  less  stressful  on  local  markets.  Providing  them  with  the  information  they  need  to  succeed  and  surpass  their  competition.      “Loki,”  located  in  Washington,  D.C.,  news  aggregate  app  for  local  news  markets,  will  allow  any  newsroom  to  succeed.    Mission  -­‐  Loki  is  a  news  aggregate  app  specified  for  reporters  and  news  industry  media  people  to  be  on  top  of  everything  in  “their”  respective  local  markets.  Want  to  be  ahead  of  the  game  in  the  local  market?  Assignment  editors  are  great  but  what  if  you  could  capture  the  story  before  anyone  else?  Without  having  to  rely  on  a  person  aggregating  a  story  or  struggling  to  enterprise  a  story,  our  sources  located  in  various  cities  will  constantly  be  on  the  grind  to  find  stories  before  they  actually  happen.                                                  

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Industry Analysis and Trends This  section  highlights  the  trends  and  analyzes  the  current  state  of  the  news  industry.  It  takes  a  look  at  who  will  benefit  from  this  product,  and  who  we  intend  this  product  being  for.        Who?  

• Customers:  Reporters,  Anchors,  News  Media,  Sales,  News  Organizations  and  Networks  

• Strategic  Alliances:  News  Organizations  • Advisors:  Industry  professionals,  News  Editors  (providing  information  for  

what  they  want  what  kind  of  news  they’re  looking  for),  Confidential  Sources  for  our  beats.  

 Industry Analysis and Trends – The industry my business plan is in is the news industry. News can be defined as – newly received or noteworthy information, especially about recent or important events. That’s exactly where “Loki” comes into play. The business plan is identified and recognized as news aggregate app specifically aimed at local news markets to make their news development and daily broadcasts better and take it to another level of greatness. Industry Overview – The industry is achieving and experiencing great success. There is a constant need for the news and to keep people updated and informed. It doesn’t matter the device or platform – the news is evolving. News is delivered through apps, email subscriptions, search engines, television, print, and social media. Every form of media – the news seems to adapt with and continue the trend of being relevant and needed.  

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MOST  AMERICANS  USE  MANY  MEDIA  DEVICES  FOR  NEWS                                                

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Target Market Analysis This  section  takes  a  very  in-­‐depth  look  at  the  market  we’re  intended  to  benefit.  The  market  is  very  large;  seeing  as  the  news  affects  everyone.  However,  given  our  stance  and  business  this  plan  this  product  will  be  focused  on  reporters,  assignment  editors,  news  editors,  and  organizations  alike  –  all  for  the  betterment  of  the  news  in  respective  markets.        The  market  is  the  general  public  of  local  networks  –  they  will  benefit  from  all  the  app  has  to  offer  reporters,  news  editors,  assignment  editors  and  so  on.  The  app  is  specifically  aimed  to  reporters  and  people  in  the  industry  already.  It’s  not  available  to  the  general  public  –  yet  they  will  be  the  ones  who  benefit  once  the  news  is  delivered  and  presented  from  a  more  well  informed  reporter  –  who  is  reporting  on  a  better,  more  breaking  story.      Market  Description  –  The  business  will  be  marketed  towards  the  east  coast  of  the  United  States.  Small  towns,  capitals,  we’re  staying  local  but  with  a  broad  approach.    Market  Size  and  Trends  –  According  to  the  American  Press  Institute  most  Americans  consume  the  news  all  throughout  the  day.  There’s  a  vital  need  to  keep  the  public  informed  as  they  crave,  need  it  to  survive  and  stay  abreast  of  everything  happening  in  the  world.    For  many  Americans,  keeping  up  with  the  news  is  an  activity  that  occurs  throughout  the  day  and  across  different  formats,  devices,  and  technologies.  When  asked  when  they  prefer  to  watch,  read,  or  hear  news,  a  plurality  (33  percent)  report  following  the  news  all  throughout  the  day.  A  smaller  but  sizable  number  of  Americans  continue  to  prefer  to  follow  the  news  in  the  morning  (24  percent)  and  in  the  evening  (26  percent),  while  still  lesser  numbers  say  they  most  often  get  news  in  the  afternoon  (4  percent)  and  right  before  bed  (9  percent).  (AMERICAN  PRESS  INSTITUTE,  2014).    Target  Customers  –  My  customers  are  newsrooms  across  local  networks,  reporters,  assignment  editors,  news  editors;  this  app  is  specifically  for  the  development  of  the  news.  It’s  the  key  to  providing  people  working  in  the  field  with  the  resources  needed  to  successfully  tell  the  news  and  be  ahead  of  the  competition.                          

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The Competition This  section  highlights  who  some  our  competitors  are.  Companies  who  are  in  the  same  realm  of  what  we’re  doing.  We  set  ourselves  apart  from  the  competition  through  specifically  working  with  industry  professionals  and  not  the  general  public’s  use  –  which  is  what  our  competitors  strive  to  do.  They  strive  to  keep  the  public  informed  –  when  we  strive  to  keep  the  industry  professionals  abreast  and  informed  of  the  most  current  and  breaking  news  in  local  markets.      The  competition  is  tough.  There  are  various  other  news  aggregate  apps  –  although  they  don’t  operate  the  same  as  we  do,  they  source  from  the  paper,  and  press  releases…  they  still  pose  a  threat.  They’re  a  threat  in  the  sense  that  they  may  have  a  story  before  us.  We  don’t  want  to  be  second,  we  are  aiming  to  be  number  one  and  lead  our  competition  in  everything  we  produce  for  reporters,  and  newsrooms.      •Competitors  –  AP,  Feedly,  Buzzfeed  News,  Google  News.      •Each  of  the  competitors  offers  the  same  exact  thing.  They  are  news  aggregate  apps  geared  towards  the  people,  and  the  public  wanting  to  retrieve  their  news.  We  are  an  app  aimed  at  reporters  who  are  looking  to  tell  the  news.  Tell  the  most  breaking  news  and  be  leading  anyone  and  everyone  in  their  local  markets.                                                  

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Marketing Plan and Sales Strategy The  marketing  plan  is  laid  out  in  this  section  –  highlighting  our  intent  of  how  we  plan  to  effectively  market  our  business.  Through  the  various  efforts  of  social  media,  affiliate  marketing,  and  public  relations  we  intend  on  taking  our  business  to  the  next  level.      The  opportunity  my  business  plan  has  in  the  market  is  offering  a  new  service  to  local  networks.  It  will  allow  reporters,  news  editors,  assignment  editors  to  better  tell  the  news.  The  app  is  specifically  aimed  at  news  aggregating  in  the  local  market.  Subscribers  will  allow  succeed  to  becoming  the  leading  news  organization  –  having  the  news  before  anyone  else.  Aggregating  specifically  for  your  newsroom.  There’s  a  strong  market  need  for  this  in  the  local  network  –  as  every  news  organization  on  the  local  market  follows  the  newspaper.  It’s  time  to  put  an  end  to  that.    Market  Readiness  –  Reporters  we  have  spoken  to  are  fed  up  in  their  respective  newsrooms.  They’re  tired  of  being  behind  the  pitch.  They  want  to  be  at  the  forefront  enterprising  ideas  and  making  stories  come  to  life.  This  is  their  ticket!    Affiliate  Marketing:  Through  affiliate  marketing  efforts  will  be  focused  on  our  newsroom,  reporters,  and  assignment  editors,  all-­‐bringing  in  clientele  to  our  app.  We  pursue  them  as  our  main  source  of  marketing.  The  television  stations  we  work  with  will  in  return  receive  compensation.      Public  Relations:  Through  the  implementation  of  a  PR  firm  actively  pursuing  our  product.  Our  app  will  be  pushed  out  to  various  people,  networks,  and  organizations  to  further  market  our  business.  Whether  it’s  through  a  press  release,  in  person  interviews  for  various  platforms,  or  webisodes.  The  PR  focus  will  primarily  be  effectively  marketing  our  brand  to  the  public.      Social  Media/Viral  Marketing:  We  will  produce  a  series  of  webisodes  and  viral  content  consciously  focused  on  how  our  product  will  benefit  the  consumer  inside  the  newsroom.  We  will  implement  this  marketing  tactic  on  various  social  media  sites  and  apps  to  take  advantage  of  where  society  spends  most  of  it’s  time  today…  on  their  phones,  computers,  tablets,  technology  is  huge,  and  so  is  social  media  –  we  plan  to  capitalize  upon  that!  We  will  be  using  Pay  Per  Click  ads  via  their  platform,  daily  marketing  budgeting,  etc.                    

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Operations and Management This  section  highlights  the  daily  operations  and  management  that  happens  on  the  daily  grind  of  our  days.    It  lays  role  and  positions  out  to  be  very  transparent  of  how  we  operate  and  function.        Legal  Status  and  Ownership  –  The  business  is  a  partnership  between  me  (Morgan  Wright)  and  my  wife  co-­‐owner  Britta  Wright.      Operations  and  Management  –  I  will  oversee  the  daily  operation.  Shadowing  and  supervising  along  with  my  partner  –  interns’  workloads.  Making  sure  we’re  making  beat  calls,  ahead  of  the  news  today  –  and  already  thinking  about  the  future  news  stories.    Management  -­‐  I  will  oversee  the  daily  operation…  Shadowing  and  supervising  along  with  my  partner  –  interns’  workloads,  making  sure  we’re  making  beat  calls,  ahead  of  the  news  today  –  and  already  thinking  about  the  future  news  stories.    Key  Employees  –  My  co-­‐owner  and  wife  Britta  will  handle  financing  and  budgeting.  Our  staff  of  interns  and  developers  is  the  key  ingredients  as  they  put  in  the  hard  work  and  man-­‐hours  to  accomplish  all  that  we  need  to  get  done  in  a  days  worth  of  work.      Key  Advisors  -­‐  Industry  professionals,  News  Editors  (providing  information  for  what  they  want  what  kind  of  news  they’re  looking  for),  Confidential  Sources  for  our  beats.    Management  Structure  –    

• Morgan & Britta Wright (Co-Owners) • Conor Hesse (Chief Developer) • Mychael Wright (Advisor) • Matt Keller (Daily Operations Intern) • Chelsea Hayas (Daily Operations Intern) • Sarah Schofield (Daily Operations Intern) • Jay Cox (Daily Operations Intern)

                 

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Financials This  section  is  the  most  transparent  section  of  them  all.  This  shows  you  the  costs  needed  to  survive.  This  is  our  financial  breakdown  for  what  we’re  investing  to  build  our  business.  We  avoided  costs  of  facility  by  working  out  of  a  business  incubator  in  D.C.,  which  has  helped  us  greatly.  As  you  notice  we  are  very  financially  responsible.      

     

             

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Appendix HOW  AMERICANS  GET  THEIR  NEWS  -­‐  AMERICAN  PRESS  INSTITUTE.  (2014,  MARCH  17).  RETRIEVED  AUGUST  11,  2015.