Solo

Solo is a hands free video production headset simplifying the creation of high quality content for YouTubers, online content creators, and small businesses.

/market size

Today, there are 185 million YouTube users in the US and 1.9 billion worldwide. Both domestically and internationally, YouTube user population grew at an average of 10% annually for the past 3 years and is expected to consistently grow in 2019. 

/addressable market size

There are 15 million YouTubers/Vloggers in the US and 50 million worldwide who feed content to viewers by documenting and sharing content to create views and subscribers to build a channel of income.  

/problem

However, video production is expensive, complicated, and time-consuming. People are required to purchase and setup different equipment, and control them during production.

/expensive

Consistently producing high quality content for individual producers require different talents/crew, and video production system range from $800-3,000 to purchase. 

/complicated

Audio, lighting and composition is key to creating high quality content, however, maneuvering equipment and changing environment/setting is challenging.

/time consuming

Production and post-production takes a long time. Creating a 5 minute long video clip takes up to a week of post production.

/opportunity to create something different

There is an opportunity to build a different video production system that allows creators/producers to focus on what he/she is doing, be spontaneous, and efficiently and consistently produce high quality content.

/focus on what you're doing

/be spontaneous

/produce high quality content

 

Human-centered design approach to understand and uncover insights and design opportunities

Qualitative and ethnographic research methodology used to understand the values, concerns and desires of addressable customers to gain insights and opportunities for the idea and concept. Interview sample size was 24 individuals.

"I want to be in the moment and take my viewers with me but dealing with the equipment takes me away from doing that."

/austin patry

Dallas based entrepreneur/founder/vlogger on YouTube and Instagram who shares 2-3 minutes long videos covering stories behind entrepreneurs, startups, companies and cryptocurrencies.

YouTube /1K subscribers

Instagram /11.8K followers

"I do this to build my brand and online presence to tell people what I do and enjoy" 

/yoyo wu

Los Angeles based UCLA student/vlogger on YouTube and Instagram who shares content around traveling and destinations around the world.

YouTube /2K subscribers

Instagram /2K followers

"I make vlogs to document and share my travels and share my experiences." 

/guns lee

Seoul based video producer/vlogger on YouTube and Instagram who shares content around music and daily routines of artists and musicians.

 

YouTube /43K subscribers

Instagram /2K followers

"I host my channel, DDR to share comical daily routines of a rapper, Don Mills."   

solo_tradeoff.jpg

/trade-off exercise

"Imagine your life 5 years in future."

/image pile sort

"Organize and categorize the images and talk to me."

Discovering insights that lead to design opportunities

Forming diagrams and gathering findings and finding patterns and common themes by answering ethnographic questions to understand user's value criteria, experience journey, and challenges.

solo_postit2.jpg

Trends that lead to viable opportunities 

Observing and studying trends/changes in quantity and frequency over a period of time to understand the overall scope of global landscape that lead to viable design/business opportunities.

Forecasting what the future might be like

Forecasting and making educated guesses on what might happen in the future when trends becomes a common thing in people's daily lives and creating future scenarios to predict what might happen 5 years later, 10 years later and 15.

/experience and product offering

We would need to release and offer 3 products to producers to allow experiences visualized above. 

/headset

First person view hands free video production headset that allows producers to be in the moment.

 

/mobile dock

Versatile mobile dock that allows producers to view the real time monitor and get full control of the production.

 

/software

Software application for producers to get a clear overview of all content and quickly export them to main post production station.

 

/plenoptic camera lens

16 lenses,

always in focus.

/applicable market size

Something like this could not only be useful for YouTubers/Vloggers who wants to create content from first person view, but, anyone. In 2017, $1.9 billion worth of goods were sold in the camera/imaging industry. If we are able to grasp 1% of that market, we would be able to create a sales of $19 million USD.

/roll-out plan

/round1

Invest heavily in software

Create competition barrier

Rapid production

1,000 units (COGS: $83.55/unit/distribute to influencers, channels and retailers.

Build co-development partnership with influencers

Test, develop, expose, build public attention

Leverage influencers to attract

pre-orders and validate

5,000 units

Mass production

 10,000 units (COGS: $67.96/unit)

/round2

Mass produce

60,000 units (COGS: $45.43/unit)

Test Chinese market

10,000 units/ TikTok users, freelancers, and individual models and small business on online retail platforms (Taobao, JD, Tmall). 

/round3

Release smart lamp 

Expand into Live production.

Enter Live production market

When 5G is implemented in market, battery technology allows 3-5hrs of streaming

/product strategy

/business strategy

Get to the market ASAP

There is nothing like Solo in the market today. However, global market is very competitive and hardware product development process have become fast-paced and short. The Solo product solution is only assembly-patent-able; which is not fully protectable.Anybody could enter the market with similar product function and configuration; it is a sprint to the market and leaving an imprint experience to consumers.

Invest heavily into software

Software is critical and competitive advantage to the business. Plenoptic/light field technology requires producers to post edit and refine focus points in recorded footages. By developing a software that allows producers to seamlessly, efficiently, and effectively post edit clips, we could create a barrier for other hardware companies to enter our marketspace.

Build co-development team

Today, online influencers have a direct channel to millions of loyal customers. Building co-development groups of online influencers and customers to test and validate demand/experience to reduce risk, and leverage during product execution is a major key to access customers base and cut cost.

/product differentiation

Image stability and versatility

Direct, indirect and potential competitors in the first person video production system market are Snapchat, GoPro and DJI. Given competitor's strengths and weaknesses, the major production differentiation is through image stability and versatility of production setting.

/market segmentation

Tutorial and knowledge

With competitors taking market shares in entertainment and outdoor segments, Solo in positioned in the tutorial and educational segment to initiate/specialize in blue ocean market for first person view video production.

/value proposition

Pin. Ease of post production

For higher quality and professional video production systems, brands provide their own semi post production software. However, transferring content/format from one software to another is not efficient nor effective. Pin function could be applied during production to make production and post-production more connected and seamless.

/investment pitch

"Solo is expected to make a profit of $2.1 million after a successful launch of round 1. We ask for an investment of $1.5 million in return of $100,000 in the period of 24 months and 3% of our equity for you to be part of our future journey.

 

/cost analysis

/COGS of 1 unit in 1,000 unit batch

  headset + dock

/COGS of 1 unit in 10,000 unit batch

  headset + dock

/labor cost for producing 10,000 unit batch

  headset + dock

/income statement for 10,000 unit batch

  headset + dock

/required investment for round1

  headset + dock

/COGS for 1 unit in 60,000 unit batch in round2 

  headset + dock

All Works © Joshua Han 2019