Australia, Adelaide
Australian CSF Offer
Media
Transformation of The Arts, Music and Culture
Theatrix aims to be the leading streaming service for live performances globally.
It allows customers to access a wide range of performances from theatre productions to concerts - at the touch of a button on any digital device.
A myriad of content archives exist with recorded performances and shows that have not had the chance to be aired on existing streaming platforms.
Theatrix will unlock the potential of these performances, bringing them into your home.
The same way that streaming forever changed how people watch movies and TV shows, Theatrix aims to transform the viewing of arts, music and culture. Theatrix brings world-class titles and your favourite stars to one place.
Overcoming Barriers For Live Performance Viewing
The Problem
Live performance is inaccessible for many people. Many lovers of the arts living in rural communities have little or no accessibility to live performances.
The price of attending a live performance is also a hurdle for many. Tickets to arts, music and entertainment events can be expensive. COVID-19 is also still impacting decisions to attend live performances, with people electing to avoid attendance at populated events.
The Solution
Theatrix is a subscription video service dedicated to streaming live arts, music and entertainment. Theatrix fills a niche in the market as there is currently a need for a streaming service focused on live performance.
While other streaming services have substantial content libraries, they are largely concentrated on films and television shows with occasional stand-up comedy performances and event specials.
Positioning
Theatrix is already home to well-known titles and brands with more in the pipeline. Monthly subscriptions to access Theatrix start at just AU$7.99 per month.
Consumers subscribe to Theatrix because it delivers live performance content that is different from what other streaming services are offering. Furthermore, it will do so at an affordable price point.
Audiences are looking for new, diverse content in a rapidly growing video streaming market and much of the content that will be offered by Theatrix is not currently available through other streaming services, allowing the platform to attract ‘untapped’ audiences.
The first mover advantage, alongside exclusive content agreements, unique licensing structures will provide Theatrix with a significant competitive advantage.
Business Achievements
- Theatrix has raised over $135,000 from Angel Investors to develop the Theatrix Platform
- Theatrix was accepted into the AUSTRADE landing pads, in 2019, and Theatrix Founder, Jamie Harding, travelled, for six months to the globes-leading tech hubs in Tel Aviv, Berlin, London and New York and gathered major international partner traction
- Theatrix was accepted into SOSA New York’s incubator. SOSA works with innovation teams and business units in corporations (such as Sony, Warner Music and HP) and governments as they scout and validate startups and technologies.
- The Theatrix platform is live. We have monthly recurring subscribers, and partnerships with national and international brands and companies, including the Royal Ballet, Cirque Du Soleil, Royal Shakespeare Company and more!
- Theatrix has been able to secure multi-year offers with multiple content providers
- Theatrix is in the process of finalising a distribution agreement with Telstra, that will allow Theatrix to launch on Telstra TV.
- Theatrix was awarded $100,000 in September 2022 from the highly competitive Government of South Australia’s Research and Innovation Fund (RIF) and SEED Start Program (funding subject to successfully launching on Telstra TV).
- In 2019, Theatrix, tipped out 60 start-ups to win the 2019 Gold Envie with $47,000 in prizes.
The Market
The global Video on Demand (VoD) market was valued at USD 56.55 billion in 2019 and is expected to reach USD 120.91 billion by 2025 (Mordor Intelligence, 2020).
Almost 75% of Australians watched a subscription TV service (Roy Morgan, 2021). The average number of subscription TV services utilised by Australians jumped from 1.8 in late 2019 to 2.6 as of February of 2022 (PwC, 2022). This indicates that Australians are increasingly prepared to subscribe to multiple SVoD services.
Recent successes stories of arts streaming that are becoming more common place include:
The Met Live in HD series:
Began broadcasting live opera performances into movie theatres worldwide from the stage of the Met in 2006. Since then, it has generated more than US$400 million solely from the sale of nearly 20 million tickets (Fathom Events, 2019).
Hamilton The Musical:
Achieved a 74% increase in Disney+ App downloads (Variety, 2020) showing a huge pent up demand to watch theatre on screen.
Theatrix provides a broad range of content genres, and our target market is vast, given the demand across multiple customer segments.
Risks
Competition
Well-branded competing international streaming services would pose a risk if they re-focused and offered theatre and stage-based content.
Cost Increases
Suppliers such as content producers, or costs such as content licenses, may increase due to higher bargaining power on the suppliers’ side causing financial challenges.
Cyber Security Complications
A breach of the platform’s security through a cyber attack would create vulnerability to the platform's ability to function and/or safety of customer information.
Sourcing Key Staff
Theatrix's use of funds includes hiring further personnel. If Theatrix is unable to source key staff to meet requirements it may hinder Theatrix’s ability to scale.
Implementation
Theatrix could be subject to economic, political, regulatory and other risks arising from future international operations. Operating in international markets requires significant resources and management attention and risks mitigation that may be different from or incremental to those in Australia.
Commercial
An influx of low/mid-level streaming services on a local and international level could affect Theatrix’s market share.
Use of Funds
Theatrix has big plans in the coming years, with funds going towards taking advantage of the first mover position.
In particular, funds will be used towards:
- Brand awareness and marketing to further drive subscription numbers in AUS and NZ market
- Purchase of more titles (mix of exclusive and non-exclusive)
- Research and development to continue to improve user experience whilst extending our service to more internet-connected screens and set-top box providers globally
- Recruiting further team members
