Executive Summary: Song Space

WordPress, it’s time to put a premium on storage space that rocks the blogosphere. As a premiere “free and priceless” blog and website maker,  you can make your pricey audio/video storage space  — not free today — affordable to a whole segment of fans and users by appealing to those who want to upload infinite amounts of songs and performance footage for a reasonable, set fee. The loyalty you’d engender would more than make up for the lost revenue from those skyhigh costs of $289 for 100 gigabytes of storage, or those low fees for a tiny 5-gigabyte bundle. A whole segment of the market would embrace you: musicians, producers, songwriters, and performers. By scaling back the cost to $50 for any amount of storage and enabling self-monitored control of storage expansion, the value in service you provide would multiply exponentially by the number of users likely to avail themselves of the offer. Invest in an inexpensive survey to existing users, to see how many would convert: those paying high fees now and those who want the added space at a minimal cost. Then enable user-controls, probably an MP3 player and video-uploading software, two technical advances that you could make in-house, and sit back and enjoy the dedicated revenue stream. And plan on introducing users in this new market to one another in an online library and watch the connections (and new customers) increase. Total cost to you: a few thousand dollars for a survey, the one-time cost of a dedicated team of technicians to devise and design the upgrade, and some minimal marketing. Ultimate value: priceless. And you might give YouTube a run for its money.

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