Beta Byte: WatchMyBit

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WatchMyBitBeta Byte is a series underwritten by Bust Out Solutions for that early stage tech found somewhere between idea and traction.

What is the name of the company and/or product? Where is it found online?

WatchMyBit can be found at www.WatchMyBit.com

What problem does this solve?

How can actors, comedians, musicians and others who make online videos make more money while more directly connecting with fans? YouTube pays $6 to $60 for 10,000 views; Google keeps 60% or more of the ad revenue. WatchMyBit is an ad free, pay-per-view platform using bitcoin micro-payments (less than $1). We strengthen the creator-fan relationship by passing the vast majority of funds to the artist (at least 75%). Fans can now support artists more directly anywhere in the world. We enable many revenue generating models. 10,000 views on WatchMyBit at just 21 cents = over $1500 for the creator!

What is the full launch/release date planned?

We soft launched in July of 2015 and will be optimizing our mobile experience, adding PayPal micropayments, and direct embedding in the future. The platform has been recently redesigned. Many users are monetizing their videos right now; everything from simple cat videos, to a never before seen sitcom starring Jane Lynch and Danny Trejo.

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Who is on the team?

Doug Scribner CEO, 20 years video production, musician in the pay-to-play racket in LA, currently in the video conferencing space, early Bitcoin adopter.

Oliver Goretzki CTO, BS in Computer Science and a Masters in Software Engineering, video game philosopher with a special interest in game development and virtual reality.

Mark Hilgenberg CFO, 25 years Financial Advisor, comedy and commercials writer, he and Doug won a Pollie Award winning commercial.

What is the specific technology or combination of technologies is used? Is there any IP?

Bitcoin’s flexibility allows us to offer amazing features. For example, a creator can split payments to any number of co-creators, like all the members in the band or troupe–including crew, management and even charities; daily, not monthly, payout (eventually can be hourly); and being able to take payment from anywhere in the world and easily cash out to local currencies. The ability to charge 44 cents, 21 cents, as low as 9 cents opens completely different revenue models and streams for creators. There is no IP, but very few people know how to implement Bitcoin functionality the way we have.

What is the size/scope of your market and how will you scale?

Our market size is huge. Video streaming is on every mobile device and computer and now smart TVs. Our first target audience is Millennial aged super fans of YouTube shows like Jenna Marbles, and CollegeHumor, video game walkthrough personalities such as CaptainSparklez and other Content Creators. Super fans engage with the creators on a higher level and are more than willing to spend money on this connection and actively promote videos to others in return for premium video content. Scaling is as simple as adding more bandwidth through our enterprise level Content Delivery Network.

What is your revenue model?

We take 25% of every payment for each view.

What is your greatest strength?

Bitcoin

What is your biggest weakness?

Bitcoin

What is one resource you could use that would take this to the next level?

A PR firm to help us shape our existing marketing ideas and the funds to implement them.

Is there anything else you would like to add?

We have strong connections in Hollywood, one of our early minority stake holders is a writer/producer/director at Disney. We have also partnered with Domo Records who have offices in LA and Tokyo. We are the first movers in micropayment, pay-per-view video streaming and are the first platform offering a practical use of bitcoin micro-payments.

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