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Drag Me

Drag Me: Revolutionizing the Drag Performance Industry

Canada, Toronto
Market: Information and media, Entertainment, Other, Artificial Intelligence, Mobile applications
Stage of the project: Operating business

Date of last change: 12.12.2024
Min amount of loan
$  5.000
Estimated yield
12 % a year
Go to the owner's profile
2
Total required
$ 100.000
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Also this project:
- is looking for investment
 

Idea

The only platform built for drag, by drag. Fans get exclusive access to shows, merch, behind-the-scenes content, while queens get the tools to build their brand and connect with their audience.

Current Status

Notable achievements:
- 2,041 app downloads as of December 2, 2024
- 23,300 social media followers (Instagram & TikTok)
- 96+ partnerships with local drag artists across the U.S. and Canada, and growing...
--- Including a partnership with 4x Drag Race alum & 3x host of HBO's We're Here; Eureka O'Hara (macro influencer). Eureka will be on the new season of Canada vs the World 2, airing in the next few weeks globally. The last season of Drag Race averaged 840,420 U.S. viewers per episode.
- Over 40 years of product development experience within the leadership team

Market

Fans of Drag:
-Aged 18-49, interested in drag shows and artists
-Seek local and international drag performances
-May or may not identify as 2SLGBTQIA+, with disposable income

Drag Artists:
-Aged 18-60, aspiring to full-time drag careers
-Predominantly identify as 2SLGBTQIA+
-Seek more booking opportunities and fairer compensation

Young Women and Girls:
-Growing segment of drag fans, often cis-gender and straight
-Primarily engage with drag through TV shows
-Important to consider their distinct needs and potential impact on the community

Problem or Opportunity

The drag performance industry currently suffers from a fragmented ecosystem that hinders both fans and performers. Fans struggle to discover new talent and navigate local scenes, particularly when traveling, while many talented performers remain hidden gems due to limited visibility and cumbersome booking processes. This disconnect limits fan experiences and stifles the growth potential of numerous artists, especially those outside mainstream channels. We address this challenge by creating a centralized platform that connects fans & performers, fostering a thriving and inclusive drag community

Competitors

Currently, there are no direct competitors dedicated exclusively to the drag performance industry, positioning Drag Me as a first-mover in this market. While platforms like Eventbrite, Facebook Events, and TicketMaster exist, their focus is broad and not tailored specifically to drag culture. This lack of specialization means they do not fully address the unique needs and preferences of the drag community, creating a prime opportunity for Drag Me to dominate this lucrative market with a targeted, community-centric approach.

Advantages or differentiators

Our unique combination of features—effortless search and booking for fans, robust support and self-management tools for artists, and seamless event integration for venues—creates a vibrant ecosystem that supports the growth and sustainability of the drag performance industry.

Our platform caters to fans eager to explore diverse drag scenes. It empowers artists by reducing their dependency on traditional booking agents and enhancing their ability to reach and engage with their audience directly. Drag Me creates a win-win situation by addressing the specific pain points of fans and performers, fostering deeper community engagement and ensuring that all drag artists, regardless of fame, have an equal opportunity to succeed. This holistic approach and focus on user experience gives Drag Me a distinctive edge in its untapped market, making it an attractive investment opportunity now that the art form has hit the global mainstream.

Loan terms

36 months

Interest rate, %

11.5

Business model

Breakdown of the business model with multiple revenue options:

1. Subscriptions (SaaS) — multiple price points per “mode”
Helps us achieve a health MRR (monthly recurring revenue)
2. Bundled add-ons — premium features, like the AI personal drag assistant for “Artist mode” (TBD research)
Additional “upsell” revenue streams
3. Fee-for-service — on ticket and merch transactions, plus any payouts Artists initiate to their bank
Can scale with business; the more tickets/merch sold the more we make

Solution (product or service)

Drag Me is the solution to the fragmented drag performance industry. Our groundbreaking mobile app provides a centralized platform for fans to effortlessly discover and book drag shows, while empowering artists with the tools to manage their careers & reach wider audiences. This comprehensive solution streamlines the booking process, enhances community engagement, & fosters a thriving ecosystem for drag entertainment. By bridging the gap between local talent & internationally renowned performers, Drag Me is revolutionizing the way fans experience drag & artists connect with their audiences.

Team or Management

Risks

- Other players coming into the market
- Paid social media advertising is troublesome due to the (lack of) targeting of queer folks online
- Lack of events (data) without partner artists

Incubation/Acceleration programs accomplishment

Hive Founders, Accelerate Okanagan, Hmnty Cntrd, Firestarter by Firehood, Elevate+ Women, Communitech.

Won the competition and other awards

- Nominated for a Small Business BC Award
- Pitch competitions with Startupbrite, Firestarter, Angel Investors Durham

Invention/Patent

1. Patents filed for United States and Canada on the AI/ML recommendation engine
2. Copyrights for United States and Canada for design and code

We have applied for a patent against our AI/ML-powered recommendation engine. This engine is one-of-a-kind, and has required a lot of custom building and training. We have also successfully received a copyright for both the design and code for Drag Me. We will also patent any further innovative technology that the company creates.

Photos

Photo 1 - Drag Me: Revolutionizing the Drag Performance Industry
Photo 2 - Drag Me: Revolutionizing the Drag Performance Industry
Photo 3 - Drag Me: Revolutionizing the Drag Performance Industry

Product Video

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Idea
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Finance
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Loan terms
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Business model
Solution (product or service)
Team or Management
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Incubation/Acceleration programs accomplishment
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