Filmplace is a marketplace (PaaS & SaaS) platform that helps film companies and filmmakers to secure film locations within a matter of hours or minutes instead of 4-7 days via the traditional method. We help to solve common industry problems faced globally. At the same time helping local community to earn additional source of revenue through untapped market.
We are currently in Public Beta 2.1. Till date, just purely through word-of-mouth, we have already generated over 1.2k members with 70% paying customers (Filmmakers/ Film companies/ Brands). Additionally, we have expanded to offices in Singapore (HQ), Malaysia, Taiwan, and we have a support office in India. By end of 2020, we plan to enter South Korea Market too as its also supported by the Korean Government.
2020 Jan - Launched Public Beta 2.0
2019 Jun - Launched Public Beta 1.0
As for traction, we have over 400 listed properties with us with over 30 actual bookings till dates.
Our customer segments are broken down into 2 groups. Hosts and Filmmakers.
1. Filmmakers/Film Companies
The immediate addressable market size is about $35 Billion which is spent annually for film locations.
Its an additional revenue stream which can be incorporated as part of their business plan similarly to how many AirBnB host actually buy out properties purely just to list out on AirBnB to lease out like a Hotel. We are building the same eco-system but with a high margin. On top of that, to promote spending from our Host, we will push our Host Ads Space solution to our Host (Similar to Google SEM) allowing the host to pay Filmplace via per click per tag to have their listing appear on the first page of the search result.
Problem or Opportunity
There's a common industry problems faced globally which is to secure the right film location at the lowest cost yet the quickest way. Unfortunately, securing a film location in the traditional way typically takes 4-7 days and cost 2-3x higher.
Solution (product or service)
Filmplace is like a AirBnB marketplace but is tailored to the film and media industry. With Filmplace, we are able to get everything done within an hour or even minutes while keeping price point to the lowest helping film companies save time, money, and resources. And lastly which is also the most important point, we act as a middle man to protect both the host (venue owner) and filmmakers from being scammed or cheated.
No direct competitors. We are the online end-to-end platform in Southeast Asia. There's however in-direct competitors which are events platform such as We are Space, peerspace.com, etc.
However, problem with these site is they only provide commercials properties. And filmmakers usually in 75% of the time, they will want a residential place which these platform do not have. So the only way for them to get a residential properties is to either get it from friend's network or posting it on social media, going door-to-door and ask, or hire a location manager (which is extremely expensive).
Advantages or differentiators
Our UPS is our data. By oct 2020, we will be launching our PRO Host service to all our existing host. PRO Host allows us to provide our existing host with lots of benefits such as free marketing, better exposure rate in our search engine, lower platform fee, and faster payout. In return, they will have to be exclusive to us. In another word, they will not be able to list their venue with other places for filming purpose. We expect a 30-50% of our host to convert to our PRO Host.
We build a strong eco-revenue structure allowing us to generate revenue fr om 6 routes.
1. Platform Fee (10% from Filmmakers / 12% from Venue Owner)
2. Customised location (For our enterprise client to get a do-it-for-you solution)
3. Host Ads Space (Similar to Google SEM wh ere host pay us to get their listing to be in the first page of our search engine)
4. Filmmaker Subscription (Filmmakers can subscription to our service to allow them to get in touch with our host in the quickest manner)
5. Third Party Partner's Fee
6. Franchising License Fee
- Our platform will generate income based on our platform fee, host ads space, filmmakers subscription and third party fee.
- Our customise location suited for our enterprise client and Franchising fee will fit our offline income structure.
The only risk we thought of is if the government were to step in to control film locations to be licensed. However, the chances are extremely slim and almost impossible unless the government wish to kill off its own media industry. With Filmplace, we help local community generate an untapped revenue which boost the country economy, and at the same time, we also encourage and allow filmmakers to film in other countries since we localised all the context and communication that happen in Filmplace. Again, this create another form of economy boom for the country.
Incubation/Acceleration programs accomplishment
2020 Aug - K-startup Accelerator Program (Organized by Korean Government) (To be completed in Dec 2020/Apr 2021)
2020 Jul - Selected to be part of Newchip Accelerator program in Texas (To be completed in Jan 2021)
Won the competition and other awards
2020 Aug - Selected by the Korean Government as the Top 60 Most Innovative Tech startup in 150 countries.
Trademark of Filmplace in Singapore Successful. Pending TM in other global market such as Korea, UK, Malaysia, USA.