The social media market is a global market connecting over 1 Billion people on Facebook alone – add the likes of Weibo and other similar services and the total number is closer to 2 billion people. The revenues and ‘’ values’’ of Social Media companies are in the billions – tens of billions and growing.
Fantrac is across all of these services and will monetise even the free social media services by providing a single combined view for the fans and run its own advertising and value added services. Producing an efficient, interesting and value added service to the Fans and revenues to the Celebrities.
Some competition is beginning to emerge, such as Disciple Media, Fahlo, Mikz, My celebrity diary, Star club. Each offers an element of the Fantrac service and Disciple offers more the Fantrac Strategy but we are still a long way ahead of each. Disciple for example is focused on Music and does not offer micro purchases of value added services. Each competitor appears to be slow to evolve but we are not complacent and watching each one carefully. The market is large enough for several competitors , even if they all evolve to the provide the same range of services as Fantrac. However the number of businesses trying to enter the Fantrac market does support the premise that Fans will pay for exclusive access and content.