Tell us about MyPremo.
MyPremo is a content monetisation platform where recording artists and other content creators can sell their works directly to their followers and fans. This direct-to-consumer business model is a gamechanger for an industry where artists are on their knees financially and earning less than ever before thanks to steaming platforms like Spotify.
The creator economy is valued at over 250 Billion US Dollars today and will be over 500 Billion US Dollars before 2030 – we believe MyPremo is positioned to capture a large chunk of that. This is especially because of our just announced influential business partner. Ice Cube was a founding member of legendary rap group NWA alongside his good friends Eazy E, Dj Yella, Mc Ren and Dr Dre. And when it comes to successful entrepreneurs, who can forget Dr Dre selling Beats and Beats music to Apple for 3 Billion US dollars. The music industry is gearing up for a major shift and we believe MyPremo can be the next big tech startup with a similar trajectory of success. Major labels are laying off staff and artists from their roster and the next 5 years will prove how important a direct-to-consumer focus for signed and independent artists is. MyPremo is focused on creating the easiest possible tools that allow artists to go direct to consumers selling any form of content ranging from music, video, and live streams to merchandise and more in just a few taps. Our mission is to change the mindset of existing and aspiring artists by providing them with the tools so they can sell directly to their fans. MyPremo they don’t have to get sucked into the system of music labels and streaming, where ‘going viral’ is one of the only ways to success. Instead, growing your base of superfans provides the clearest pathway to success for any artist. We are currently raising capital for Mypremo via Birchal Equity Crowdfunding (https://www.birchal.com/company/mypremo ) that will help us get to the next level. I think of this raise in the same light as being an early ivestor in Beats or Spotify – that’s how lucrative this business model can quickly become.
What inspired you to start MyPremo?
Seeing the pain our friends go through being young and independent artists. They have all the talent in the world, spend thousands of dollars a year making their music to feed a system that simply isn’t built to support them.
How did you connect with Ice Cube, to bring it to life?
I (Cody McDowell) was in LA at the time talking to another musician about MyPremo and someone from Ice Cube’s team was in the room and overheard what we were talking about. He asked if I could repeat what I had said previously, and he then proceeded to say that he thinks Ice Cube would like this and if he could present it to him. Two months went by, I was back in Perth at this time, and we got a phone call that Ice Cube wanted to meet us, and he invited us to Vegas. Within a few days we were back in Vegas pitching Ice Cube on the side of a basketball court and he liked what we had to say. He then put his number in my phone to stay in touch. Over the next 6 months we built a relationship, working back and forth to get the platform and business in a position where he was completely comfortable putting his name behind it, then we got a phone call from Cube to say, “let’s do this!”. We worked out a deal that worked for both of us and before we knew it, Cube had backed us, and we were in business together. Since then, Cube has worked with us navigating the complexities of the music business, opening his network to us and planning the role out of not only his content on the platform and how this case study will drive awareness for MyPremo globally, but also the strategic rollout of the entire platform into our two other focus industries being Film and Sport.
Tell us about your career and background.
I finished high school and started a construction business with Dad. Growing this from Dad and I to 60 full time employees made me learn very quickly what it takes to grow and manage a team to create a successful and profitable business. During this same 10-year period, I have had numerous tech startups fail, with the main reason being my focus was still on the family business. 2 years ago, I stepped away from the family business to focus full time on MyPremo and haven’t looked back since. Taking those learnings into my new venture along with the importance of relationship building has been the key to our early success. I am also a director and owner of the largest all original digital radio platform called LITT Live (Formerly DASH Radio) and this provides MyPremo with unlimited industry access.
Describe a typical workday for you.
I wake up at around 7:30am. The first thing I do is check all the notifications overnight from the USA team and get to work with them in the final hours of their workday or hop on any US based zoom calls. From 10am to around lunch time I am getting back to as many emails as possible. Between lunch time and 5pm I try to schedule all of my in person or Australian based meetings. From 5pm to 8pm I try to get some time with my fiancé Katy and have dinner with her. After 8pm you can find me back at my laptop until I’m around 1am doing my more creative thinking/work. My most creative and productive hours are between 9pm and midnight. I also use late evenings for any early morning USA team calls or client meetings as well.
What advice do you have for those wanting to start a business?
Understand quickly what type of business you are trying to start and why. A Lot of people think they want to start a high growth business but in fact want a lifestyle business. So, if it’s a high growth business you are trying to build, realise it will take longer, need more work than you can ever imagine and don’t expect anything in return for a long time. Relationships will be key in any industry your business operates in. You will need a world class team so make sure you are personable and can relay your vision clearly to grow the best team possible to execute on this vision.
What’s next for you, and MyPremo?
Growth. growth. growth! The next 24 months is full steam ahead acquiring large scale creators and driving revenue. We will be entering the film and sport sectors and have some big-time announcements coming very soon with new partners in these industries. In the background our tech team will be constantly working with creators to develop the tools that align with any market shifts to stay ahead of the curve, whilst our cyber security team will be hard at work protecting our creators and the growth of the platform.
