human resource

ECHO™

Business Plan

Founded by:

Ethan Palisoc

Michael Saito

Ruben Echavarria

Monica Barajas

Qihang Chen

Part 1

Executive Summary

Echo is a music streaming company where individuals can listen to music or podcasts on the go and display their musical personalities for others to view. Individuals are able to design their user interface and write song descriptions for other users to see, displaying unique personalities for each individual. Echo was established for the world to connect through music, as users are allowed to express themselves through the music they listen to, while being able to listen to any songs wherever they go. Currently located in Los Angeles, Echo is available on most modern services such as MacOS, Windows, etc., and can be streamed throughout the Americas, most of Europe, Asia, and Africa, as well as Australia.

Company Description

Some of the problems Echo faces is competition with other companies such as Spotify and Apple Music. What makes Echo stand out compared to other streaming services is the customization users have on their interface. This gives a social aspect to this app, that allows users to express themselves beyond music. Based in Los Angeles, Echo touches base with many local artists that promote their music and the company itself. Echo also allows many upcoming artists the opportunity to display their music, while giving fans the chance to enjoy new art.

Market analysis

The global Music streaming company size was valued at USD 20.9 billion in 2029 and is expected to expand at a compound annual rate of 17.8% from 2020 to 2027. Growing adoption of digital platforms and rising adoption of smart devices is expected to positively impact industry growth over the forecast period. Music streaming includes platforms that allow users to listen to audio, podcasts, and watch music videos. Additionally, these platforms offer features such as song recommendation, automatic customization playlist and accessibility in apps and browsers which are also expected to gain end-user attention during the forecast period.

Organization & Management

Service or Product Line

Echo is an experience that gives users the option to fully customize the interface to their liking. Premium subscription grants access to the vass spectrum of artists without interruption and makes downloading music to their phone possible. They are also able to fully change the design theme and add GIF files to any location on the UI. This feature alone is something that attracts the young as they value the ability to personalize. The two leading streaming services are apple music and spotify. Currently, Echo offers the spectrum of artists to listen to, but more so, echo offers the personalization for the users.

Marketing and Sales

Marketing will include the tactic of using influencer’s social media pages. One approach to this is having them post a screenshot of how they personalized their UI. Much similar to how Spotify users share their “Wrapped” at the end of every year, posting their personalized UI’s will spark interest into our audience and lure them with the app being free of charge.

Funding Requests

Over the next five years, Echo will request fifty million dollars to create a successful business platform, as well as to create profitable shares for possible investors and shareholders. With the funds received, Echo plans to use its funds to pay the artists per stream they get. Echo will pay $0.0040 to an artist for every stream they receive. Other than paying artists, Echo will utilize these funds to pay salaries, as well as creating other marketing strategies for the company to become bigger. Once revenue increases, Echo will use this money to cover off debt.

Balance Sheet

Balance Sheet
Assets	2023	2022
Current Assets
Cash	3,500,000	1,747,000
Accounts Receivable	626,000	468,000
Prepaid Assets	74,000	47,000
Hedging Assets Current	11,000	12,000
Other Current Assets	161,000	92,000
Total Current Assets	4,372,000	2,366,000
Total Non-current Assets	2,798,000	3,960,000
Total Assets	7,170,000	6,326,000
Current Liabilities
Accounts Payable	534,000	434,000
Total Tax Payable	252,000	190,000
Accrued Expense	1,841,000	1,748,000
Current Provisions	22,000	20,000
Deferred Liabilities	458,000	380,000
Deferred Revenue	458,000	380,000
Other Current Liabilities	119,000	128,000
Total Non-Current Liabilities	1,825,000	621,000
Total Liabilities	5,509,000	3,901,000
Owners Equity
Common Stock	2,119,000	2,805,000
Additional Paid in Capital	4,746,000	4,583,000
Retained Earnings	-3,220,000	-3,290,000
Total Equity	3,645,000	4,098,000

Part 2

1. Echo offers a multitude of songs and podcasts published by creators from all around the world. Currently being headquartered in Los Angeles, we market our services to anybody interested in a streaming service that openly allows users to customize their own UI experience within the app. The primary line of the business is through marketing our premium subscription service which allows an entire multitude of access throughout the app such as downloading and playing the music with zero interruptions.

2. Echos’ current CEO, Scott Malkinson, is in his 2nd year serving under a 5 year tenure with the company. CFO Clyde Donovan is finishing his 4th year while also serving under a 5 year tenure for

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4. During the year 2021, sales have grown an average of 5% compared to sales last year. Competition has