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HeavyMetal Praise Records
Market Analysis Summary
Heavy Metal music is the music of preference among boys and young men, ages 12-22, who are part of the skateboarding culture. Heavy Metal music generated $180 million dollars in sales last year.
Skateboarding has grown into an enormously popular recreational sport that generated 1/2 billion dollars in sales last year. Each year the base of skateboarder grows even larger. The sport is still enjoyed by young men in their thirties. In many cases, these older skateboarders still enjoy Heavy Metal music. This represents a huge market opportunity for Christian music.
Heavy Metal Praise Records will focus on two customer groups:
- Early teen skateboarder.
- Late teen skateboarder.
4.1 Market Segmentation
- Early Teen Skateboarders: This group has limited mobility to attend most Heavy Metal group performances. Yet they represent the largest consumer group of Heavy Metal music. Generally, this target group hears the music from friends, at skateboard parks and at skateboard shops.
- Late Teen Skateboarders: This group represents the strong fan base that comes out for live performances at local clubs. They are also exposed to the music at skateboard parks and skateboard shops. It is critical to build a secure fan base with this group in order to generate sales among the younger skate boarders.
|Year 1||Year 2||Year 3||Year 4||Year 5|
|Early Teen Skateboarders||10%||3,000,000||3,300,000||3,630,000||3,993,000||4,392,300||10.00%|
|Late Teen Skateboarders||10%||4,000,000||4,400,000||4,840,000||5,324,000||5,856,400||10.00%|