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ToneStone
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== Market == '''96M potential users in the U.S. alone''' There has never been a better time to introduce a casual music creation platform. With our focus on Gen Z and millennials who are both music lovers and innate creators, we’ve observed a large market opportunity. * With approximately 67% of young adults listening to music daily and 71% of young adults using social media daily, we estimate our potential market size of Gen Z and Millennial users at anywhere from 68M to 96M. * We believe Gen Z is particularly ready for ToneStone—Gen Z’s top two favorite activities are video games and listening to music. A platform that appeals to both these passions has powerful potential within this population. * As we’ve already seen ToneStone receive interest outside of the US, we anticipate that our total market opportunity will increase significantly with international expansion. * The desire to be musically creative is widespread. 30% of adults surveyed will create music in their lifetime; the behavior exists, we’re just tapping into it. * This behavior is further proven by the strength of the global music production software market, which is expected to reach $12.1B by 2027. * There is also tremendous momentum in creation-as-entertainment experiences. As an example, Minecraft has 141M monthly active users and generated $415M in revenue in 2020.
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