Creative Keynote: Building Moshi Monsters to 50 million registered users
#tcmc Sanjay d’Humieres attends the Creative Keynote….. Introduced By:Marc Goodchild, Consultant, FreelanceSpeaker:Michael Acton Smith, CEO, Mind CandyProduced by:Becky Palmer, Senior Digital Consultant, Freelance How amazing must it be to come back home after a hard day at school and to be finally reunited with your favourite friends in a completely virtual world! Well it is now a very real possibility and one that over 50 million children have now explored. Michael Acton Smith CEO of Mind Candy, the company behind the all time hit sensation Moshi Monsters, explained the concept behind his site for under 13s. The concept of the site involves adopting a monster and customising it in a safe virtual environment where education and fun are mashed up in one with fun tasks and challenges for children to complete. And all this for a fiver a month. However, Michael’s company faced up hill struggles before tasting the sweet rewards of its perseverance. Launched over 7 years ago, Mind Candy received its initial funds from investors eager to see their returns on investments. After failed attempts and no salary to take due to shortage of cash, Michael was saved by a hedge fund manager who saw the potential of Moshi Monsters as a great tool to engage with children. His kids loved it so much it was even a mission to get them to switch off the computer! Moshi Monsters however was not bringing in the revenues needed to make it sustainable and Michael drastically changed how his site was to make money and decided to go for a ‘freemium’ service which opened the doors to his monster world to many children across the globe.
- His adventure taught him three key things about business and the internet:
- Don’t be afraid to fail BUT make sure you fail fast!
- Do not blindly follow the market leader! Do what you believe in and stick to your guns.
- Think big! Don’t be shy the net offers endless opportunities
He also reminded the audience key facts about children and what drove him to create Moshi: They are extremely creative, they love socialising and communicating and they watch a lot of videos/television Without forgetting that the platform of the future for children’s content is online!