Hello My Wine Society land!
Welcome to the first monthly newsletter we will be putting out in 2020 to highlight company happenings, new partnerships, company milestones and more! We hope that this helps keep you updated with all things MWS as our company continues to grow to new products, services and experiences.
Looking back, 2019 brought many challenges to My Wine Society, most of which landed in two areas: raising capital and going to our first revenue market in San Diego. We grew as an organization dramatically during the struggles we faced tackling both those challenges and overcame many hurdles, a lot of times with the help and guidance of our investor and advisory team, which I consider to be best in class!
Though we faced many challenges, as all young companies do, we also achieved some great things that prepared us to accelerate growth and success going forward. Here’s a highlight of some of those successes:
1. Launched our first revenue market in San Diego, proving out market acceptance and validating processes across multiple product lines. We also reached a revenue milestone of over $350,000 in top line revenue in just 4 months of operating.
2. We successfully built, planned and executed our pilot Blended Festival at Waterfront Park in San Diego which served as a benchmark event celebrating our initial launch and spiking user downloads and engagement on our app, as well as position ourselves as technology company with a live event division serving as the market differentiator. This division is expected to bring almost $4mm in top line revenue to the company in 2020.
3. We eclipsed 4,500 partner wineries listed on our app from 13 different countries, which accounts for about 10% of all wineries globally. We expect this number to scale dramatically in 2020.
4. As part of our continued evolution as a service provider to the global wine world and maintaining our footprint as a technology company, we built and launched our MWS Media Lab program. The team in this division install digital display board inside tasting rooms and wineries around the country and help wineries better communicate and engage with their consumers, track consumer behavior and preferences and accumulate data. This division is a massive growth arm for MWS and is projected to bring almost $3mm in top line revenue to the company in 2020.
5. We have officially hired a development team and opened an office in Manhattan! This is major move to help MWS evolve and scale our technology at our own pace, and place us in the center of the world as we seek bigger fundraising rounds and larger scale strategic partners!
We have attached division specific reports from each of our division leaders to help illustrate our plans for 2020 moving forward and keep you informed about upcoming events and milestones! Thanks for being a part of My Wine Society and I look forward to keeping you posted as MWS tackles our 3rd year of operation!
2019 featured several important milestones and significant breakthroughs within the wine community and beyond.
Blended Festival Milestones
Blended Festival has taken sharp action in the final months of 2019 and in the first week of 2020. All logistical timelines have been created to outline all efforts and budget allocations. Our marketing vendors include GDP Media, Business Nitrogen, and Twentyone PR. We have also identified our partner ticketing partner, Eventbrite, and targeted additional ticketing outlets such as Rush49, Goldstar and more. Charity partners are in discussion now to determine the most effective cause for our event. Our team is conducting bi-weekly calls with each department to identify our needs as a company and individually.
Our first festival will take place on June 13th, 2020 at Bodegas del Valle in the wine region of Valle de Guadalupe, Mexico. Hausa entertainment will be aiding in production, talent buying, sponsorship acquisition and in securing necessary relationships with venues, officials and local legal partners. We’ve already secured relationships with Jose Cuervo, CocaCola, and Blenders Eyewear.
Orange County will host our second festival at Huntington Beach Pier on June 27, 2020, and has recently undergone a site inspection in the process of finalizing agreements. Cinematic is the production company mediating these relationships locally.
In Chicago, Intersport is facilitating production for Blended with intent to secure North Avenue Beach on the third or fourth Saturday of July. Site inspections will commence in the last week of January.
San Diego will be hosting our final event of 2020 at Waterfront park on August 29. A partial deposit has already been paid to secure the location and site inspections will commence in the last week of January.
MWS Media Labs Milestones
Our media labs initiative is a tech program to involve wineries and urban tasting rooms with their customers by incorporating app functions and bringing the millennial revolution of technology to an aging industry. Wineries with kiosks placed will be united under the MWS umbrella gaining advertising opportunities on the devices, and opportunity to become involved in our SMS program, enabling them to maintain communication with their customers even after they leave their venue.
MWS has targeted regions across California and the United States and hope to install 400 kiosks by year-end 2020. We are working on securing a partnership with Priority Wine Pass, an app working with hundreds of wineries on the west coast, maintaining relationships and offering exposure through in-app offers for consumers. This partnership will allow us to further expand our reach as a company and for our media lab initiative.
My Wine Society has our first revenue coming in from our new product, My Wine Cam. We have seen a lot of traction from it so far as multiple people from all demographics have been using it. It will definitely be influential to our future success.
Blended Festival Sponsorship Partner Milestones
MWS has developed a completed list of sellable elements, pricing, Net Rev, etc. for each property to secure sponsor sales. We have recruited and brought on board a team of experienced live event sponsor sales to ensure success in sponsorships for 2020 after working closely with Intersport to updates decks and materials. Intersport has also made several introductions to potential festival partners in the Chicago market which has resulted in several meetings and strong leads toward some presenting level sponsors.
My Wine Society App Product Milestones
Since partnering with 10x ventures in New York City for app development and management, we’ve established a cadence with our designers to communicate weekly updates. We’ve scheduled our progress schedule for Q1 2020 to achieve our desired outcomes for app production. Basic Agency out of San Diego will be aiding in framing our initial app design to pave the way for 10x Ventures to optimally design our aesthetic and functionality.