Quiz the Nation
A nationwide pub quiz, broadcast weekly on satellite TV and played using a specially-developed app.
Quiz the Nation is an interactive TV quiz based on the Krypton Factor and presented by Gordon Burns. Players buy playing tokens to enter and submit responses using the specially developed smartphone App. The App syncs with the broadcast using a technology called audio watermarking and allows players to compete against everyone else playing both locally and nationally for £1000s of prizes each week. We’re marketing the show as a pub quiz and have already registered more than 100 partner outlets.
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Broadcast weekly on a free-to-air satellite TV channel, Quiz the Nation is a cross between Who Wants to be a Millionaire? and the Krypton Factor. There are 5 rounds in each quiz, testing a range of skills from general knowledge to mental agility, speed of thought and powers of observation. Questions come through the TV, multiple choice options appear on the App and players have 8 seconds to submit their response. In the event of a tie, quiz positions are determined by speed of response, which means that cheating is no longer an option. The App allows players to compete nationally for £1000s of prizes and also locally against everyone else playing in the same venue as them.
Quiz the Nation can be played anywhere with access to satellite TV (Sky or Freesat) and a half-decent data connection, but it makes sense to market it as a pub quiz for a number of reasons. People are already familiar with and fond of playing quizzes in pubs. The pubs will cultivate the element of local competition necessary to keep players engaged week after week. And it will be easier to build an audience by recruiting pubs of 20 players than individuals playing at home. We’re making it free for pubs to begin with, but might introduce a registration fee in due course. A 4-week pilot run in 3 pubs proved that, when hosted well, the show increases both footfall and revenue dramatically.
Initially, potential revenue will be generated by players buying playing tokens. It costs 2 tokens to play Quiz the Nation and 4 optional spot prizes in each quiz provide an opportunity to spend a further 4 tokens if the player wishes. Tokens cost between 70p and £1.49, so it costs about £2 to play the quiz. We could surpass our revenue targets with quiz entry fees alone, but other sources of revenue might prove much greater.As the audience grows, revenue generated through sponsorship of the programme, sale of advertising space and sale of data might ultimately dwarf other sources. For the sake of conservatism, none of this potential additional revenue is included in the financial forecasts.
When Quiz the Nation is played in 1200 pubs, holding an average of 20 players spending an average of £3 per quiz, we will potentially generate revenues of £3 million and EBITDA of £1.4 million.The financial projections see us hitting these figures in year 3, at which point the most likely exit would be a trade sale, either to a TV production company like Sky or, relevant consumer goods company – Diageo. We are already in discussions with both of these businesses, the latter about show sponsorship. A multiple of 10 ten times earnings to account for the further potential for scale could produce a valuation in the region of £12 million, returning investors ten times their money after 3 years.