the five-year plan

Revenue from month one.
Five engines compounding.

year one is the investing year, modest by design. then five engines compound across three studio locations and an owned production slate.

$33M

year-five revenue

$20M

year-five ebitda

61%

year-five margin

$95M

5yr cumulative rev

~$8M

the build raise

$3M to $33M in five years

$ in millions	yr1	yr2	yr3	yr4	yr5
agency	2.07	5.61	9.26	12.95	16.66
studios (1-3 locations)	0.71	7.02	7.88	7.88	7.88
events / flagship	0.14	0.31	1.15	1.94	3.17
production	0.00	0.40	1.30	2.64	5.50
ownership circle dues	0.00	0.00	0.04	0.08	0.11
total revenue	2.92	13.34	19.65	25.49	33.33
total costs	(3.09)	(5.33)	(8.05)	(10.92)	(13.08)
ebitda	(0.17)	8.01	11.59	14.57	20.25
ebitda margin	—	60%	59%	57%	61%

the exit

creator-media and studio assets trade at roughly 8 to 12x ebitda. on year-four ebitda of $14.6m, that implies an enterprise value of roughly $115m to $175m, a viable exit window in years three to four. owned ip and the building are upside to that range.

the full working model / 60 months / private + confidential

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hot juice studios / private + confidential / not for distribution

Revenue from month one.Five engines compounding.

Revenue from month one.
Five engines compounding.