MSM Corporation International Ltd (ASX: MSM) is based in San Francisco and has been trading on the ASX since January this year after raising $7 million as part of a reverse takeover. Shares were issued at 6 cents and are now trading near 30 cents, implying a market capitalisation of around $100 million.

MSM’s ‘Megastar Millionaire’ is looking to become the “world’s biggest online talent competition” in order to capitalise on the relentless demand for talent shows and the move away from television to mobile content viewing.

According to MSM, the platform “combines the structure of “Got Talent”, with the inclusive elements of Eurovision and the simple video sharing of YouTube, with full integration into Social media platforms to disrupt Talent competitions, Television & social video consumption as we know it.”

MSM cites a first mover advantage and no direct competition. It recently raised an additional $4.8 million with a view to expanding into Asia.

MSM has developed various strategic partnerships, including with ToneDen, a marketing platform currently used by 500,000 artists to connect with their fans.

It is currently running a closed beta test of 1,000 performers with a $10,000 prize. Contestants pay a fee to join the competition and fans can choose to pay to have access to premium options. Research performed for MSM suggests that a large proportion of its target demographic are willing to pay for these features.

A full launch is due next year with an initial focus on the US market and a prize of $1 million which is sure to attract publicity. Whether or not this translates into substantial revenue is uncertain. MSM is considering advertising strategies and future licencing opportunities for its software platform.

It seems clear that this kind of content will continue to move towards online distribution, however, there is no guarantee that MSM will be one of the companies that succeeds in profiting from this trend.

In my view, MSM is about as speculative as it gets, and shares are expensive given the level of uncertainty. I am happy to watch from the sidelines but will be interested to see how successful the major launch is next year.

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Motley Fool contributor Matthew Bugden has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.