What happened to tech-tuts?
It is ok.... from a design POV a forum is a forum if you have seen one then you have seen them all.
Couple of points that spring to mind:
1) Considering its new, it is well populated at the moment which is good
2) Music forums are very widespread - how do you plan on making this unique and stand out to attract members... I would try to find a unique selling point, a niece, to market the forum on.
3) I see you are offering competitions and prizes, how do you plan on making enough money to finance these?
4) Are competitions the way forwards?
For instance, one thing I would do would be to allow members to tie in posts with youtube (and such) videos. There are millions of music videos on youtube (be careful, some illegally on there) and linking into them would be very useful and nice. Maybe people could create their own "playlist" using these videos and such like.
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