Cornwall's 105 to 107 Itchy FM - Ofcom Licensing
Cornwall's 105 to 107 Itchy FM - Ofcom Licensing
Cornwall's 105 to 107 Itchy FM - Ofcom Licensing
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Station’s link with Inves<strong>to</strong>r strategy<br />
Inves<strong>to</strong>r strategy summary<br />
Interactive Media Developments Ltd (IMD Group)<br />
IMD Group was incorporated in February 2004, as the parent company for a range of advertiser-funded<br />
proven youth media channels. It raised six figure equity investment in July from very strong private<br />
inves<strong>to</strong>rs including Tim Schoonmaker, and has since gone on <strong>to</strong> acquire or develop a number of market<br />
leading youth media or marketing channels. It has drawn <strong>to</strong>gether years of youth communications<br />
experience and an unusual mix of skillsets giving the company a unique breadth of knowledge. IMD is<br />
able <strong>to</strong> use its client expertise and understanding of the youth market <strong>to</strong> reduce the risks associated<br />
with its commercial and corporate innovation.<br />
IMD Group believes in communicating with a youth audience in a multi-channel manner. This may be<br />
achieved via media content, marketing activity, and / or data driven consumer interaction. We have<br />
assembled a leading youth media and marketing management team, and developed expertise in<br />
delivering integrated youth media and marketing activities for a wide range of clients (recent client<br />
campaigns across the IMD Group include Sony, Samsung, ScreenSelect, News International and<br />
hundreds of local youth targeting clients).<br />
Radio is the most effective means of communication in the youth market and reaches 80.4% of the<br />
target youth market, whom, in turn, are spending 34% of their media day with radio. Research from the<br />
RAB demonstrates that radio accounts for a higher share of the media day amongst 16-34 year olds<br />
(34%) with 65% agreeing radio “is an important part of my daily life”.<br />
Against this backdrop, IMD Group has invested in IMD Radio Ltd, <strong>to</strong> apply for targeted youth licences,<br />
building on <strong>Itchy</strong>’s local knowledge, advertiser contacts and IMD’s abilities <strong>to</strong> manage small profitable<br />
media businesses, and <strong>to</strong> buy underperforming youth radio stations, and turn these businesses around<br />
(as per turnaround success achieved in other IMD acquisitions),<br />
Our radio aspirations fit our strategy in youth media, and our integrated range of activities will help any<br />
stations that we own reduce its reliance on pure local advertising, as well as offering each station an<br />
improved audience marketing resource and ability <strong>to</strong> add value through cross-selling youth radio<br />
sponsorship and promotions <strong>to</strong> our existing clients. This integrated approach extends the commercial<br />
potential of stations, and our complementary media and marketing abilities can be utilised <strong>to</strong> increase<br />
local young adult audiences, and grow revenue per listener.<br />
UK youth ILR owned by large ‘full-service’ radio groups often results in bland programming and tired<br />
marketing, and this is reflected in the creeping growth of BBC Radio One, at the expense of commercial<br />
radio. Through focussing on youth ILR, IMD Radio Ltd has the ability <strong>to</strong> innovate quickly, due <strong>to</strong> its<br />
proximity <strong>to</strong> the fast-moving tastes and desires of the youth market. This audience are heavy users of<br />
MP3s, iPods, PVRs, multi-channel TV, mobile technology and increasingly, digital radio. We believe<br />
our innovative approach <strong>to</strong> radio as a multi-media proposition will help youth radio <strong>to</strong> maintain its reach<br />
within this multi-channel world through ensuring the continued relevance of local radio <strong>to</strong> this audience<br />
and its advertisers, subsequently improving our stations’ profitability.<br />
Northern Light Ltd<br />
Headed by a very successful locally resident entrepreneur, Rolf Munding is active in developing<br />
businesses, many with large youth appeal (Fabric Night Club, The Greenroom music venue, Duffs etc).<br />
His strategy is <strong>to</strong> assist the station <strong>to</strong> maximise its reach and become a profitable local media channel<br />
at the heart of the Cornish youth community.<br />
IMD Radio Cornwall Ltd<br />
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