Cornwall's 105 to 107 Itchy FM - Ofcom Licensing

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