Cornwall's 105 to 107 Itchy FM - Ofcom Licensing

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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 19
The application’s shareholders expect the station to build local audience reach and hours, local revenue, visiting audience awareness and national brand support. The station will need to offer the maximum choice in new and established popular youth music and relevant speech content in order to cater for the broad tastes of a local Under 35 audience. Beyond the local audience, it is a unique factor that the station will also need to be well marketed to short term leisure visitors in the summer months. We intend to make our local listeners ‘ambassadors’ of Itchy FM and its work to grow the music, leisure and entertainment scene in Cornwall and for local listeners to be proud of the interest shown in ‘their’ “Made in Cornwall” station from the transient summer visiting audience attracted to Cornwall’s leading position in UK youth culture. Our commercial team will work hard to ensure every revenue opportunity is fully exploited. 20
Page 2 and 3: GENERAL INFORMATION Application for
Page 4 and 5: Rolf Munding Non-Executive Chairman
Page 6 and 7: Martin Dallaghan Current directorsh
Page 8 and 9: o Christopher Weston - A serial hig
Page 10 and 11: Market Opportunity BBC Radio 1 cons
Page 12 and 13: usiness being awarded a Shell Livew
Page 14 and 15: The seasonal uplift in listener vol
Page 16 and 17: This arsenal of advertiser-aligned
Page 18 and 19: only through this genuine investmen
Page 22 and 23: (e) FUNDING The business will be ca
Page 24 and 25: sustain small scale youth media and
Page 26 and 27: Telegraph, Nuts Magazine (IPC) and
Page 28 and 29: Audience Projections Itchy FM predi
Page 30 and 31: Total Hours 546,000 100% Based on t
Page 32 and 33: might incur to achieve such high le
Page 34 and 35: o Newquay: surf / skate, clubbing,
Page 36 and 37: We would also support all station a
Page 38 and 39: A large part of Itchy FM’s likely
Page 40 and 41: Staff structure IMD Radio Cornwall
Page 42 and 43: In addition, IMD Group’s local sa
Page 44 and 45: Director of Radio, Zenith Optimedia
Page 46 and 47: SECTION 105(B) AND (C): CATERING FO
Page 48 and 49: 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 F
Page 50 and 51: spoken word content will provide ed
Page 52 and 53: (b) Proposed format Licence Outline
Page 54 and 55: NOP Study - November 2004 Edison Me
Page 56 and 57: Interest in New Radio Station: When
Page 58 and 59: Radio listeners in Cornwall are wel
Page 60 and 61: Research Conclusions This format cl
Page 62 and 63: collated a number of the most perti
Page 64 and 65: Local meetings Summary of some of t

Cornwall's 105 to 107 Itchy FM - Ofcom Licensing

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