Cornwall's 105 to 107 Itchy FM - Ofcom Licensing

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A large part of Itchy FM’s likely success will be a result of its marketing penetration into the 15-34 Cornish market. Whilst this audience is poorly targeted by the incumbent local ILR’s, we will have to battle for share from a well resourced BBC Radio One. However, shareholders are confident that the variety and ubiquity of Itchy FM’s marketing efforts will achieve the required reach. Our programming will extend hours and our commercial team will ensure this audience interest is conveyed to prospective advertisers. 37
FINANCIAL SUSTAINABILITY The size of the licence means that if the station was solely reliant on traditional local radio income (predominantly spots), the station would be limited in its marketing activities and overall profitability. The board have made several plans to ensure that Itchy FM will be sustainable, without being required to run the station on an overly restrictive budget. As outlined previously, the station will operate with: 1. Low fixed cost base 2. Emphasis on wide range of commercial activity 3. Access to non–traditional national client-direct sponsorship revenues Low fixed cost base The investors have a range of experience of running SME businesses with scalable overheads in line with revenues. Cautious fixed costs, enhanced and performance related pay to ensure staff motivation aligned with business success. This is demonstrated at IMD Radio Cornwall through the Commercial focus and the use of shareholder support (especially the IMD Group structure) to create flexible, on demand opportunities for revenue growth. The Launch Team will be in place for four months prior to and six months post-launch date and will ensure station set up within budget and that revenue targets are achieved. The team’s skills are such that they will be able to: • Ensure effective use of partners / outsourcing and group services • Deliver local sales training and process creation to ensure sales sustainability, • Develop the Itchy Cornwall brand position for trade and consumer marketing, • Determine fixed and variable cost levels and ratios, • Ensure local goodwill and support generated during the bid is harnessed post-award, • Channel shareholder expertise and knowledge to the management team of the station from launch. 38
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 20 and 21: Station’s link with Investor stra
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 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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