PHILADELPHIA--(BUSINESS WIRE)--May 31, 2006--RMD Entertainment Group (Pink Sheets:RMDG) proudly announced today that along with Real Hip Hop Network, they will co produce five of the biggest hip-hop concerts to hit the stage this year. While details are still being ironed out with respect to performers and venue dates, hip-hop legends LL Cool J and Jadakiss were the first two headliners to announce their participation in the RMD/RHN production. RMD's own Roc Monee will be performing in all of the events.
According to the deal, RMD will not only get 50% of all revenue generated at the events themselves (ticket sales, merchandising, food & beverage, etc.), but they also will share half of all revenue generated by the sale or distribution of any content that emerges from each performance. RMD plans on utilizing their strong relationships with Bungalo Records (exclusively distributed by Universal Music & Video Distribution) and The Pickwick Group Ltd. to globally distribute content from the events, while making use of their proprietary MoTV platform to serve the growing mobile community by making the events available via Internet Protocol (IP) enabled devices. Pay Per View and Video on Demand will also be targeted as major revenue sources for each event.
RMD CEO Giorgio Costonis commented, "This is an incredible opportunity for RMD to explore large-scale event production and the enormous revenue opportunities that go with the territory. What makes this co production project so exciting for us is the simple fact that we have just added a whole new dimension to our strategy for monetizing our hip-hop related content by capitalizing on the live events." Costonis added, "We are in a unique position to create the content, sell and distribute the content and utilize the same content to promote our own artists...we haven't even factored advertising into the formula yet. RMDG is focused on one thing now - revenue. Projects of this quality could earn us substantial revenue, perhaps even millions. High quality productions such as this are always in demand but what makes this product line so appealing is that 22 million viewers will be able to preview it live on the RHN Network before they buy it."
RHN President and CEO Atonn Muhammad added, "We recognize the pure value RMD brings to the table on so many levels. These events are the first of many we will execute together." Muhammad added, "What makes our relationship with RMD so important is the fact that our collective vision is redefining the way business is conducted and revenue is generated in the hip-hop community. We are literally taking the business of hip-hop to the next level and will continue to do so."
About RMD Entertainment Group
RMD Entertainment (RMD) is a cutting-edge entertainment company that is primarily focused on the development and international marketing of 'hip-hop' music, including compact discs, digital downloads, and personal 'ring tones' for mobile phone customers, as well as other 'hip-hop' lifestyle products. The Company has also created MOTV, the ability to stream video content to mobile devices, including cell phones and PDAs. RMD has significant successes internationally and its staff producers have collaborated with some of the most influential names in the music industry today including Sting, David Byrne of the Talking Heads, George Kranz, Freedom Williams of C & C Music Factory, Stevie Winwood, Robin Scott, and jazz saxophone legend Bill Evans, among others. The Company currently possesses an impressive hip-hop catalogue, which it distributes exclusively through Bungalo Records and Universal Music Group (a subsidiary of Vivendi Universal (NYSE:V)) in North America and in Europe through the Pickwick Group Ltd. of London.
About Real Hip Hop Network
The Real Hip-Hop Network is the first 24 hour cable channel geared toward real hip hop lifestyle & culture. RHN's core focus is on the 18-34 year old Hip-Hop thrill seeker who embraces the excitement, adventure, and exhilaration embedded in the Hip-Hop lifestyle. RHN will deliver not only the hottest commercial acts on the scene today, but also give you the pure power found in the essence of underground hip hop, featuring the best of the grass roots and the international music scene. RHN brings a side of Hip Hop ignored by the other music channels celebrating the elements and principles that launched hip hop's golden era: DeeJaying, Emceeing, Breakdancing and Graffiti Art.
This was a time when Hip Hop artists were the urban street correspondents, delivering soul stirring and thought provoking commentary on the issues of the day. Hip Hop became an outlet for the pain, struggles, and dreams of those who were a part of its experience. This is what can be defined as real hip hop. Hip Hop has been proven to have massive commercial appeal. RHN provides the world with an engaging, fresh alternative. The Real Hip Hop Network takes everything the world loves about hip hop and challenges the negative images media has made pervasive. RHN operates on a higher standard. We put the "Real" in Real Hip Hop and give the world a mature more gritty choice unavailable on any network before or since RHN. Hip Hop will be globally redefined the RHN Way.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of RMD Entertainment Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Contacts
For RMD Entertainment Group, Philadelphia
Jed Wallace, 310-234-3200
jwallace@mphpr.com
