Posted by Dave
Rap News Network
5/31/2006 7:09:05 AM
Tags and topics realted to this article include LL Cool J and Jadakiss. Hip Hop, Rap and Events.
RMD Entertainment Group 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."
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