Century Group’s (CEYG.PK) BroadcastBid.Com Saved the Internet Radio Star?

Internet radio stations are facing what popular Internet radio provider Pandora.com’s founder calls “an ill-conceived attempt to crush” Internet radio. The Copyright Royalty Board has recently announced that it insists that Internet radio stations pay a per-song licensing fee that represents a huge increase in the royalty fees required for Internet radio stations to operate. What’s more, the CRB has insisted that these royalties are retroactive to 1998, which could add up to “tens of thousands [more royalties] in arrears” according to usatoday.com.

“BroadcastBid.com was conceived as a source of non-traditional source of revenue for traditional broadcast stations,” says Dan Bordui, President of Century Group, US (PINKSHEETS: CEYG). “We have always intended to expand that model to offer other broadcasters an additional source of revenue as well, but have been focusing on our core competencies first. However, when we heard about the new royalty rate hike, it was immediately apparent that we’d need to work out a way to partner with Internet radio stations as soon as possible. They’re in trouble, and we think that BroadcastBid.com could be exactly what they need to help them out. As a non-traditional source of revenue, BroadcastBid.com can’t be beat; it’s free for the radio station and can generate unlimited amounts of revenue. Our most successful station group earns over twenty thousand a month in revenue off our product, so huge Internet radio providers such as Pandora.com or Last.fm, who have a much larger listener base than most radio stations do, should be able to earn even greater revenue. And, of course, an online auction site that’s tied to a Internet radio station is an awesome revenue combination.”

According to an Arbitron study, Internet radio listeners are more likely to be educated than their counterparts (12% more likely to have a college degree), are predominantly male (67% male), and are more likely to have a household income of over $50K a year (12% more likely).

This is almost the exact same demographic spread as eBay’s visitor base, as compiled from their own user tracking statistics. A quarter of eBay’s users are in the 18-34 demographic, with more than half of them making between $25K and $75K a year. Combine this with the fact that almost 60% of Internet radio users listen to Internet radio while shopping online according to Arbitron, and a clear potential market emerges.

“Century Group’s BroadcastBid.com is the right product, at the right time, for the right price,” Bordui continued. “We offer a revenue-sharing online auction platform that radio stations can use to directly monetize their listening audience. This is exactly what Internet radio needs at this moment, and we’re happy to be able to provide this service for them.”

For more information on BroadcastBid.com, or to see Century Group’s Safe Harbor Act Disclaimer Notice, go to www.BroadcastBid.com.

About Broadcastbid.com:

BroadcastBid.com is entering the marketplace with a unique product that fills a definite need in traditional media companies and which will offer auctions similar to eBay that may find it increasingly hard to attract revenue from modern Internet media users. BroadcastBid.com offers radio stations different ways to generate non-traditional revenue, from set-price sales to classifieds.

About Century Group, Inc:

Century Group provides exciting new opportunities in non-traditional revenue and content offering in the online media space to compliment offline advertising and marketing. Century Group is currently investigating partnerships to provide traditional media stations with value-added opportunities to generate revenue and enhance profitability while providing the consumer with addictive and recurring content that will drive those revenues for the broadcasters.

For more information on BroadcastBid.com or to see BroadcastBid.com’s Safe Harbor Act Disclaimer Notice, go to www.BroadcastBid.com.

 Contact Trevor Longino Communications Director Office: 407.540.0452 Direct: 321.256.2939  

SOURCE: Century Group