EAST BRUNSWICK, NJ (TIP): 8K Miles Media Group, Inc.(“8K Miles Media” or “Company”) announced , December 2, a next phase launch of its business into the important New York tri-state area. This launch, a core strategic directive consistent with 8K Miles Media Group’s broader vision for global expansion, was timed coincidentally to celebrate its successful first year of operations. The tri-state launch broadens and deepens 8K Miles Media Group’s geographic footprint, develops its addressable market and listenership, strengthens its core foundation and builds critical mass to help drive continuing penetration into additional U.S. and Canadian markets leading to eventual follow-on worldwide expansion.
Founded on November 26, 2014 by serial entrepreneur Suresh Venkatachari and supported by ethnic media veteran Michael Lakshin — 8K Miles Media Group has been aggressively building its business (both organically and through strategic M&A acquisitions) culminating in this next phase tri-state launch. Founded on a strategic vision to consolidate highly fragmented South Asian Indian Media markets targeting North American viewers, its longer-term strategic focus involves broadening geographical reach to leverage worldwide consolidation initiatives that target additional global South Asian demographic opportunities using propretary digital-cloud media platform.
8K EBC Radio (previously EBC Radio) is the longest operating, and one of the most recognized, radio brands in both the South Asian media market and the U.S. Ethnic Media markets generally. Founded in 1999 by seasoned media entrepreneurs Alka & Arvind Agrawal, 8K EBC Radio has successfully catered to the needs of South Asian Indians in New York, New Jersey and Eastern Pennsylvania on the 1170 AM dial for more than 16 years – and more recently through additional online channels and its digital app. In the spring of 2015, the Agrawals felt that EBC Radio needed to expand its market coverage and bring its programming schedule to completely new creative and technical levels to achieve market share gains and maintain and secure steady growth and decided to be a part of the larger 8K Miles Media Group. Immediately after become part of 8K Miles Media Group, 8K EBC Radio expanded into four frequencies: 1170 AM, HD2 97.1 FM, 104.7 FM and 100.7 FM and now reaches out to an addressable market of more than 800,000 South Asians residing or doing business in New Jersey, New York, Eastern Pennsylvania and Southern Connecticut.
Alka Agrawal, COO & General Manager of EBC Radio 1170 AM, said, “We are extremely pleased to be part of 8K Miles Media Group that has strong business management, technology, capital, human and other resources to expedite our core growth strategy to continue to best the competition – not just in Indian-American radio markets in New Jersey, New York, Pennsylvania, and Connecticut, but also into expanded market opportunities across the U.S. and Canada.”
Kulraaj Anand, an EBC Radio Programming Director for over 16 years, added, “We are happy to cross the important milestone in the history of EBC Radio where, together with 8K Miles Media Group, we can bring it from a local ethnic radio channel to one of dominant South Asian Indian radio channels in North America, and later in the world, with the leveraged use of digital technologies provided by 8K Miles Media.”
8K Miles Media Group plans to continue to grow both organically while also executing a targeted “Rollup Strategy” in South Asian Indian media markets in the U.S., and subsequently in Canada. The Company is working to finalize one or more new transactions beginning in the first quarter of 2016. Suresh Venkatachari, Founder and Chairman of 8K Miles Media Group, said, “It’s a very good feeling to see our vision becoming a reality. We believe that, absent a material change in market conditions, 8K Miles Media will have continuing access to substantial additional capital resources. In addition, we want to emphasize that all prospective qualified targets benefit from substantial brand awareness and brand equity combined with revenue and positive cash flow that mesh synergistically with our existing 8K Miles Media Group businesses.”
Michael Lakshin, Chief Executive Officer of 8K Miles Media Group, noted, “8K Miles Media Group is growing even faster than we had initially anticipated, and our goal for 2016 is to be able to sustain and further accelerate this growth.”
Additionally, 8K Miles Media Group is developing the 8K Radio Telugu concept programming schedule as well as assembling the best team of professional Telugu RJ’s in India and the U.S. – and working toward the expected launch of 8K Radio Telugu in February 2016. The 8K Radio Telugu offering will be a digital 24/7 Live Radio Channel from the U.S. covering three main time zones (Pacific, Central and Eastern) available on the Web, iOS and Android platforms.
After launching 8K Radio Telugu, 8K Miles Media Group separately plans to introduce the 8K Radio TTMK (TTMK for “Tamil-Telugu-Malayalam-Kannada”) concept on terrestrial frequencies across the US. The TTMK idea was conceptualized based on the Company’s understanding of the South Asian Indian advertising market characterized as presently lacking sufficient market size to support individual terrestrial radio channels in various South Indian languages but potentially attracting a substantial advertising budget from advertisers seeking to reach a highly valuable demographic consisting of a combined mix of Tamil-Telugu-Malayalam-Kannada communities estimated to exceed one million U.S. retail consumers.