PHILADELPHIA, PA (RMD Entertainment Group) - RMD Entertainment Group (PINKSHEETS: RMDG) proudly announced today that after 5 months of negotiation, they are in the final stages of completing a major multi-media broadcast and product development deal with The Hip-Hop Hall of Fame.
The Hip Hop Hall of Fame has been in existence for over two decades. It has been serving as an ambassador for the music to young people across the world since its inception. It was last broadcast on television exactly ten years ago this year on BET. Because of the violent deaths of rap icons Tupac Shakeur and Christopher "Biggie Smalls" Wallace that year, national stations and major advertising sponsors went into a hole and buried their heads when they were approached about being involved with the HHHF broadcasts. The HHHF remained active in the community in various locations throughout the East and West Coast during the decade of healing that followed trying to use the music that so many loved to put an end to violence and also held several gang truce programs during that time as well.
As time passed Hip Hop has become the "Golden Child of Madison Avenue" with major advertising campaigns being spearheaded by millions of dollars from major car manufacturers like Chrysler, fast food giants McDonald's and Burger King, and soft drink companies like Coca-Cola and Pepsi Cola. These social and economic changes have put the HHHF in a position to capitalize on the opportunities that its brand has in current market conditions and has also allowed them to enter into discussions with several large networks for multiple broadcast opportunities beginning in the fourth quarter of 2006.
Giorgio Costonis said, "We have taken what we call our first big steps in our corporate evolution here at RMD today. We had our baby steps with our first music release recently, and while we remain very pleased with our results thus far, we are not satisfied. The HHHF is a brand that is literally worth multi-millions of dollars right now if managed properly. This move by RMD, while aggressive for an emerging company like ours, should pay off huge dividends for the company and shareholders alike for years to come. Our plan is to drive revenue through advertising of programming, brand specific merchandise sales, DVD sales, Pay-Per-View sales, Video-on-Demand sales, ancillary program development in conjunction with RHN, and multi-media content distribution through Google Video and MOTV." He further added, "We have always seen the value in aligning ourselves with what we call true hip-hop companies like HHHF and the Real Hip Hop Network (RHN). These are companies that are by the people and for the people that live, breath, and sleep the lifestyle and the music that we are selling globally through a multitude of product offering and distribution channels. These savvy hip-hop consumers are starting to understand the power they possess in the global economy by driving the 70 billion dollar industry that we compete in now. We plan to begin product development in tandem with the HHHF immediately and expect tremendous results for the bottom line from our combined efforts going forward."
HHHF CEO JT Thompson commented, "The HHHF is positioned to be a monster in the industry once again. We are confident that together with RMD we will exploit the credibility of our brand and show the world what two positive forward thinking hip-hop companies can do together by earning substantial dollars in the global marketplace, putting a permanent foothold in our economic space and using some of that income to continue to spread a message of hope to young people around the world. RMD has conducted itself like a professional organization that believes in its ambition and abilities. We are thrilled to be affiliated with such a fine organization."
At press time management for both companies informed the media that this was the beginning of a series of announcements between the two firms and more will follow as specific projects and products are ready for market.
