IndieMV Media Group, Inc. (OTCBB: IDMV), is a fully integrated, digital entertainment company that is pioneering new business models and social media sites for the distribution, licensing, and marketing of digital media. In the coming weeks the Company will release the final details of a radically different licensing model for independent musicians. The new approach, will, for the first time in the industry, give independent musicians and independent record labels a significantly larger, less encumbered, more immediate, more controllable, and more lucrative share of proceeds from the online sale of their music and videos, as well as site advertising revenues earned on the Company’s flagship IndieMV.com site.
Websites like YouTube have proven that streaming video is the most sought after media on the Internet, while Facebook has shown that a social community is the strongest driver of traffic on the Internet. At the same time, the music industry as a whole is suffering as the digital age unfolds with no clear path as to how record companies will survive, leaving both artists and fans struggling to reach each other.
The solution is simple: build an entertainment based social networking site that bridges the gap between artists, fans and music lovers in the 16-34 year old demographic. IndieMV.com will allow users and musicians to connect through unique video based tools such as video blogs, private video messages, video forums, streaming music and video, downloadable music videos and mp3’s, exclusive interviews prepared by our in-house video jockeys and many more web 2.0 applications and tools that will help ease the ‘matchmaking’ and ‘networking’ experience between users and musicians.
IndieMV’s primary revenue stream will come from an ‘ad-based’ model driven by our social networking services, applications, joint venture partnerships and strategic alliances. Revenue will also flow from direct downloads, gifted music and music videos from our online store, and additionally from our mobile phone partners as they distribute our content to their established user base.
In October 2007, Microsoft agreed to buy a $240 million piece of the company in a transaction that values Facebook at $15 billion. For Microsoft, the deal underscores the rising importance of online advertising. The arrangement gives Microsoft control over the placement of banner ads on Facebook outside the U.S., where about 60% of Facebook's 49 million active users reside. Microsoft had already reached agreements to sell U.S. banner ads for Facebook through 2011.
What many deemed a fad when the first sites appeared in 2000 has evolved into a big business that is changing the way hundreds of millions of people communicate.
“Virtual communities & online social networking sites are providing a new, powerful, & extremely popular medium for human connection. In the near term, infrastructure providers, social network providers, & wireless players stand to profit largely.”
-Reportlinker.com, London, UK, March 18, 2008
Interest soared when News Corp. bought MySpace for $580 million in 2005, when the social networking trend was just an infant. But the child became a beast when Microsoft put a head-spinning $15 billion valuation on Facebook by paying $240 million for a 1.6% stake. Other tech giants in the game include Google, Walt Disney Co. and Cisco, which bought two social networking sites in the past year.
Research firm eMarketer says 37% of U.S. adults and 70% of teens use social networking sites. It projects that will rise to 50% of adults by 2011. Networking sites also are starting to bring in more revenue. Ad spending on the sites will top $1.2 billion this year and reach $2.2 billion in 2008, eMarketer forecasts.
"There is a lot of hype right now," Graf said, "but what you're seeing is not going to stop...social networking is here to stay.”
-Investor’s Business Daily, Dec 27, 2007.
"Social networking is growing rapidly at the same time there is a massive migration of people going from the TV to other screens," from the PC and laptop to handsets, said Stern”
-David Stern, Clearstone Ventures, December 2007
"The forces that underlie social networking are too large of a tent to be covered by MySpace or Facebook," said David Scott Carlick, a managing partner at VantagePoint.
-Brian Deagon, Internet & Technology, Sept 24, 2007
IndieMV Media Group to Begin Asian Expansion in Philippines with Appointment of Strategic Board Member
IndieMV Moves to Open Asian Marketplace and Expand Reach as Multi-Billion Dollar Digital Music Industry Continues to Boom
NEW YORK, Jun 19, 2008 (BUSINESS WIRE) -- IndieMV Media Group, Inc. (OTCBB:IDMV), a company that is pioneering new business models and social media sites for the distribution, licensing, and marketing of digital media, today announced that the Philippines would be the entry point for the Company's Asian expansion. Utilizing the vast contacts and network of newly appointed Board member, Sherwin Lim, the Company plans to capitalize on the opportunities that exist in the Philippines as the Company's entry point into the Asian marketplace.
"With the Philippines being one of the fastest growing Internet and Mobile phone users in Southeast Asia, we feel strongly that using the Philippines as our entry point into the Asian marketplace would provide a stable and viable footing for our expansion into the rest of Asia." Stated Mr. Lim.
A 2007 PricewaterhouseCoopers study estimates Asia's digital music industry at over $4.2 billion. Internet users in China alone have grown from 23 million in 2000 to 162 million in 2007. (Miniwatts Marketing Group, 2007)
"I am excited to bring my experience to the IndieMV team as a member of the Board. I am looking forward to not only opening as many doors as I can in Asia but also providing valuable inputs regarding mergers and acquisitions and corporate governance".
Sherwin John Y. Lim is a serial entrepreneur with an extensive background in commercial and investment banking and financial management consulting with a proven history in the formation and development of successful global businesses and international interests.
With a BA in Economics from the University of the Philippines and a Canadian MBA from Laurentian University, Mr. Lim began his career as a licensed stockbroker/RR in the TSX (Toronto Stock Exchange) and then trained as a Commercial Banker at Citibank. Subsequently he served as an Investment Banker with the Pacific Asia Capital Corporation and was Financial Management Consultant for De la Rue plc, which is the world's largest provider of security paper and currency printing equipment.
A noted entrepreneur, Mr. Lim has founded a number of start-ups that have thrived and are successful ongoing businesses in Canada and the Philippines in the varied fields of Wholesale Distribution, Bonded Warehousing, Customs Brokerage, Plastics and Video Compression Technology. He is currently a Director on the Board of Taiga Building Products Ltd. and was the Audit Committee Chairman for the past three years. Taiga is Canada's Largest Distributor of Lumber and Building Products with annual sales in excess of a billion dollars.
Bridging enterprise and social responsibility, Mr. Lim also serves on the Board of Advisers for Canadian Pacific Global Pharmaceuticals, which is engaged in the marketing and distribution of pharmaceutical products worldwide as well as the operation of a number of Medicine Shoppe drugstores in Canada. And, he is a Founding Benefactor of the Lion's Medical Eye Bank of the Philippines Foundation, headquartered at the Cebu Doctors' University Hospital and inaugurated last January 2007.
IndieMV CEO, Ricardo Khayatte Jr. welcomed Mr. Lim to the Board and announced that new beta features and optimization to the Company's social music flagship, IndieMV.com, are also being discussed as part of this overall strategic expansion into the Philippines. Mr. Khayatte stated, "Among the many new implementations being discussed are catalogue upgrades, optimized navigation, and new advertising solutions."
IndieMV Media Group, Inc.
1917 West 4th Ave.
Vancouver, BC V6Z 1B9
Estimated Market Cap
28,003,166 as of Jun 19, 2008
50,005,654 as of May 14, 2008
Number of Share Holders of Record
48 as of Dec 20, 2007