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JC$

07/26/10 4:52 PM

#454 RE: JC$ #453

Competitors
The closest competitor is Sirius/XM radio but even they are very dis-similar to “The One”. “The One” radio caters primarily to the Ethnic, Senior Citizen and Disenfranchised Youth markets.

“The One” radio like Sirius/XM is a subscription based service for legal reasons. A one-time subscription fee is charged upon activation and the radio is given as a gift. Unlike Sirius/XM Ludwig does not charge a monthly fee. The primary source of income to Ludwig is from advertising and the sale of syndication time.