Music of Your Life, Inc. (MYLI) Has Huge Demographic Traction with Boomers, Growing/Established Audience Online via iRadio
July 17, 2014 (www.investorideas.com newswire) Music of Your Life is actually the longest running syndicated music radio network anywhere in the world, founded back in 1978 by Columbia Records producer and jingle writer Al Ham, and it has been in continuous operation ever since that time. The technology has changed a lot since then, but the basic game of putting together syndicated programming packages for broadcast hasn’t. MYIL is focused mainly in the U.S. and Canada, deriving revenues from commercial spots, as well as digital sales and live radio programming subscriptions from their vast network of radio station affiliates. Currently, MYLI is advancing a broader than ever multi-media entertainment business platform and has even decided to bring back music themed cruises, with multiple acts as the entertainment on voyages around the world.
Music of Your Life has considerable end-market traction through its huge network of AM, FM and HD stations across the country, as well as a very well developed and growing internet radio footprint, streaming radio out via the web to listeners under the iRadio® trademark. While the upper end of their core demographic, the senior market, is not typically internet savvy, the company's established presence on terrestrial radio and a mix of prevailing ease-of-use factors have produced surprisingly good results. A sizeable influx of baby boomers into the market (bolstered by a growing audience of younger listeners who love the work in this genre) has made the internet a remarkably healthy channel for MYLI. Notably, the company's CEO is a tech savvy pioneer, and he is making internet a bigger and bigger slice of the pie. These days people use the internet for everything, from buying groceries to listening to music and the growing ubiquity of smartphones, particularly among baby boomers, is indeed telling when it comes to the potential growth parameters for MYLI.
Music of Your Life continues to maintain a strong presence within the adult standards radio market (also known as the nostalgia format and geared towards people over 50). The company's "Where the Stars play the Stars" approach is an audience engagement marvel, using well-known Superstar hosts like Gary Owens, Johnny Magnus, Peter Marshall and Wink Martindale to spin classics like Ella Fitzgerald, Frank Sinatra and Tony Bennett, as well as some big band stuff and more modern equivalents. This is an extremely hot market to have a hold on the way MYLI does, considering the spending metrics that go along with it. Music of Your Life is in an enviable position from an advertising/marketing standpoint, with the ability to bend the ear of the nation's 50 and up population.
In particular, 65 and up retirees with the most discretionary income are a choice demographic that is typically harder to get a handle on than most. However, MYLI has established a solid track record as an ideal in-road for this demographic and Music of Your Life is practically synonymous among this age group with listening to their favorite, unforgettable melodies over the radio. Little wonder then at the recently announced success of the 10-cd Music of Your Life Collection box set of classic love songs, produced by and released under the well-known StarVista Entertainment / Time Life brand. With over 1M CD sales since release two years prior, strong target market engagement metrics continue to deliver top-end results for the product and a considerable degree of the marked success of this release can be attributed to the ingenious marketing.
Chief among the marketing efforts has been an infomercial starring Music of Your Life radio host and Emmy Award winner, Peter Marshall, who is widely known even among 30-something audiences as the former host of The Hollywood Squares game show (ranked #7 by TV Guide last year in its list of the top 60 game shows of all time), in which he is accompanied by Grammy Award-winning singer Debby Boone. A match made in heaven really and we don't just mean Peter Marshall and Debby Boone; we mean MYLI and StarVista / Time Life. MYLI has the choice demographic traction and StarVista / Time Life has the branding reach, as well as the slick production talent needed to close the deal with shoppers. MYLI's control of the Music of Your Life branded assets, including any potential future products through StarVista / Time Life, makes the company an extremely attractive proposition for investors.
Further playing off their successful marketing thematics, Music of Your Life is also moving to take full advantage of the resurgent cruise industry with a re-launch of their tailored cruise business, featuring an initial Music of Your Life Sock-Hop Cruise offering. The Sock-Hop Cruise dovetails perfectly with the company's debut of a 50′s channel on iRadio, creating a cross-promotional feedback loop. With high-class cruise line Celebrity Cruises (founded in 1988 and part of Royal Caribbean since the 1997 merger) providing the venue and premier group/group travel package company Paradise Travel tapped to work with MYLI in putting the cruise together, great success is anticipated as a Sock-Hop theme is paired up with an entertainment menu of famous singers/musical groups appropriate to the theme. MYLI plans to roll out additional channels via their iRadio trademark as well, with genres like country, jazz and rock, in a multi-pronged campaign to expand their audience even further. Online, Music of Your Life is way ahead of internet jukeboxes like Pandora, offering an interactive listening experience backed up by celebrity disc jockeys.
By matching a considerable and growing internet footprint that opens up new audiences rapidly with traditional terrestrial radio, Music of Your Life has fleshed-out a wider demographic capture equation for their content library and sees a sweet spot in the 45-55 (emphasis on women 50 and older) age range. With a library of over 10k songs stretching across nine decades of timeless top hits, Music of Your Life listeners can hear a Bruno Mars back to back with a Frank Sinatra or Elvis Presley, a warehouse of content which services the company's growth ambitions handily.
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