RMD Entertainment Group (PINKSHEETS: RMDG) -- On November 9, Giorgio Costonis, Chief Executive Officer for RMD Entertainment Group, was interviewed by Investorsparadise.com. Here is a transcript of the interview.
1. Interview question: A number of members have expressed concern and uncertainty surrounding RMD as a speculative stock and fear that they will burned again by an untrustworthy leadership team that will take their money and walk away. What can you and the leadership team communicate to our members regarding RMD's values and beliefs pertaining to honesty, credibility, reputation, etc. of yourself, your leadership team, and other RMD staff? Marketmaker06.
Response: I was fortunate enough to be raised by a father who preached one overall rule of "respect" for his children and his household as I was growing up. It has been my experience that without credibility, honesty, and truthfulness I could not approach this position at RMDG with the respect it deserves. Reputation is everything in life and in the business community. If a personal acquaintance knows that you are a good hearted individual with transparency between you, they will respect you more because there is a huge level of confidence and comfort with you. My staff and I treat people as we would like to be treated back in both our personal lives and business dealings. I am fortunate enough to have people that share most of the same value systems that I do and also have my best friend for the last 14 years working with me as my Vice President (Mark Davis). The "R" in RMD stands for "real" and the complete company name in long form is "Real Music Deal." We pride ourselves on doing what we say we are going to do for our artists, strategic partners, customers, and shareholders. Hip-Hop has a very checkered past when it comes to "hustling" people or their own artist stable for money. When we accepted the challenge laid before us we committed to breaking the stereotype that has previously existed. That is the only way we could truly blur the lines between Hip-Hop and Wall Street. There is no glory in being dishonest but there is almost certain victory with integrity and hard work. We didn't cut any corners during this turnaround and the building of RMDG. By following our game plan with integrity we are able to build a strong sustainable foundation for the company that should foster stability and profitability.
2. Interview question: There are a number of technological changes emerging related to wireless communication, downloadable videos, streaming television to mobile phones, YouTube, MySpace, Apple's iTunes and video, etc. Where do you see RMD positioned, as a niche Hip-Hop segment, with respect to all of the technological changes that are occurring? Marketmaker06.
Response: It is my feeling that we are positioned at the highest level when it comes to the multiplatform digital marketplace. There is not another Urban Media Content company in a more aggressive pattern than RMDG in the world. As a matter of fact, many other labels are looking very closely at our matrix of 64 distributors as a case study to see where the future of the industry is going in terms of the bricks and mortar outlet sales versus online retail outlets. There has been a profound shift towards the digital line in the last three years and we see it continuing that way.
The great news here is that although the technology continues to develop and the profit lines become more and more directed at digital sales, content is still king and we don't have any shortage of content to drive sales through our numerous channels. As you know Roc and Kuntree are under three album deals, we are developing our own television shows via MOTV Productions, and earlier this year we signed a content deal with RHN that gave us access to over 15,000 hours of urban media content.
Wireless communication and streaming is key to any content distributor in today's market. Our subsidiary MOTV Inc. has been working very hard to position itself to be involved in that market and we now have the content to begin to compete in that business space. RHN will be ready to provide an upgraded transponder signal to MOTV within the next 40 days at which time we will have the capability to do live broadcasts of the network to anyone who has a mobile device or pda around the world.
3. Interview question: RMD has a significant number of distribution channels and agreements with both online and brick and mortar stores to market digital products (i.e., music, ring-tones, video, etc.). How have these distribution agreements helped RMD posture itself in the Hip-Hop genre compared to your competitors? Marketmaker06.
Response: I think I answered this question for the most part in the previous answer above. However, let me make this clear. I am confident that we can work with or compete in a friendly manner with other companies in our genre. We are not a company that engages in a hater (envious in a destructive sense) mentality. We want our successes to benefit the Hip-Hop world in general. Working with companies that are larger and more advanced than RMDG is currently or working with smaller less advanced companies, it doesn't matter. As long as there is a mutually beneficial honest relationship on the table we are open. We want companies in Hip-Hop to understand one thing: We want to be the best we can be, and that is why I have challenged my staff to make us the number one corporation in the Hip-Hop community.
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