La Mirada, CA (PRWEB) December 11, 2009
Indie record labels beware: There's a new kid on the block - and it's one with Bungalo Records / Universal Music Group and Asian market distribution channels. CEOs Simon T. Yi and W. David Hammonds officially announced the launch of their newest media venture, Legendary Media Group Inc. ("LMG"; http://www.legendarymediagroup.com). The duo's new fully-functional media firm includes in-house production capabilities, marketing and promotions teams, a film division, gaming and iPhone application development, and the distribution heft of a partnership with Bungalo Records / Universal Music Group, for a truly integrated approach to discovering, developing and promoting new music talent of all genres, worldwide.
W. David Hammonds II, founder of Stamina Entertainment Group (http://www.myspace.com/staminaeginc), and Simon Yi, president/founder of music cabling pioneer, ZZYZX SnapJack (http://www.zzyzxsnapjack.com), have joined forces to create LMG which will manage, develop and release new music/artists to the public as well as promote different types of concerts, fundraisers and worldwide events. The firm is leveraging its production skills rooted in movie soundtracks and film scores, to expand the reach of their artists' music beyond the scope of album sales and/or song downloads. LMG also plans to expand their operations within the next two years, to include full TV and film production.
LMG intends to stay true to its motto, "small enough to care, yet large enough to make it happen", by employing many of the same industry promotions tactics currently utilized by indie labels - such as grassroots and viral marketing techniques, and using social media platforms as mass-marketing tools - while also leveraging the weighty industry partnerships that the group has formed.
LMG's artists' albums and singles ready for distribution, will be carefully and widely placed by Bungalo Records / Universal Music Group, in all of the major music supply chains, while LMG's Asian distribution partner, Mnet, will tackle widespread media distribution in both Korea and Japan. All of LMG's American artists will have an opportunity to perform in, and tap into, the Asian market.
According to 2007 data compiled by Soundbuzz, one of the first online music sources in Singapore, in that year, Asia-Pacific's share of the global music market was expanding substantially due to strong growth of digital music - especially mobile music - in the region. Consumers in Asia already buy more digital than physical music, and it was estimated that by next year (2010), they would be making two digital purchases for every physical purchase. And with declining physical music sales worldwide, digital music is the only sector of the industry experiencing growth in consumer spending. Soundbuzz estimated that by 2010, Asia-Pacific would account for 60 percent of all mobile music sold worldwide, whereas Asia used to make up only 20 percent of global music sales.
LMG plans to play off of this international trend with its partner developer in Korea - a game developer with more than 100 titles under its belt. This partner relationship will allow LMG to utilize creative marketing strategies for its talent, generating revenue through artist iPhone applications and online games, in addition to standard music sales.
"Working with just one source - LMG - our artists can create revenue streams via four different channels: Music, film, gaming and iPhone apps, and Asian distribution," says Simon Yi, Legendary Media Group CEO. "We're leveraging our music industry partnerships both in the U.S. and abroad, to offer our artists the best production, promotion and distribution tools that we possibly can, helping our talent to reach key markets and as many audiences as possible - in as many ways as possible."
Specifically, LMG will develop its artists - working with them in a creative collaboration - to the point where they are ready to produce and distribute CDs and digital albums both stateside, and overseas. LMG will also seek to distribute its artists' music via film soundtracks, scores or movie trailers, and will utilize games and iPhone apps as another platform for music distribution. Simon Yi and W. David Hammonds will personally manage all LMG talent, to ensure viability of each of their artists' commercial success.
Yi continues, "The music industry has seen many changes over the past decade. The only constant in the music business is that it is always changing. LMG has figured out a clever way to market and promote our artists in this ever-changing environment."
Legendary Media Group recently signed rap star, Chingy (http://www.myspace.com/chingy), as well as Los Angeles hip-hop artist, B-Shel (http://www.myspace.com/theartistbshel). LMG also represents alternative/electric rock band, Beatnik Jr (http://www.myspace.com/beatnikjr). LMG will be announcing new artist relationships in early 2010. For more information about the company and their expanding artist roster, please visit: http://www.legendarymediagroup.com.
Requests for further information and comment, or interview requests, can be directed to Legendary Media Group CEO, Simon Yi, at 1.888.368.7188.