Former Indian Cricketer Kapil Dev is among the investors who have taken an undisclosed stake in Singapore based Internet Radio venture, Radio Corp, owned by Channel 2 Group and id8labs. Radio Corp, reports Indiantelevision.com, plans to raise $30 million in two years, and use the funding to expand its programming portfolio and feature verticals related to cricket, soccer, golf and tennis. Channel 2 is promoted by Dubai based businessman Ajay Sethi.
$30 million is a lot of money, and we guess it will primarily be used to acquire rights to sports events. This is something we’ve seen before, in case of Live Current Media and Global Cricket Ventures, and it has bombed.
Cricket Freeq & Radio Corp’s Digital Rights
Channel 2 has launched an internet radio platform for cricket, www.cricketfreeq.com, an Internet radio service featuring former cricketers Sunil Gavaskar and Clive Lloyd as commentators, and plans to to launch similar Soccer and Golf verticals within this year. Channel 2 Group had partnered with ESPNCricinfo in 2009, at the time of the ICC T20 Championship, and at that time, it had said that it had paid $5 million for the following rights:
1. Radio Broadcast Rights for Middle East till the Year 2015.
2. Internet Rights Globally till 2015
3. Radio coverage via Internet & through Mobile Telephone Systems for Middle East Region till the Year 2015.
4. Radio Rights, Radio coverage via Internet & through Mobile Telephone Systems for United States, Canada & Mexico till the Year 2015.
5. Internet Streaming, Mobile Audio & 3 G Global Rights excluding India till the year 2015
Apart from this, its website also lists the following rights:
1. English Premier League (EPL)- Radio rights for Middle East, South Africa, Angola, Mozambique, Kenya, Tanzania, Uganda and India.
2. BCCI Series- Cricket Broadcast Rights for South Africa until March 2010.
3. Channel 2 Group has obtained the following 3 Licenses from Broadcasting Council in Uganda thru Uganda Broadcasting Corporation (UBC): Digital Terrestrial Pay Television/ Digital Free to Air, Direct to Home Satellite Broadcasting and Mobile Television in Uganda.
According to the company’s website, it has partnered with Channel 4 radio in Dubai, Caribbean Media Corporation in Barbados and Sirius Radio Network in US and Canada, in addition to Reliance Communications in India, for live radio and Internet feeds.
The group estimates 2.5 lakh to 3 lakh users on their website, of which 60 per cent would be from India, according to The Hindu Business Line. Around 35 per cent are expected to access the site from their mobile phones. We earlier reported that Yahoo is the official internet partner for the ICC World Cup 2011 and Reliance Mobile is the official Mobile Portal/WAP site.