Monday, June 11, 2012 - 11:40am
Amazing Media runs Amazingtunes.com, where independent musicians can upload and sell their music and keep 70% of the retail price. To promote the music, Amazing founder Paul Campbell (left) started Amazing Radio, a digital (DAB) and online radio station, in 2009. From that project came Amazing Instore, Campbell's service that customizes background music for more than a thousand shops and restaurants in the U.K.
Here's something else unique about Amazing in this space: it's profitable. Campbell's company is on track to clear $3 million in profits this year.
Now, not only is Campbell reportedly meeting with retail and restaurant chains here in the U.S., CNet reveals he's working towards acquiring a terrestrial radio outlet in this country in the coming months. ("He won't share details about his plans for a U.S. radio station, other than saying it will launch either in Boston, New York, San Francisco, or Los Angeles.")
Campbell spoke at RAIN Summit West in Las Vegas in April. The panel on which Campbell spoke was moderated by industry veteran Ted Cohen (right), who Campbell has brought on to forge deals for Amazing with U.S. companies like AOL, Yahoo, and others. Campbell and company are looking for $30 million to fund the expansion, and are reportedly talking with VC firms like Kleiner Perkins Caufield & Byers and Mayfield Partners.
Read more in CNet here and Hypebot here.