CD 102.5 Launches Crowdfunding Campaign To Purchase Station License
WWCD Limited has launched a crowdfunding campaign to purchase the station license for 102.5 WWCD Baltimore/Columbus, OH.
Randy Malloy’s WWCD Limited has operated Alternative “CD 102.5” via Time Brokerage Agreement on 102.5 WWCD since November 2011 when it assumed the operations of the station from Roger Vaughan’s Fun With Radio. The station is owned by Southeastern Ohio Broadcasting System.
The current Time Brokerage Agreement is set to expire in October 2016 with options to renew for two more years at $30,000 for the first year and $33,000 per month for the second. The lease started at $12,000 per month in the first year back in November 2011 and will go up to $25,000 per month this November.
The Indie Go-Go campaign launched by the station today seeks to raise $1 million (and up to $5 million) to put towards the outright purchase of the station license with the hope of cutting the costs associated with operating the station.
CD102.5 (formerly CD101), established in 1990 as an independently owned and operated, alternative rock radio station will launch a IndieGoGo crowdfunding campaign on July 6 through Sept. 3 to purchase the license for the signal which it currently rents. The goal for the campaign is a minimum of $1 million.
Upon successful completion, it will be both the largest crowdfunding campaign in Ohio and the largest nationally for an intangible product, according to IndieGoGo.
“We are independent and individual like our listeners,” says Randy Malloy, president and owner of the station. “We are not a mega corporation, playing the same music across multiple frequencies. We are invested in our community, supporting local artists, and making sure good music gets heard.”
The successful purchase of the broadcast license will improve cash flow and ensure the station’s continued independence and long-term sustainability. Independent radio provides a way for bands and musicians who haven’t been signed to a major label to have their music heard. Live DJs, in real-time, who live in their city, not pre-recorded or streamed broadcasts make independent radio unique.
“I grew up listening to CD101 and didn’t really understand what independent radio really meant until we started going to stations and realized that there is sort of a blanket control,” says Kevin Ray of Walk The Moon (“Shut Up and Dance”). “Because of CD101, I was exposed to cool music that I otherwise never would have discovered.”
Throughout its 25-year history CD102.5 has been a strong partner of Columbus non-profit organizations, providing arts, culture, and social service organizations promotional support to reach key target audiences. The station’s non-profit foundation, CD102.5 for the Kids, has donated more than $1 million dollars to children’s charities over the past 25 years.
“What began as a rag tag bunch of kids with a passion for music and a desire to make a difference, CD102.5 is now a nationally recognized force in the music industry,” said Malloy. “CD102.5 has a track record of breaking bands and taking chances on artists that may never have received exposure elsewhere. An investment in CD102.5 is an investment in community, in music and the artists who create it.”
To learn more and to donate go to www.cd1025.com/invest.