Pam Communications, the publisher behind electronic music magazine Electronic Sound, has launched an equity crowdfunding campaign on Crowdcube and is seeking £175,000 as it prepares to build onto its portfolio.
According to Pam Communication, Electronic Sound is sold in more than 220 WHSmiths and over 65 Sainsbury stores throughout the UK. More than 7,000 copies have been distributed in the UK and 3,000 on export since May 2014. The publication itself has received support from electronic music figures and other celebrities, such as Wolfgang Flür (ex-Kraftwerk), Gary Numan, OMD, comedian Matt Berry and Gadget Show presenter Jason Bradbury. Pam Communications revealed:
“Our flagship title, Electronic Sound serves an army of devoted electronic music fans who are not catered for elsewhere, providing an unrivalled editorial authority and depth of knowledge about electronic music and the technology used to create it. It’s the best magazine about electronic music in the world.”
Pam Communications also noted that it is working to integrate its digital and print offers as closely as possible, particularly on ways to maximize revenue. Along with music, the publisher stated it is looking to create new publications for craft beer and the wider artisan food and drink scene, along with independent filmmaking, with a focus on the YouTube generation; and other music genres, including a title based on 80’s and 90’s club culture.
The company also noted that it is aiming to build a portfolio of five magazine brands by 2020 and has so far raised £360,000 to date including £260,000 of convertible loans, £160,000 of which converted as part of the Crowdcube round (£100,000 at the same share price, £60k at a 30% discount).
Since its launch, the campaign has raised more than £55,000 from 225 investors. It is set to close at the beginning of February.
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