Spike Networks' newly created division Spike Internet Radio will launch a 24-hour, seven-days-a-week online radio station targeting the international "hard-core urban youth culture", says the company.
August 1 will see the debut of SpikeRadio (http://www.spikeradio.com), stocked to the brim with "aggressive original programming" -- an "attitude-laden mix of music, news and live chat all live from SpikeRadio's headquarters in Los Angeles", according to a company statement. The service will offer streaming audio and video, says the company.
A promotional campaign the size of $2.2 million will launch SpikeRadio whilst Spike Networks forecasts revenues of $5.3 million by June 30 through advertising activity on the station.
In related news, Spike Networks share price has continued to slide since the company's listing on the Australian Stock Exchange last Friday. Today Spike shares fell to a low of $1.23 and closed at $1.26, 19 cents below the IPO price of $1.45.