BEST BUY EXPANDS HD DIGITAL RADIO LINE-UP AT ALL STORES NATIONWIDE
HD Radio Emphasis Supported by Multi-Million Dollar Campaign to Encourage Customer Awareness and Trial
MINNEAPOLIS, ORLANDO, Fla. and COLUMBIA, Md., April 23, 2007 — Best Buy Co., Inc. has joined forces with the HD Digital Radio Alliance, a joint initiative of leading broadcasters to accelerate consumer adoption of HD Digital Radio, and iBiquity Digital Corporation, the developer of digital HD Radio technology, to now offer HD digital radio technology at all its 832 stores nationally. The HD Radio launch is supported by a marketing communications program that includes the latest phase of the Alliance’s previously announced $250 million radio campaign.
Best Buy is the first national retailer to make HD Radio technology available to customers throughout its national chain. Customers will find a premium HD Radio experience in their cars with the JVC KD-HDR1 Mobile HD Radio receiver and the Visteon Zoom. Throughout 2007, the HD Radio line-up will expand to home products and more mobile offerings.
The retailer’s broadened HD Radio product emphasis also is supported by a consumer education effort that includes advertising in its weekly newspaper inserts and a comprehensive in-store point-of-sale program featuring in-store branding and product displays. In addition, interactive HD Radio listening stations will enable customers to experience the technology’s diverse content and crystal-clear sound. The retailer’s in-store program is further reinforced in all markets by the Alliance’s ad campaign, with spots running on all Alliance-member radio stations.
“The HD Digital Radio Alliance and iBiquity have created momentum with customers that now make HD Digital Radio one of the hottest electronics choices around,” said Chris Homeister, Best Buy Vice President of Merchandising. “Product is now available in all of our stores, so no matter where our customers live, they can discover HD Radio and experience the crystal clear sound and new programming choices.”
“Consumers turn to Best Buy as a trusted resource for the ultimate in electronics entertainment and we’re fortunate to have this retailer lead the way with a strong vision for HD Radio,” said Peter Ferrara, president and C.E.O. of the HD Digital Radio Alliance.
“This is another major step forward for HD Radio technology,” said Robert Struble, president and C.E.O. of iBiquity Digital Corp., the developer of the HD Radio system. “Following rapid adoption by the broadcast community and an increasing range of products for the mass market, Best Buy’s efforts will dramatically accelerate consumer adoption of this great new technology.”
More than 1,200 radio stations currently broadcast in HD, with over 600 offering HD2 multicasts, giving consumers crystal clear digital sound and more choices, with no subscription fee. Information about receiver availability, a station guide and more can be found at http://www.hdradio.com.
HD Radio is a trademark of iBiquity Digital Corporation.
About Best Buy Co., Inc.
Best Buy Co., Inc. (NYSE: BBY) operates a global portfolio of brands with a commitment to growth and innovation. Our employees strive to provide customers around the world with superior experiences by responding to their unique needs and aspirations. We sell consumer electronics, home-office products, entertainment software, appliances and related services through more than 1,150 retail stores across the United States, throughout Canada and in China. Our multi-channel operations include: Best Buy (BestBuy.com, BestBuy.ca and BestBuy.com.cn), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca), Pacific Sales Kitchen and Bath Centers (PacificSales.com), Magnolia Audio Video (Magnoliaav.com) and Jiangsu Five Star Appliance Co. (Five-Star.cn). Best Buy supports the communities in which its employees work and live through volunteerism and grants that benefit children and education.
About the HD Digital Radio Alliance
The HD Digital Radio Alliance is a joint initiative of leading radio broadcasters to accelerate the successful rollout of HD digital radio. Current members include major radio groups and independent station owners: ABC Radio (in Los Angeles and Minneapolis), Beasley Broadcast Group, Bonneville International, CBS Radio, Citadel Broadcasting, Clear Channel Radio, Cumulus, Emmis Communications, Entercom, Greater Media and independent owner Jerry Lee with WBEB Philadelphia. For more information on HD digital radio, visit http://www.hdradio.com.
About iBiquity Digital
iBiquity Digital Corporation is the developer of the HD Radio system, which is powering the AM/FM digital radio revolution. This transformational technology allows AM and FM stations to broadcast digital signals in tandem with their analog signals, providing broadcasters with a platform to offer multiple channels of programming on the same frequency (HD2 multicasting); crystal-clear, CD-quality sound; services such as real-time traffic updates; and scrolling text and graphics content. More than 1,200 HD Radio stations are on the air in the U.S., with more than 600 offering multicasting channels. HD Radio technology is now being tested and adopted in many countries outside the U.S., including Australia, Brazil, Canada, Indonesia, New Zealand, Philippines, Poland, Switzerland, Thailand and Ukraine. iBiquity’s investors are global leaders in the technology, broadcasting, manufacturing, media and financial industries.