Season 5 | Episode 504 | EP504
In Season 5, Episode 4 of Shark Tank, DJ R Dubs approached the Sharks seeking an investment of $75,000 in exchange for 10% equity in Sunday Night Slow Jams. The company is currently based in San Diego, California.
Sunday Night Slow Jams is a syndicated radio show operating out of San Diego, California. It is hosted by DJ R Dubs and attracts a number of talented musicians as guests each and every week. DJ R Dubs had entered the room seeking investment in order to expand his business. As a syndicated radio station, Sunday Night Slow Jams would need to attract advertisers before it could sell itself to radio stations looking to broadcast a show of this nature. Without advertisers then Sunday Night Slow Jams would be stuck on the small amount of networks that it had managed to reach already.
Sunday Night Slow Jams was seeking $75,000 in order to invest in a salesman. Now, the Sharks are not normally keen to invest when the money would be used for wages as opposed to growth of the business. The truth however is that the company would be unable to expand with a salesman in place looking to attract advertising. As a result this was not a ‘turn off’ factor for the Sharks. However they did believe that if this was the only thing standing in the way of rapid growth then DJ R Dubs would not need investment. They believed that he could probably achieve the growth that he desired by paying his salesman a commission on advertising sales.
The real sticking point for the Sharks is the fact that the Syndicated Radio Business is terrible. It makes next to no money nowadays. Not only are there other companies out there attempting to get on the air waves but those who run radio shows also have to deal with the wealth of technology out there which can deliver music without the radio even having to be switched on. None of the Sharks believed that they could make their money back for this reason. They all promptly pulled out.
As Sunday Night Slow Jams was unable to attract interest from the investors, DJ R Dubs left the Shark Tank empty-handed.
Sunday Night Slow Jams was unable to attract any interest from the Sharks with each of them going out rather rapidly without even the slightest indication that they would be willing to part with their cash.