CMG Holdings Group, Inc. Expands Their Digital Media and Digital Coupon Platform Into New York With the Launch of UsaveNY

MIAMI, FL--(Marketwire -03/16/12)- CMG Holdings Group, Inc. (CMGO) (OTCQB: CMGO.PK - News) (Pinksheets: CMGO.PK - News) www.cmgholdingsinc.com, a full service marketing communications holding company operating across the sectors of digital media, alternative advertising, social media, event marketing and commercial rights, today announced the expansion of their digital media and digital coupon initiatives with the launch of "UsaveNY."

UsaveNY will provide digital savings solutions connecting its clients and customers with small businesses through digital coupons and interactive digital media videos. Operating as a wholly owned subsidiary of CMG Holdings Group, Inc., UsaveNY will initially be based in Westchester, NY and will operate statewide across New York offering small business digital coupon solution to increase their customer interaction and coupon purchases. UsaveNY will provide small businesses with digital media videos to build and strengthen relationships with their clients. Customers, after watching the interactive video commercials within UsaveNY digital network site, will receive digital, mobile or printable coupon offers for immediate savings and incentives from the New York small businesses.

"In connection with our Connecticut and New Jersey digital media platform, UsaveNY expands our offering of digital media commercials to deliver experiential engagements between small businesses and their clients. Consumer purchasing is transitioning to social, digital and mobile coupons from traditional print coupons and UsaveNY will be a critically important platform for New York small businesses to target and engage with their audience via social media, mobile and our interactive platform," said Jim Ennis, Chief Operating Officer of CMG Holdings Group, Inc. "Our digital coupon platform will assist small businesses across New York to effectively sell their products and services directly to their consumers using our mobile and social media. In combination with UsaveCT and UsaveNJ, UsaveNY will provide our clients the platform to buy from small businesses across New York, Connecticut and New Jersey using social media expertise via our public relations specialists, XA Social, www.xasocial.com, and cross promotion services through our interactive marketing firm, The Experiential Agency, Inc. (XA), www.experientialagency.com and mobile marketing strategy and sms-text messaging platforms via our mobile marketing specialists, Audioeye, Inc. www.audioeye.com. Our consolidated offering will save money for our clients by connecting them to digital media commercials of small businesses across New York, New Jersey and Connecticut through our unique interactive video content that will deliver additional levels of strategies and analytical data to improve ROI for small businesses regarding their clients."

"Over the past year, we have been in discussions with the New Jersey Business Action Center (BAC) www.state.nj.us/njbusiness/bac/index.shtml and Connecticut's Department of Economic and Community Development www.decd.org to be a contributing factor as part of their statewide initiative to create jobs and economic growth for small businesses in Connecticut and New Jersey," said Jim Ennis. "We believe UsaveNY will expand our platform as well as contribute to The Westchester County Office of Economic Development http://business.westchestergov.com/economic-development goal to help Westchester's small business prosper, improve job creation and provide significant savings for residents across New York, New Jersey and Connecticut. One of the reasons we are excited to launch in Westchester, NY is their close proximity to both Connecticut and New Jersey which will allow us to hire sales and digital media professionals potentially capitalizing on the digital media tax credit platforms from Connecticut's Office of Film, Television and Digital Media http://www.ct.gov/ecd/cwp/view.asp?a=3880&q=454824 and The New York State Office for Motion Picture and Television Development http://www.nylovesfilm.org/index.asp. As an update, the continued expansion of our Usave digital media and digital coupon platform will be across additional states as partnerships with their state economic development departments in the areas of film and digital media tax credits.. We will work to increase economic growth of small businesses via our social media specialists, XA Social, our interactive marketing firm, The Experiential Agency, Inc. (XA) and Audioeye, Inc., our strategic mobile and sms-text messaging and marketing specialists. Also, as an update regarding the registration statement filings of Audioeye, Inc., the original registration statement filing with the Securities Exchange Commission was filed on October 21, 2011 and the most recent amendment to the registration statement was filed February 13, 2012. For further information, please refer to www.sec.gov."

Companies who are interested in learning more about UsaveNY, our innovative digital coupon platform or CMG Holdings Group, Inc. should visit www.cmgholdingsinc.com or contact Jim Ennis at Jennis@CreativeManagementGroup.com.

About CMG Holdings Group, Inc. (CMGO):
CMG Holdings Group, Inc. is a full service marketing and communications holding company. CMGO's mission is to build a national platform of exceptional companies that deliver solutions in the areas of alternative advertising, social media marketing services, event management and commercial rights. CMGO is seeking to expand its national presence via its acquired companies, capitalizing on their intellectual properties, patents, sales and marketing, new product development and continued operations via economic recovery. CMGO owns and operates wholly-owned subsidiaries, XA, The Experiential Agency, Inc. and Audio Eye, Inc.

For more information, please visit: www.cmgholdingsinc.com

About XA, The Experiential Agency, Inc. (XA):
XA, The Experiential Agency, Inc. is a wholly-owned subsidiary of CMG Holdings Group Inc. and has offices in Chicago and New York from which it provides corporations and highly visible brands with comprehensive event marketing, design, public relations and production services. The XA brand has a 20 year history and its team has been the creative force behind prestigious, national projects for such clients as NBC Universal, Unicef, Harrah's Entertainment, Conde Nast, McDonalds, W Hotels, Emirates Airline and Ritz Carlton.

For more information, please visit: www.experientialagency.com

About XA Social:
XA Social is part of the XA consolidated platform and excels in social media strategy; from a social media 101 seminar, to advising and monitoring, overall management and ROI. XA Social believes social media is not a fad, but rather an extension of good public relations that is here to stay. XA Social creates lasting connections between consumers and brands in order to engage in two way communication. XA Social helps clients build their brands through innovative and authentic social media tactics and aids in creating environments of conversation and engaging relevant consumers with brands through personal interactions.

For more information, please visit: www.xasocial.com

About AudioEye, Inc. (AudioEye):
AudioEye, Inc., founded in 2003, is a wholly-owned subsidiary of CMG Holdings Group Inc. with offices in Tucson and Chicago. AudioEye has developed patented, Internet content publication and distribution software enabling conversion of any media into accessible formats and allowing for real time distribution to end users on any Internet connected device. Audio Eye is focused on creating better and more comprehensive access to Internet, print, broadcast and other media to all people regardless of their network connection, device, location, or any disabilities or disadvantages an individual may have. Audio Eye solutions include comprehensive E-Learning and E-Commerce systems as well as a variety of Internet publishing products and services that enable customers to create and deliver accessible, highly scalable web-based applications.

For more information please visit: www.audioeye.com

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'will,' 'anticipated,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-K; its quarterly reports on Forms 10-Q; and any reports on Form 8-K. CMG Holdings Group, Inc. (OTCQB: CMGO.PK) takes no obligation to update or correct forward-looking statements and also takes no obligation to update or correct information prepared by third parties that is not paid for by the Company.