Coca-Cola Blastbeat (IRL) Teams With Kaltura to Empower Its Teen Music & Multimedia Business Project With Collaborative Videos

DUBLIN, IRELAND and NEW YORK, NY--(Marketwire - October 29, 2008) - Blastbeat Ltd, the creators of the Coca-Cola Blastbeat programme in Ireland, the award winning Teen Music & Multimedia Business project (www.blastbeat.org), and Kaltura, Inc. (http://www.kaltura.com), developer of the first open source video platform for video management, creation, interaction, and collaboration, announced today that the companies have partnered in order to add advanced video functionalities to the Blastbeat.tv and Blastbeat.org sites. The goal of the partnership is to further enhance Blastbeat's teen music and multimedia experience with interactive and collaborative video capabilities, offering a new way for music to be produced and discovered.

"Blastbeat is all about innovation and community, providing teenagers worldwide with a way to learn and express themselves through a fun and exciting project," said Blastbeat CEO Karl Power. "Seeing that video and music go hand in hand, we felt it was critical to include an advanced video solution. Kaltura's wide range of flexible and interactive video features and functionalities were best suited to our specific needs."

Using the technology, groups of teens from all over the world can partner in order to produce and distribute original music in a variety of genres, and create collaborative music mashups. Blastbeat teenagers organize themselves into Music & Multimedia Companies (MMCs), with each member of the company taking on a different job description such as CEO, Sales & Marketing Manager, Talent scout, IT Manager, Video Crew, Photographer, Journalist etc ultimately producing a Battle of the Bands concert in order to identify the best musical talent in their areas.

"We are super excited to be working with Blastbeat. It's a great fit for the product and it pushes our functionality forward; but more importantly, we share the same values of promoting innovation, community, openness, and education, particularly amongst teens," said Ron Yekutiel, Kaltura Chairman and CEO. "Our pioneering open source video platform continues to gain traction in the marketplace. We are proud to offer a low-cost, flexible, and extendible alternative to the proprietary video solutions out there."

About Blastbeat

Blastbeat is an award winning, fun & exciting, new Teen Music & Multimedia Business project offered to high schools around the world to teach entrepreneurial business skills, promote young musicians, and support youth communities on a local and global level. Winning Music & Multimedia Companies and other promising teen talent across all categories are brought into the Blastbeat youth community to mentor the next group of community recruits, organize indie music concerts, drive digital content creation, and to potentially become employees of Blastbeat in our growing global music and multimedia youth community. All content is posted onto the Blastbeat social and creative networking site (www.blastbeat.tv) and is also spread by members to other social networks, blogs, and bulletin boards. Top bands are signed to Blastbeat Records and are promoted throughout Blastbeat's online and offline network.

About Kaltura

Kaltura has developed the first open source video platform for video management, creation, interaction and collaboration. Kaltura's platform enables any site to seamlessly and cost-effectively integrate advanced interactive rich-media functionalities, such as searching, uploading, importing, video editing, annotating, remixing, and sharing of video, audio, and photo files. The platform also includes unique collaboration functionalities that allow groups of users to create together, and enables publishers to access and syndicate reusable content across the Kaltura Network of content and to enjoy aggregated hosted video services such as video advertising, professional editing, and DVD printing. Kaltura's free open source code is available for web developers in the form of an extensive Software Development Kit, as well as self-serve packages for publishers in the form of automatic extensions and plugins for leading content management, blogging and collaboration platforms such as Drupal, WordPress, and MediaWiki.

Founded in 2006, Kaltura's management and advisory team includes top notch advertising, marketing, and media executives as well as open source experts and seasoned technology entrepreneurs, including co-founders of ICQ, Cyota, and Destinator Technologies. Since its public launch in September 2007, New York-based Kaltura has won numerous awards and endorsements, including the TechCrunch40 People's Choice award (2007), the Mashable video-sharing 'Open Web' award (2007), a TWS 'top 10' company (2008), an AlwaysOn 'Global 250' company (2008), and one of Esquire Magazine's 'most promising' Web 3.0 companies (2008). For more information, visit http://www.kaltura.com.

Contact Information: Lisa Bennett Kaltura (212) 981-3965 lisa.bennett@kaltura.com