NEW YORK, May 18, 2004 (PRIMEZONE) -- U.S. performing rights organization, BMI, LTDNetwork Inc. and Singwell International announced yesterday that they have completed a licensing agreement for peer-to-peer technologies designed to enable consumers to download and play songs for free on their PCs, while revenue from targeted advertising will fund the distribution of royalties to artists.
LTDnetwork, Inc. President and CEO, Allan Klepfisz, believes that this alliance may revolutionize the industry by providing a viable solution to allow artists to benefit from their songs, in the free P2P environment. "This software alters the file type thereby permanently attaching digital rights management features to the mp3 files. These include automatic reporting of song plays to BMI (while retaining user anonymity), prevention of downloading of the material for use on other devices without the payment of a fee, and ensuring that the songs can only be shared with others that have the Qtrax software installed that will guarantee that these same features are operating.
"During downloading, legal consumer products including CDs, DVDs, books and posters relating to the artist, will automatically appear on the screen, along with the lowest comparative pricing for these products. Each click onto these products will produce revenue for the artist," he explained.
The digital rights management features have been developed by LTDnetwork, Inc. for installation into Singwell's Qtrax product. The ease of incorporation of this software into any P2P is likely to encourage other applications. The products will be launched in the 3rd quarter, 2004.
Mike Rudd, well-known Australian musician and President & CEO of Singwell International said, "It has taken two-and-a-half years to reach Singwell's goal of facilitating a middle ground between the record industry, songwriters, publishers and the P2P software industry. Each of these industry stakeholders will benefit from the targeted promotion to the consumer we can provide.
"We believe that this long-awaited service is a solution to the current struggle with the P2P dilemma and will open the door to a more profitable way to conduct business in this space," added Rudd.
"I'm just not convinced that the record industry has yet adopted a fully realistic attitude to what is transpiring," said Allan Klepfisz, President & CEO, LTDnetwork, Inc. "There is a new generation that considers it their birthright to download music free. Our goal is to find a way to at least partially satisfy this view while entering into licensing arrangements that provide revenue for the artists and the industry. Being legitimate should not preclude giving consumers what they want."
About BMI
BMI, founded in 1939, is an American performing rights organization that represents approximately 300,000 songwriters, composers and music publishers in all genres of music. Through its music performance and reciprocal agreements, it grants businesses and media access to its repertoire of approximately 4.5 million musical works from around the world.
About Singwell International
Singwell International, an international technology distribution company that distributes Qtrax technology and related P2P products.
About LTDnetwork, Inc.
The company specializes in the development of innovative proprietary software for leading Internet companies in the online advertising, price comparison, music download and gaming sectors. It prides itself in developing products that can significantly and often uniquely enhance the performance of companies in these business segments while providing attractive additional functionality for consumers. It is headquartered in New York City with its R&D facilities in Melbourne, Australia.
LTDnetwork, Inc. currently intends to merge with Advanced Technology Industries, Inc. (OTCBB:AVDIE) during this quarter. (http://www.ltdnetwork.com)