SEATTLE, Nov. 29, 2004 (PRIMEZONE) -- NetMusic Entertainment (Pink Sheets:NTMT) announced today that it will acquire a significant stake in Scream Networks (http://www.screamnetworks.com), a digital media distribution software company. The terms of the deal were not disclosed.
"The investment in Scream Networks allows us to more aggressively enter into the digital media space, including distribution of movies and other video content," says Glen Starchman, NetMusic Entertainment's CEO. "Scream's innovative technology will be the backbone of our video distribution initiative and will allow us to enter into the rapidly growing set-top box market."
NetMusic Entertainment will be offering a subscription service to consumers in the second quarter of 2005 that will combine all of the music and all of the video a consumer may want for one low monthly price. The service is part of the company's "Your Life. Your Way." campaign and is designed to offer consumers the best alternative to traditional cable company offerings.
ABI Research has predicted that the market for Internet protocol (IP) set-top boxes will grow at least four times faster than satellite and cable-based set-top boxes.
About NetMusic Entertainment Corporation:
NetMusic Entertainment (http://www.netmusic.com/corp) is a global digital media company focused on providing consumers entertainment on their own terms. The company offers digital music downloads, digital jukeboxes, video-on-demand, and online video rental services across the globe.
NetMusic's flagship website (http://www.netmusic.com), first went into operation in 1995 as a directory of music-related information. In 2004 the company launched an enhanced version of the site focused on digital distribution of music. Later in 2004 the company entered the digital jukebox marketplace via a merger with Ultimate Jukebox, Inc.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although NetMusic Entertainment Corporation believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by NetMusic Entertainment Corporation or any other person that the objective and plans of NetMusic Entertainment Corporation will be achieved.