SEATTLE, Dec. 8, 2004 (PRIMEZONE) -- For the first time ever, music fans from around the world now have a one-stop shop to download independent music, as well as tracks from mainstream artists. NetMusic Entertainment Corporation (Pink Sheets:NTMT), a comprehensive worldwide network of digital media, today announced that it has acquired independent music giant Audio Lunchbox. The combination of the NetMusic Entertainment (www.netmusic.com) catalog coupled with Audio Lunchbox (www.audiolunchbox.com) creates the largest online collection of independent music in the world -- a licensed catalog of over one million tracks, incorporating 4000 plus labels.
"We are thrilled to join forces with Audio Lunchbox," said NetMusic Entertainment CEO Glen Starchman. "The acquisition of Audio Lunchbox makes NetMusic the largest independent music community on the Internet."
"We now have the firepower to achieve our vision of bringing great independent bands to the masses," said Morgan Harris, CEO of Audio Lunchbox. "The deal gives Audio Lunchbox a tremendous boost. The acquisition is a win-win-win for the artists, our users and the Company."
NetMusic is set to launch a re-branded interface in January 2005, which is based on the innovative Audio Lunchbox design. The Company has no plans to alter Audio Lunchbox which will remain as an independent arm of NetMusic.com.
In addition to the acquisition, NetMusic recently entered the digital jukebox marketplace via its merger with Ultimate Jukebox, Inc. The Company is also acquiring extensive libraries of major label content and even motion pictures rights.
About NetMusic
Edmonds, Washington-based NetMusic Entertainment is a global digital media company focused on providing consumers entertainment on their own terms: anytime, anywhere. The company offers digital music downloads, digital jukeboxes, video-on-demand and online video rental services across the globe.
Investors interested in obtaining more information about the company are invited to visit: www.netmusic.com/corp.
About Audio Lunchbox
Los Angeles-based Audio Lunchbox, LLC operates the premier digital music service for independent music. The company was originally founded with a common vision: to increase exposure and availability of great independent music. Audio Lunchbox is cross-platform and entirely web-based.
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.