SEATTLE, Jan. 24, 2005 (PRIMEZONE) -- MGI, a lead provider of digital content over electronic networks, and NetMusic (Pink Sheets:NTMT), a global digital media company, are redefining music entertainment over the radio.
MGI and NetMusic.com are redefining the entertainment industry with the launch of a platform that allows radio listeners to download "live station" music like never before.
MGI provides its customizable "white label" digital music platform to thousands of radio station Web sites, featuring downloads powered by NetMusic. The distribution allows music to be cross-licensed between the radio stations and NetMusic, which on its own, controls an extensive library of over one million tracks.
"We are thrilled to join forces with NetMusic," said Jakob Schwerdt, CEO of MGI. "We share a vision of how digital distribution will change the face of the entertainment industry. By combining our capabilities, we are set to benefit from this very unique opportunity like no one else."
This agreement allows MGI to provide NetMusic the technology and platform for managing content, delivering downloads and streaming media, reporting, targeted advertising, promotions and payment processing all in one. Under the agreement, MGI will license and distribute NetMusic content over various distribution channels, while NetMusic will acquire and cross-license via the MGI network.
"The partnership, indeed, allows us to capitalize on the paradigm shift in the music industry by bridging the relationship between artists and fans," said Glen Starchman, CEO of NetMusic Entertainment Corporation.
MGI provides a complete turnkey solution for white label music stores, which is easily integrated into any branded environment. The company provides content, management, delivery, payment platform, real time reporting and the promotional and targeted advertising tools. Other than common music download services, the solution is completely transparent and fully integrated and co-branded to each specific radio station, magazine, cable provider or any other kind of vendor.
Edmonds, Washington-based NetMusic Entertainment Corporation (Pink Sheets:NTMT) (www.netmusic.com/) 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. NetMusic also offers the largest online collection of independent music in the world - a licensed catalog of over one million tracks, incorporating 4000 plus labels.
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.