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SEATTLE, Jun 16, 2003 /PRNewswire-FirstCall via COMTEX/ -- Loudeye Corp. (LOUD) , a leading provider of services for the management, promotion and distribution of digital media, today announced a significant expansion in its relationship with Digital Music Initiative, Inc. (DMI), Japan's premier online music and music video provider. Loudeye and DMI signed a multi-year, seven figure technology licensing and distribution outsourcing agreement through which Loudeye will enable DMI to provide a broadband content service to its Japanese partners. Under the agreement, Loudeye is providing a complete media management and distribution system to support the streaming and downloading of digital audio and video content for DMI to be used with their Broadband ISP and content partners including AOL, Excite, Toshiba EMI, KDDI and NTT Communications, among others.
Loudeye is providing a technology license to DMI for a complete media management and distribution solution, to allow DMI to:
-- Offer a la carte or subscription-based digital downloads;
-- Offer a branded player interface to play both simulated live and
on-demand content;
-- Offer next generation streaming radio including subscription radio;
-- Encode and upload DMI and partner audio and video content;
-- Support the store-and-forward of content by pushing it onto the ISP's
for delivery to consumers; and
-- Enforce digital rights management (DRM) via DRM wrapping and license
key serving, to protect the content from unauthorized distribution.
In addition to licensing Loudeye's solution, DMI will also enter into an outsourced service contract with Loudeye, through which Loudeye will encode and deliver content from its digital music archive, and provide tracking, reporting, rights management and royalty payment calculation for the use of the content. Additionally, DMI is leveraging Loudeye's relationships with independent record labels in conjunction with their own agreements with major Japanese labels.
By using Loudeye's services and infrastructure, DMI significantly reduces its time to market with digital media initiatives and expands its offerings to content partners and ISP customers.
"Just like other parts of the world, Japan's music market has seen a decline in physical CD purchases but a significant increase in the use of digital music acquired online," said Hiroaki Watanabe, CEO of DMI. "Through today's agreement with Loudeye, we can help generate new revenue streams for our partners, labels and artists through digital music downloads while promoting the sale of CDs. Loudeye has been a critical partner in providing the back-end infrastructure and services to support this next generation of music and video distribution."
"This deal essentially provides the infrastructure for DMI to enable their partners to create and operate a digital music downloads business, similar to what we've seen here with the digital music services of Apple and others," said Jeff Cavins, Loudeye's president and chief executive officer. "Japan is the second largest music market in the world behind the U.S., representing approximately $6 billion of the $32 billion worldwide music market. This agreement furthers our global market penetration and enhances our presence in Japan."
About Loudeye Corp.
Loudeye provides the business infrastructure and services for managing, promoting and distributing digital content for the entertainment and corporate markets. For more information, visit
www.loudeye.com.
About Digital Music Initiative, Inc.
DMI is providing the first and only advertisement based Internet solution able to stream major label music content in Japan. With other Internet business related projects in development, DMI continues its efforts to expand the Internet business market in Japan. For further information, visit
www.dmiradio.com.
Forward Looking Statements
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about Loudeye's relationship with DMI and the use, performance, expected benefits and projected revenue associated with Loudeye's digital media distribution infrastructure; as well as statements made by Loudeye's CEO. These statements are based on current estimates and actual results may differ materially due to risks, including the possibility of adverse changes in the market for distribution of digital music that we serve; adverse or uncertain legal developments with respect to copyrights surrounding the creation and distribution of digital music; pricing pressures and other activities by competitors; the failure of our hosting infrastructure; the complexity of our services and delivery networks; any problems or failures in the structure, complexities or redundancies of our network infrastructure; failures in third party telecommunication and network providers to provide required transmission capacity; our capacity to scale and support third party technologies; lack of market acceptance for our products and services; the possible delay in the adoption of digital media or related applications on the web in general; and other risks set forth in our most recent Form 10-Q, Form 10-K and other SEC filings which are available through EDGAR at
www.sec.gov. We assume no obligation to update the forward-looking statements.
SOURCE Loudeye Corp.
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