Virgin Megastores Hellas Launches Greek Digital Music Service Powered by Loudeye
June 14 2005 - 4:05AM
PR Newswire (US)
Virgin Megastores Hellas Launches Greek Digital Music Service
Powered by Loudeye Greek Language Service Provides Low Cost, Great
Choice Digital Music Experience ATHENS, Greece and SEATTLE, June 14
/PRNewswire-FirstCall/ -- Virgin Megastores Hellas and Loudeye
Corp. (NASDAQ:LOUD), a worldwide leader in business-to-business
digital media solutions, today announced the launch of a Virgin
Greece digital music service. The service, powered by Loudeye's OD2
services, is designed to give Greek consumers an affordable digital
music package with a wide array of content from a Greek language
site. The service, available at http://www.virginmegadownloads.gr/,
operates on a 'pay-as-you-go' model, meaning music buyers only pay
for what they want. The service will also be supported by a
Pre-Paid Card system, which will allow consumers to purchase music,
not just by credit card, but with a card paid for in advance. These
cards will be available in amounts of 5, 15, or 30 Euros, initially
from Virgin Megastores Hellas and later from other retail outlets
in Greece. Richard Branson, Chairman of the Virgin Group, said:
"Our new service in Greece will be instrumental in giving the
consumer what they want, when they want and at an affordable price
package. Virgin has been a pioneer in the music industry since our
earliest days, and our low-cost Greek digital music service is in
the same tradition. We want to make it simple and low cost for
music fans to sample and buy music digitally." "Music fans are
driving the demand for digital music and now the technology is
there, the industry is behind it and -- with the introduction of
our service -- prices are affordable for all," Branson continued.
Kostas Piladakis, Chairman of Vivere Entertainment and the Virgin
Megastores in Greece, continued, "We've created a service that is
easy, low cost and more importantly assists in the drive against
piracy in Greece. The site will offer a broad catalogue and aim to
support the Greek record industry in its efforts to provide a
digitalized music service to the Greek consumers." The launch of
Virgin Hellas' music service represents the first store in Greece
powered by Loudeye's OD2 services. Philip Shepherd, Loudeye's head
of strategic partnerships -- EMEA said, "Virgin Hellas has launched
a strong digital music offering that will appeal to a wide range of
music fans. Its decision to offer an alternative to the
subscription model shows that digital music can be packaged in a
number of different ways to suit consumer needs and buying
patterns, and we are delighted to be involved with this exciting
development into this new market." About Vivere Entertainment S.A.
and Virgin Megastores Vivere Entertainment owns the license rights
to represent Virgin Megastores in Greece, as well as
http://www.virginmega.gr/ and operates 15 stores across Greece. Its
aim is to seek new and innovative ways for entertainment products
and services within the B2B and B2C Greek market. About Loudeye
Corp. Loudeye is a worldwide leader in business-to-business digital
media solutions and the outsourcing provider of choice for
companies looking to maximize the return on their digital media
investment. Loudeye combines innovative products and services with
the world's largest digital music archive, a broad catalog of
licensed digital music and the industry's leading digital media
infrastructure enabling partners to rapidly and cost effectively
launch complete, customized digital media stores and services. For
more information, visit http://www.loudeye.com/. Forward Looking
Statements This release contains forward-looking information within
the meaning of the Private Securities Litigation Reform Act of
1995. 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 audio and video that Loudeye serves; adaptation to new
international markets; adverse or uncertain legal developments with
respect to copyrights surrounding the creation and distribution of
digital content; pricing pressures and other activities by
competitors; the failure of Loudeye's hosting infrastructure; the
complexity of Loudeye's services and delivery networks; any
problems or failures in the structure, complexities or redundancies
of Loudeye's network infrastructure; failures in third party
telecommunication and network providers to provide required
transmission capacity; lack of market acceptance for Loudeye's
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 Loudeye's most recent Form 10-Q, Form 10-K
and other SEC filings which are available through EDGAR at
http://www.sec.gov/. Loudeye assumes no obligation to update the
forward-looking statements. DATASOURCE: Loudeye Corp. CONTACT:
Maria Kalkakou, Marketing and PR Manager of Vivere Entertainment
S.A. (Virgin Megastores), +30210 6836295, or ; or media, in Europe,
Chris Owen of Trimedia Communications UK, +44 (0)207 471 6851, or
+44 (0)7970 933 680, or , or in the U.S., Karen DeMarco of mPRm
Public Relations, +1-323-933-3399, or , both for Loudeye Corp.; or
investors, Michael Dougherty, +1-206-832-4000, or Web site:
http://www.loudeye.com/ http://www.virginmegadownloads.gr/
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