MediaBay and Loudeye Join Forces in Audiobook Distribution Agreement
December 08 2004 - 9:00AM
PR Newswire (US)
MediaBay and Loudeye Join Forces in Audiobook Distribution
Agreement Deal Provides Digital Distribution of MediaBay's
Audiobooks Catalog to Loudeye's Online Retail Partners CEDAR
KNOLLS, N.J., Dec. 8 /PRNewswire-FirstCall/ -- MediaBay (NASDAQ:
MBAY), a leader in spoken audio entertainment today announced an
audiobook distribution strategy to be powered through a multi-year
agreement with Loudeye Corp. (NASDAQ:LOUD), a worldwide leader in
business-to-business digital media solutions. Loudeye is working
with MediaBay to provide a complete solution for powering digital
distribution of a wide range of audiobooks. MediaBay has a database
of more than 2.9 million names of spoken word buyers and
enthusiasts. Under the multi-year contract, MediaBay is making
available its audiobook content catalog to Loudeye for domestic
distribution to new and existing Loudeye partners, allowing
MediaBay to significantly broaden the reach and availability of its
catalog. Loudeye and its OD2 services have relationships with more
than 70 web storefronts and music services throughout the United
States, Europe and Australia. "Our audiobook content is popular
with a diverse and loyal customer base spanning into the millions,"
said Jeffrey Dittus, MediaBay's chief executive officer. "We wanted
a way to make our content more accessible to customers as well as
effectively present and promote content to new, potentially
interested listeners. By working with Loudeye we're able to rapidly
meet these objectives without a significant time or resource
investment on our part. By partnering with Loudeye, we will open up
new channels of distribution for our catalog and increase the
exposure across a wider customer base." "This contract with
MediaBay demonstrates the opportunities for traditional media
companies and organizations with significant analog content to
launch a digital distribution strategy that can help monetize their
content across the growing digital distribution channel," said Jeff
Cavins, president and chief executive officer of Loudeye. "By
working with us, MediaBay is able to focus on the integration and
execution of this new strategy within their business without having
to worry about the complexities involved in digitizing and
fulfilling content. Additionally, this deal provides distribution
potential for MediaBay across our music stores." About MediaBay
MediaBay, Inc. (NASDAQ:MBAY) is a multi-channel, media marketing
company specializing in the $800 million audiobook industry and
old-time radio distribution. MediaBay's industry-leading content
library includes over 50,000 classic radio programs, 3,500 film and
television programs and thousands of audiobooks. MediaBay has begun
digitizing and encoding its library of spoken word content and once
the content is digitized, the Company expects to make it available
for download on the many evolving music services and content stores
that are proliferating on the Internet. For more information on
MediaBay, please visit http://www.mediabay.com/ or its subsidiary
sites: http://www.audiobookclub.com/, http://www.radiospirits.com/,
and http://www.radioclassics.com/. 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
music archive 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 Loudeye 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 media that Loudeye serves;
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.
MediaBay Forward Looking Statements Certain statements in this
press release constitute "forward-looking" statements that involve
a number of known and unknown risks, uncertainties and other
factors which may cause MediaBay's actual results, performance or
achievements to be materially different from any results,
performances or achievements express or implied by such
forward-looking statements. All statements other than statements of
historical facts included in this press release including, without
limitation, statements regarding our future financial position,
business strategy, budgets, projected costs and plans and
objectives of MediaBay's management for future operations are
forward-looking statements. In addition, forward-looking statements
generally can be identified by the use of forward-looking
terminology such as "may," "will," "expect," "intend," "estimate,"
"anticipate," "believe," or "continue" or the negative thereof or
variations thereon or similar terminology. Important factors that
could cause actual results to differ materially from expectations,
include, without limitation, MediaBay's history of losses; the
success of its new digital media distribution strategy and new
Larry King initiatives, its ability to anticipate and respond to
changing customer preferences, license and produce desirable
content, protect our databases and other intellectual property from
unauthorized access, collect receivables; dependence on third-party
providers, suppliers and distribution channels; competition; the
costs and success of our marketing strategies; product returns;
member attrition and other risks detailed in its Annual Report on
Form 10-K for the year ended December 31, 2003. Undue reference
should not be placed on these forward-looking statements, which
speak only as of the date hereof. MediaBay undertakes no obligation
to update any forward-looking statements. For Loudeye: Media/press
contact (U.S.): Candice Yusim/Karen DeMarco, mPRm Public Relations,
323-933-3399, , Media/press contact (Europe): Simon Hill, Trimedia
Communications UK for Loudeye, +44 (0)207 471 6826 or +44 (0)7776
251192, Investor relations: Michael Dougherty, 206.832.4000, For
MediaBay: Investor relations: Jeffrey Dittus, MediaBay, CEO,
973-539-9528, Tim Clemensen, Rubenstein Investor Relations,
212-843-9337 DATASOURCE: MediaBay CONTACT: U.S.: Candice Yusim, ,
or Karen DeMarco, , both of mPRm Public Relations, +1-323-933-3399;
or Europe: Simon Hill of Trimedia Communications UK,
+44-207-471-6826, +44-7776-251192, , or Investor relations: Michael
Dougherty, +1-206-832-4000, , all for Loudeye; Investor relations:
Jeffrey Dittus, CEO of MediaBay, +1-973-539-9528; or Tim Clemensen,
Rubenstein Investor Relations, +1-212-843-9337, for MediaBay Web
site: http://www.mediabay.com/ http://www.audiobookclub.com/
http://www.radiospirits.com/ http://www.radioclassics.com/
http://www.loudeye.com/
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