Published: October 11, 2004
Sounds 24-7 Acquires Rights to Sell Online Digital Music Stores
Stock Transaction With ItsFun.Com Secures Rights
Sounds 24-7, Inc. has acquired
exclusive rights to market and sell online digital music stores from
ItsFun.com. In a stock transaction, Sounds 24-7 will thus be able to sell
the stores to entities such as radio stations, record labels, distributors
and the artists themselves.
Online digital music stores bearing the name of the radio station will
build on the stations established Listener loyalty and brand recognition
and use Sounds 24-7's operating system to sell music. "It's a big pie with
Forrester Research estimating the music download business will be worth
some 3 billion dollars annually." Consumers can purchase complete Label's
CDs, Independent Artists' CDs or buy singles so they can customize
compilations or purchase complete compilations by favorite, radio program,
or DJ.
The online digital stores will be operated by the Sounds 24-7, and will
utilize its licensed technology for uploading and downloading music, along
with promotional materials for the artists and labels. Each of the
independent online digital stores will carry the full inventory from
ItsFun.com, along with specific permission based music of Sounds 24-7
uploaded to the store.
It is anticipated that 1500 radio stations worldwide might want to offer
music for sale in this manner, as will the labels, artists and
distributors.
Sounds 24-7 is poised to revolutionize the way music is promoted and
sampled in the industry. Artists and labels can upload demo recordings and
albums to the library, along with promotional materials. Authorized radio
stations and club DJ's can then pull off the music they want to give
airplay. Sounds 24-7 eliminates many costly and time-consuming steps in
getting demo records out to the radio stations and DJ's. The site is
offering several incentives for listings during the start up period which
will essentially provide the services for nothing to those who sign up
early.
Forward-looking Statements in this release are made pursuant to the Safe
Harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks
and uncertainties, including, without limitation, continued acceptance of
the company's products, increased levels of competition for the company,
new products and technological changes, the company's dependence upon
third-party suppliers, intellectual property rights, and other risks.
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