YAHOO/RIAA......................
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Wednesday September 6, 7:57 am Eastern Time
Press Release
RIAA and Yahoo! Establish Webcast Licensing Deal
WASHINGTON & SANTA CLARA, Calif.--(BUSINESS WIRE)--Sept. 6, 2000--The Recording Industry Association of America (RIAA), the trade association for record companies, and Yahoo! Inc. (Nasdaq: YHOO - news), a leading global Internet communications, commerce and media company, today announced an agreement that establishes the terms and conditions for music performances broadcast across Yahoo!'s globally-branded network of Web properties.
Since October 1998, Internet companies such as Yahoo! have been broadcasting music online through the statutory license provided under the Digital Millennium Copyright Act (DMCA). Yahoo!'s agreement with the RIAA establishes the terms and conditions for music performances made under this license, and covers music made available by Yahoo! through some of the Web's most popular broadcast destinations, including Yahoo!® Radio (http://radio.yahoo.com) and Yahoo! Broadcast (http://broadcast.yahoo.com), which provide access to more than 525 national, cable, local and Internet-only radio stations.
For other companies who have yet to establish terms and conditions with the RIAA for music performances broadcast online, the U.S. Copyright Office has convened an arbitration to determine the terms of the license.
``Our agreement with Yahoo! confirms that music on the Internet will thrive when parties work together,'' said Hilary Rosen, president & CEO of the RIAA. ``We commend Yahoo! for blazing a trail in the marketplace and demonstrating its commitment to the artists who create music. We are committed to Internet broadcasting as an important outlet for music, and we hope that Yahoo!'s initiative will spur others to follow its lead.''
``As a leader in Internet broadcasting, we are glad to have an agreement with the RIAA which fairly compensates both artists and record companies, while continuing to provide our listeners with an entertaining online music experience,'' said Jeff Mallett, president and chief operating officer, Yahoo! Inc. ``Yahoo! is happy to have reached an agreement with the RIAA that addresses our unique business model as we continue to provide our global audience with a wealth of broadcast music in virtually every musical genre.''
About Yahoo!
Yahoo! Inc. is a global Internet communications, commerce and media company that offers a comprehensive branded network of services to more than 156 million individuals each month worldwide. As the first online navigational guide to the Web, www.yahoo.com is the leading guide in terms of traffic, advertising, household and business user reach, and is one of the most recognized brands associated with the Internet. The company also provides online business services designed to enhance the Web presence of Yahoo!'s clients, including audio and video streaming, store hosting and management, and Web site tools and services. The company's global Web network includes 23 local World properties outside the United States. Yahoo! has offices in Europe, the Asia Pacific, Latin America, Canada and the United States, and is headquartered in Santa Clara, Calif.
About RIAA
The Recording Industry Association of America is the trade group that represents the U.S. recording industry. Our mission is to foster a business and legal climate that supports and promotes our members' creative and financial vitality. Our members are the record companies that comprise the most vibrant national music industry in the world. RIAA members create, manufacture and/or distribute approximately 90% of all legitimate sound recordings produced and sold in the United States. The RIAA's goals for the new millennium are to work with our industry and others to enable technologies that open up new opportunities but at the same time to protect the rights of artists and copyright owners.
Yahoo! and the Yahoo! logo are trademarks and/or registered trademarks of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners.
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Contact:
Yahoo! Inc.
Dean Jutilla, 408/530-5338
djutilla@yahoo-inc.com
or
RIAA
Doug Curry, 202/857-9625
dcurry@riaa.com
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