09:06 AM BW Planet Entertainment's Website, Planetentertainment.com Approved as Amazon....
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Planet Entertainment's Website,Planetentertainment.com Approved as Amazon.com Associate
January 11, 1999 09:06 AM
MIDDLETOWN, N.J.--(BUSINESS WIRE)--Jan. 11, 1999--
Site Customers To Have Access to the Largest Selection of Books
on the Internet
Planet Entertainment Corp. PNEC , announced today that its e-commerce site, www.planetentertainment.com has been approved by Amazon.com AMZN as an official Associate.
This association with Amazon.com provides customers of www.planetentertainment with direct access to the largest selection of books on the Internet today. The Company will also be eligible to receive referral fees of up to 15% on sales of qualifying items generated from its site as well as direct links from Amazon.com, which will help drive web traffic to www.planetentertainment upon its launch later this month. In addition, being an Amazon.com Associate provides additional assurance for the Company's customers that they are receiving the highest level of service available on the Internet.
"The ability for our customers to have access to Amazon.com's library of more than 2.5 million books combined with planetentertainment.com's existing selection of over 130,000 music, video and DVD titles makes the upcoming launch of our site more exciting," said Wallace M. Giakas, Chairman of Planet Entertainment Corp. "We believe that the synergy between our site and Amazon.com will help sales and fuel repeat business from a significantly broader customer base. The heightened exposure that this brings to our Company, combined with the increased traffic expected to result on our e-commerce site, also creates attractive new marketing opportunities for our proprietary compilation CDs."
Planet Entertainment is a diversified entertainment company specializing in music production and wholesale distribution and marketing of front-line recorded music and video titles as well as its proprietary CD compilation albums. The Company, which operates a wholesale distribution facility, two wholly owned recording studios and four record labels, is principally engaged in the acquisition, enhancement, licensing and re-release of music from its extensive library of over 15,000 original musical master recordings as well as the production of new artist albums. In order to provide efficient distribution and marketing for its products, the Company recently acquired all of the issued and outstanding common stock of Northeast One Stop, Inc. (NEOS), a privately held wholesale distribution facility of recorded music and video products based in Albany, NY. NEOS has access to over 130,000 front-line titles and was named the 1997 Medium Wholesaler of the Year by the National Association of Record Manufacturers (NARM). The Company plans to operate NEOS for centralized order fulfillment as well as to market and sell its compilation CDs either directly to retailers or indirectly over the Internet on its business to business website, www.planetentertainment.com.
Special Note Regarding Forward-Looking Statements: a number of statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks include but are not limited to: the Company's vulnerability to rapid change, technical obsolescence, limited customer base and reliance on relatively a small number of its customers, the possible impact of competitive products and pricing, uncertainties in the duration of the life cycle of its products, manufacturing difficulties, dependence on key personnel, market acceptance, reliance on a limited number of outside vendors, potential difficulties, managing growth, the ability to perform on existing and future agreements, the availability to perform on existing and future agreements, the availability of financing, and other risks all, or any of which may have a materially adverse impact on the company, its business, business prospects, and financial condition.
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