DOWNERS GROVE, Ill.--(BUSINESS WIRE)--March 19, 1999--Platinum Entertainment, Inc. (NASDAQ: PTET) and Pioneer Entertainment (USA) today announced plans to jointly develop and create "Animetronic," a series of unique, multiple format music and video releases that combine Japanese animation with original, new electronic music compositions. Terms of the partnership were finalized at the Winter Music Conference in Miami by Steve Devick, Platinum president and CEO, and Yosuke "James" Kobayashi, president of Pioneer Entertainment.
"This is an exciting venture that will allow Platinum and Pioneer to take the best advantage of their respective strengths in the marketplace," said Devick.
"New technology is providing the means to bring successful catalog titles to new audiences," Kobayashi added. "This partnership presents an ideal opportunity to further implement the assets of both companies."
Officials from Pioneer and Intersound, Platinum Entertainment's electronic music imprint, were brought together by Grammy-nominated hyperdisc artist and producer Daisuke Hinata, who conceived the "Animetronic" project and will contribute to the conceptual album. "Anime," also called "manga" or "Japanimation," presents a hyper-realistic style of animation in a variety of genres, from science fiction and action, to drama and romance stories.
The joint agreement calls for Pioneer Entertainment to release and distribute the "Animetronic" series in the DVD and VHS formats. The digitally mastered DVD will feature Dolby Digital 5.1 "surround sound," and an interactive menu that allows users to view alternative angles for each video, plus special artist interviews, trailer footage and extensive production notes.
Intersound, whose catalog includes "Freedom: Thee Sound of Zen," a two-disc compilation featuring electronic music's top DJs and composers, as well as critically-acclaimed releases by Trip Theory, Duke Mushroom, and Kram Records artist Mariner, will produce and distribute the "Animetronic" soundtrack on compact disc. Tracks will be delivered to Pioneer Music and edited into a visual tapestry of animated video clips, set to the pulse of electronic music.
Pioneer's animation production and distribution expertise already has claimed a significant portion of the fast-growing anime market with such titles as "Tenchi Muyo" (winner of the OVA Premiere Award) and "Armitage III -- Polymatrix," as well as the mass market children's animation category for world famous titles such as "Pokemon" and "Dragon Ball Z."
Pioneer Entertainment (USA) L.P., of Long Beach, CA, is a subsidiary of Pioneer Electronics Corporation (Japan), the world-renowned manufacturer of high quality audio/visual consumer electronics. Pioneer Entertainment's film division has produced licensed laserdiscs for such premiere titles as "Titanic," "Terminator 2," and "One Flew Over the Cuckoo's Nest," as well as DVD releases for "La Femme Nikita," "The Texas Chainsaw Massacre" and many others.
In the music category, Pioneer Entertainment has a long tradition of high quality video programs under the Pioneer Artists and Pioneer Classics labels, featuring releases by the Beatles, John Lennon, Queen and the Beastie Boys.
Platinum Entertainment produces, licenses, acquires, markets and distributes high quality recorded music for the gospel, country, blues, adult contemporary, urban/dance and classical formats, primarily under its Platinum, CGI Records, House of Blues Music Co., River North Records and Intersound labels. Platinum's products include new releases by established as well as emerging artists, as well as compilations that enable Platinum to exploit its catalog of master recordings. Most of these recordings are distributed to retail outlets though Platinum Distribution. Platinum also conducts direct-to-consumer sales at www.PlatinumCD.com, and has created a "virtual inventory" of song titles that can be purchased individually, via the company's equity investment in Musicmaker.com, a custom CD and music download Web site.
CONTACT:
Platinum Entertainment
Bill Paige, 630/769-0033, Ext. 236
bpaige@pt-ent.com
or
The Wasserman Group
Brian O'Neal, 323/651-0253
brian_oneal@yahoo.com
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