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RealNetworks, Partners to Make Series of Announcements Monday
RealNetworks, Partners to Make Series of Announcements Monday
Seattle, April 28 (Bloomberg) -- RealNetworks Inc., the No. 1 maker of software used to access audio and video online, said it and a variety of partners will make a ''significant series'' of announcements on Monday.
RealNetworks Chairman and Chief Executive Rob Glaser and other executives will host the news conference. A RealNetworks spokeswoman declined to give details. The company provides software and services for sending and receiving audio and video over the Internet, known as streaming media.
RealNetworks is facing growing competition from Microsoft Corp., the world's biggest software company, which today announced the creation of a streaming media division and earlier this month pushed into online music. Two weeks ago RealNetworks agreed to acquire closely held Xing Technology Corp. to expand its online-music activities.
RealNetworks, which is based in Seattle, has about 85 percent of the streaming media market. Microsoft, which is based in nearby Redmond, has about 10 percent.
The worldwide streaming-media market could soar to $60 billion in 2003 from $12.6 billion last year, said Christine Perey of Perey Research and Consulting. Video conferencing has accounted for much of the market to date, while entertainment and communications are expected to drive future growth, she said.
Shares of RealNetworks rose 2 7/8 to 184. Microsoft fell 1 7/8 to 82 1/38.
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