Monster EBLD news this AM. Sony taking equity stake in EBLD:
Sony Music Entertainment and Vidnet.com Sign Music Video License; Sony Takes Equity Stake in Entertainment
Boulevard, Inc.
LOS ANGELES, March 16 /PRNewswire/ -- Entertainment Boulevard, Inc. (OTC Bulletin Board: EBLD - news), one of the leading streaming media providers on the Web, announced today that it has signed a licensing agreement with Sony Music Entertainment Inc., granting Entertainment Boulevard the right to stream new release music videos from Sony Music artists on Vidnet.com (www.vidnet.com). Sony Music will receive a licensing fee for the streaming of its videos as well as an equity stake in Entertainment Boulevard.
Vidnet users will now be able to stream online music video selections from Sony Music Entertainment companies, including Columbia Records, Epic Records, and Sony Music Nashville on the Vidnet.com Web site. Videos will be available through pre-programmed music channels in the RealPlayer and Windows Media formats at speeds of 28K, 56K, 100K and 300K.
``We're thrilled to add new release music videos from Sony Music label artists to the list of those comprising the content of our site,' said Stephen Brown, CEO of Entertainment Boulevard. ``The addition of these music videos brings our selection to a whole new level.'
``Entertainment Boulevard is a forward thinking company, and we're excited to be working with them,' remarked Mark
Ghuneim, vice president, Online & Emerging Technologies, Columbia Records.
``Sony Music is always on the lookout for new ways to reach as many music fans as possible, and Vidnet is a great venue for showcasing our artists' videos,' said Jim McDermott, vice president, Online & Emerging Technologies, Epic Records Group.
About Sony Music Entertainment:
Sony Music Entertainment (SME), a leading global producer, manufacturer, and marketer of recorded music and video, has a
presence in 60 countries. In the past year alone, SME has aggressively expanded its online presence with key investments in such leading online companies as Acuity (now Quintus), ARTISTdirect, AudioBase, Digital On-Demand, Dobedo, Exactis, i3 Mobile, Intertainer, JFAX, lastminute.com, Launch Media, Listen.com, MongoMusic, OnRadio, Platform.net, Spinner.com, TalkCity and Yupi.com. The company has also acquired leading email publishers InfoBeat and EMAZING.com.
About Vidnet.com:
Vidnet, www.vidnet.com, is a division of Entertainment Boulevard, Inc. (OTC Bulletin Board: EBLD - news). Vidnet is one of the leading providers of streaming entertainment-related media on the Internet. Among the firm's Web sites is one of the most comprehensive interactive music video channels on the Web. Vidnet's music site has rapidly become a premier music destination site on the Internet. The firm's mandate of Internet global expansion includes not only increasing the content base
and broadening the network channels on the Vidnet network, but also acting as a content aggregator to some of the largest companies on the Web. Based in Los Angeles, Vidnet continues to aggressively develop and implement strategic alliances with key commerce and entertainment companies, broadening its presence worldwide.
Forward-looking statements in this press 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, the continued popularity of the Company's websites and product orders stemming therefrom, increased levels of competition, technological change, dependence upon third party suppliers, and other risks.
SOURCE: Entertainment Boulevard, Inc. |
