Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Sal D who wrote (13702)	2/7/1999 8:45:00 PM
From: Sal D	Read Replies (1) \| Respond to of 29382

This from an article in my local newspaper, looks interesting. Planet Entertainment (PNEC) is a fully reporting BB stock and will be filling for NASDAQ listing within 30 days. The company markets compilation recordings from it's catalog of more than 15,000 original master recordings of artists including Ray Charles, Marvin Gaye, Lena Horne, Kenny Rodgers, Dolly Parton and Luciano Pavarotti. The company also is recording and marketing original artists work and has plans for Internet sales, it's web site www.planetentertainment.com should be open for retail business in about 30 days, selling compilation albums and more than 120,000 titles offered by Northeast. They own two recording studios and also owns Northeast One Stop Inc., a medium sized wholesale distributor of recorded music, videos, and DVD products. First quarter revenue 1998 $202,156 First quarter revenue 1999 $14.98 million Net income first quarter 1998 loss of $51,516 Net income first quarter 1999 $469,084 Figures for the most recent quarter include results of Northeast One Stop Inc., which was acquired in September 1998. Planet entertainment is set next month to release the first of 70 compilation compact discs of songs gleaned and digitally remastered from the company's catalog of 15,000 master recordings of artists ranging from Fats Domino and Conway Twitty to Luciano Pavarotti and Tony Bennett. The company will begin distribution of compilation recordings in Europe and Africa at the same time. A Japanese company, Nippon Columbia Co. Ltd., already has released 50 compilation albums in Asia, with Planet's licensed songs. Northeast One Stop gives the company an outlet to market it's recordings. Compilations account for 40% of all music sold worldwide, Planet entertainment has one of the largest independent catalogs in the United States. Last June , Planet entertainment raised $5 million through a stock sale. It was a private placement. They used the money to buy Northeast One Stop. They bought the company for $2.25 million in cash and a $750,000 note. So now, unlike other major Internet retailers such as CD now Inc. and N2K Inc. Planet Entertainment can buy it's products directly from major record manufacturers and independent record labels. They say they will probably be more price competitive then anyone else out there. Projections are that Planet entertainment will generate between $50 million and $60 million in revenue this year through Northeast One Stop alone. The company expects to sell about 30,000 copies of each compilation album over 5 years. they are releasing 25 additional albums each quarter after the first release. Charts look OK too. Joe P.S. For anyone who read this whole thing here is a bonus question worth 10 points. One of the people that formed the company is Joseph Venneri he is an original member of what pop group?