Big news on GNEN. GNEN and VR-1 to create music for VR-1's upcoming three online games for America Online's (AOL) Xtreme Game Channel.
Tuesday March 9, 7:01 am Eastern Time
Company Press Release
Generation Entertainment Corp's M3 & VR-1 Form Agreement to Create and Market Soundtracks for Massively Multiplayer Internet Games
CHICAGO--(BUSINESS WIRE)--March 9, 1999--Today, Millenium Music & Media, Inc. (M3), a division of Generation Entertainment Corporation (OTC BB:GNEN - news), announced that it has contracted with VR-1, Inc. to create music for VR-1's upcoming three online games for America Online's (AOL) Xtreme Game Channel.
M3 will also distribute these soundtracks worldwide to regular retail channels as well as computer software chains.
The initial game under the agreement will be Nomads of Klanth, tentatively scheduled to debut on AOL's Xtreme Game Channel in June of this year. This title will be followed by VR-1 Crossroads, the first online game to use Microsoft's DirectMusic, and The S.A.R.A.C. Project later in the year.
''It was a natural tie-in for cross promotional campaigns and will further enable VR-1 to penetrate the retail music channels and
computer software stores while giving M3 direct sales potential through the Internet. The demographics speak for themselves,'' said David Chackler, president, M3. ''The gaming audience is almost exactly the same as our most active buyers and both companies stand to benefit economically.''
Chackler, who is a music industry veteran, has also created and distributed music and soundtracks for over thirty feature films and television shows. This background, in addition to M3's expertise in the new technologies, led to this agreement.
M3 is planning for three game soundtracks in 1999 from VR-1. All three soundtracks will be distributed through Slipdisc/Mercury/Universal for distribution to mainstream music retailers. Negotiations are ongoing for the distribution to computer software retailers and will be announced within the next two weeks. Additionally, game players will be able to order the soundtracks directly from M3, while online. This will occur through the use of a hyper-link built into the game, which will direct the players to the M3 Website where they can order the soundtrack. Additional online retail outlets are also being lined
up currently for fulfillment, including Generation Entertainment's own online retail Website cdmusic.com.
The soundtracks will consist of 2LP sets and contain not only the music, but also enhanced graphics for the games, screensavers
and cross-promotional opportunities to market both the game as well as the soundtrack to the target audiences.
''We are extremely excited about this new venture with M3. We believe M3 will help us maximize our exposure and create new revenue streams. This is the perfect marriage of music and new technology and will result in new ground breaking methods of exposure for the games and the music,'' comments Christopher Blisard, VR-1's senior VP of business development.
About M3
Located in Chicago, M3 is the brainchild of David Chackler, successful veteran of the music and film industries. With everyone clamoring for a piece of the Internet pie, Chackler felt that the natural affinity of those avid Internet gaming fans for music that enhances their gaming experience was inescapable, and with the number of gamers growing daily this would be a great opportunity to market music directly to them.
It was this premise that launched M3. The company had the background and expertise to create as well as distribute the product. Along with Chackler, M3 has brought in Grammy Award-winning producer Neil Kernon, who also is immersed in the new technologies and one of the leading proponents of new methods to improve the quality of music on the Internet.
M3 is also equipped to distribute, market and promote the soundtracks on a worldwide basis.
About VR-1, Inc.
Headquartered in Boulder, Colorado -- with development facilities in Canada, Japan and Russia -- VR-1, Inc. is a truly global company that operates 24 hours a day. Using its sophisticated VR-1 Conductor technology, VR-1 creates ''massively multiplayer'' online games that are licensed to leading online service providers around the world.
In North America, VR-1 has a multi-title distribution agreement for premium interactive content with America Online's Games Channel and developed the first two ''premium'' games available on The MSN Gaming Zone. International distribution partners include: British Telecom (United Kingdom); Bertelsmann AG and Deutsche Telekom (Germany); France Telecom (France); Videotex (Netherlands); Sony Communication Network (Japan); and Samsung SDS and Dacom (South Korea). Additional
information about VR-1 can be found on the World Wide Web at vr1.com.
Note to Editors: Forward looking statements in this 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, continued acceptance of the company's products, increased levels of competition for the company, new products and technological change, the company's dependence upon third-party suppliers, intellectual property rights and other risk detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
Contact:
Millenium Music & Media, Inc. (M3), Chicago
David Chackler, 773/645-3200
or
Generation Entertainment Corp., Scottsdale
Marianne Smith, 602/367-1717
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