Loudeye Launches Coke Branded Music Service in NZ
Loudeye Teams with Satellite Interactive to Launch Coke Branded Music Service in New Zealand
LONDON, Aug. 2 /PRNewswire-AsiaNet/ --
Loudeye Corp. (Nasdaq: LOUD), a worldwide leader in business-to-business digital media solutions, today announced it has teamed with Satellite Interactive, a New Zealand based interactive media company, to launch CokeTunes -- a Coca-Cola branded digital music service for the New Zealand market.
The site offers an extensive catalogue of global and local content for customers to download in the New Zealand market. Consumers will also be able to purchase tracks and albums for downloading to their PC using their Telecom mobile phone account as well as through the standard Web-based service with their credit card.
Coca-Cola is supporting the development of New Zealand musicians by donating their proceeds from every track sold to the CokeTunes Music Fund that will make grants to young musicians on a quarterly basis. Musicians can apply for this funding starting November 2005. More information is available online at www.cokefridge.co.nz.
Coca-Cola New Zealand spokesperson Alison Sykora, said: "The CokeTunes Music Fund will also allow us to give something back to the local music community and hopefully help emerging talent from around New Zealand. We hope Kiwi's will get in behind CokeTunes to help support New Zealand music."
"New Zealanders love music and technology so providing them with a compelling New Zealand download site offering such an extensive repertoire of music is a real buzz for Coke," continued Sykora.
Nick Lowe, Director of New Media for Satellite Interactive, said: "The New Zealand market has long awaited the arrival of a digital music service where consumers can download from a large selection of music. We and Coca-Cola are very excited to be a part of this solution."
"It's great to be working with CokeTunes and I'm thrilled that for the first time in New Zealand, Universal Music's current hits and our extensive catalogue will be available to New Zealanders digitally. Most importantly our artists are now legally available online and as such this is an important milestone for New Zealand music," said Adam Holt, Managing Director, Universal Music.
The site will be the eighth Coca-Cola branded site supported by Loudeye. Coca-Cola sites currently operate in UK, Northern Ireland, Eire, Italy, Austria, Switzerland and Poland. It will also be Coca-Cola's first digital music foray into the Pacific region.
Phil Shepherd, Head of Strategic Partnerships for Loudeye EMEA, added: "Loudeye is delighted to have been chosen by CokeTunes for the launch of this store, which represents further evidence of the growing global market for legitimate downloads."
Mike Brochu, Loudeye's President and CEO, added: "The Pacific region is an important territory for Loudeye as the digital market expands further across the globe and to have a partner of Coca-Cola's status involved naturally heightens the awareness of such a site."
About Loudeye Corp. Loudeye is a worldwide leader in business-to-business digital media solutions and the outsourcing provider of choice for companies looking to maximize the return on their digital media investment. Loudeye combines innovative products and services with the world's largest digital music archive, a broad catalog of licensed digital music and the industry's leading digital media infrastructure enabling partners to rapidly and cost effectively launch complete, customized digital media stores and services. For more information, visit www.loudeye.com.
Forward Looking Statements This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this release are based on current estimates and actual results may differ materially due to risks, including the possibility of adverse changes in the market for distribution of digital audio and video that Loudeye serves; complexities of entering new geographic markets for Loudeye's digital media store services; adverse or uncertain legal developments with respect to copyrights surrounding the creation and distribution of digital content; pricing pressures and other activities by competitors; the failure of Loudeye's hosting infrastructure; the complexity of Loudeye's services and delivery networks; any problems or failures in the structure, complexities or redundancies of Loudeye's network infrastructure; failures in third party telecommunication and network providers to provide required transmission capacity; lack of market acceptance for Loudeye's products and services; the possible delay in the adoption of digital media or related applications on the web in general; and other risks set forth in Loudeye's most recent Form 10-Q, Form 10-K and other SEC filings which are available through EDGAR at www.sec.gov. These are among the primary risks we foresee at the present time. Loudeye assumes no obligation to update the forward-looking statements.
SOURCE: Loudeye Corp.
Web site: http://www.loudeye.com