Destiny Announces Distribution of MP3 Music with ValuSoft, GT Interactive, Walmart - Features New Release by Bill Wyman in Unique Secure MP3 Format
VANCOUVER, British Columbia - October 8, 1999 - Destiny Software Productions Inc., a wholly owned subsidiary of Euro Industries Ltd. (Pink Sheets: DSNY), is pleased to announce a publishing deal with ValuSoft Inc. A collection of MP3 music will be bundled with the Destiny Media Player™ and will be distributed globally by GT Interactive (NASDAQ: GTIS). Walmart has placed an initial order of 20,000 units, which will be available to consumers by the end of October 1999.
This CD will be the first in a series of MP3 music collections produced by Destiny. Volume 1 of MP3 Jukebox includes a new independent release by Bill Wyman, bass guitarist of the Rolling Stones. This premier release will also feature sixty artists who have partnered with the company. CD's in this series will each contain up to 150 songs in the MP3 format and will sell for $9.95.
"This is the first MP3 compilation to be sold in the North American retail channels," states Steve Vestergaard, Destiny's CEO. "We expect this title to sell extremely well because of the increasing consumer awareness for the MP3 music format and because we are first to market. We are very pleased to see that a retailer, the caliber of Walmart, sees the potential of this new hybrid category which appeals to both the music and computer software channels."
The Destiny Media Player™ plays CDs, MP3s, .wav and MIDI files and receives internet radio stations broadcasting on the RadioDestiny Broadcast Network™. To date, 6500 broadcasters have registered to use the free broadcast software. This proprietary webcasting technology competes with software offered by Real Networks (NASDAQ: RNWK) and Microsoft (NASDAQ: MSFT). The Destiny Media Player™ and RadioDestiny Broadcaster™ software are available for download from http://www.radiodestiny.com.
Destiny Software Productions, Inc. was founded in 1991 as an entertainment software development company. Entertainment software development is provided through the recently acquired subsidiary, Wonderfall Productions, Inc. Telefilm Canada has provided funding to assist development of a multiplayer internet based game which will showcase the company's streaming technologies.
Other products being developed using the Destiny proprietary audio compression format include an internet phone and Java based web audio player, which will be marketed through http://www.streamingaudio.com.
About Destiny Media Technologies, Inc.
Destiny Media Technologies, Inc. (http://www.dsny.com) is a leader in developing easy-to-use tools and enabling technologies to distribute digital media through the Internet. The company's suite of streaming and downloadable products includes: MPE™ (http://www.destinympe.com), a complete, secure media distribution system that provides e-commerce and digital rights management directly from within an MP3-compatible multimedia file; Clipstream™ (http://www.clipstream.com), a java-based tool which enables web pages, e-mail and banners to stream audio without the use of a player; Video Clipstream™ (http://www.videoclipstream.com), a technology for embedding streaming video into a web page or e-mail; and the RadioDestiny Broadcaster™ (http://www.radiodestiny.com), which allows a user to webcast live or scripted internet radio from a computer to anyone on the Internet. Established in 1991, the company is headquartered in Vancouver, Canada.
For more information contact:
Destiny Media Technologies, Inc.
President & CEO
Destiny Media Technologies, Inc.
604-609-7736 ext. 222