Destiny Media Technologies Licenses MPE Software to Universal Music Group
Vancouver, British Columbia, June 17, 2004 - Destiny Media Technologies, Inc. (OTCBB: DSNY; Berlin: DME 935 410) announced today that it has entered into a software license and audio distribution agreement with Universal Music Group (UMG), the world’s leading music group and Promo Only, the world’s largest distributor of promotional music and music videos.
Under the agreement, UMG has contracted Destiny to customize the MPE delivery system to meet their needs to deliver virtually CD quality music to every US major market radio station. New UMG releases will be instantly available online. Promo Only, which provides an industry standard CD service, expect that at launch the system will reach more than 90% of major market US radio stations. Eventually the network will expand to include trusted users, who now have their music delivered to them on CD.
“This is the start of the future”, said Jim Robinson President of Promo Only. “Record Labels have all been waiting for this kind of technology which is both secure and high quality. There is no other system like it. Our reputation with the record labels and Destiny’s technology makes this a perfect fit to make this a standard for the entire industry.”
“This represents a milestone event for Destiny Media,” said Steve Vestergaard, Destiny Media’s CEO. “The adoption of our technology by the world’s leading music company provides a powerful validation of its potential, and provides content owners the ability to meet many of the challenges created today by piracy. We look forward to working with UMG and other industry leaders as adoption of our MPE format grows.”
When songs are encoded into the MPE format, a Clipstream™ powered email announcement is automatically generated which provides a playerless preview of the song within the email. Additionally, the MPE system adds a digital watermark to the track, which survives duplication, so that the user can be identified if an unauthorized copy is discovered. Songs also can be locked down to a particular release date, providing a maximum marketing impact for the labels.
About Universal Music Group
Universal Music Group (UMG) is the world’s largest music company. Its global operations encompass the development, manufacture, marketing, sales and distribution of recorded music through a network of subsidiaries, joint ventures and licensees in 71 countries. UMG is the global market leader and the leader in 65% of the markets where it operates including the U.S., U.K., Germany, France, Canada, Italy and Australia. With over 10,700 employees worldwide, UMG leads the music industry in global sales with an estimated worldwide market share in 2003 of 23.6%.
About Promo Only
With offices in Orlando, New York, Los Angeles, Calgary, Chicago and London, Promo Only is the world's leader in promotional subscription-based music and music video services to the industry professional.
Destiny Media Technologies, Inc. (http://www.dsny.com) is a leader in developing easy-to-use tools for distributing digital media through the Internet. The company's suite of streaming and downloadable products includes: Clipstream™, Destiny Media Player ™, Radio Destiny ™ and MPE ™. Established in 1991, the company is headquartered in Vancouver, Canada.
For more information contact:
Steve Vestergaard firstname.lastname@example.org
CEO Destiny Media Technologies, Inc.
604-609-7736 ext. 222
CEOcast, Inc. for Destiny Media Technologies, Inc.
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