Destiny Media's MPE System Achieves Record Penetration of Music Industry
VANCOUVER, British Columbia, June 27, 2005 /PRNewswire-FirstCall via COMTEX/ --
Destiny Media Technologies (OTCBB: DSNY) announced today that in conjunction with its partner Promo Only, it has achieved record penetration of the music industry. The Company's technology, which has the ability to deliver music, videos and other digital media via the Internet at a fraction of the cost of traditional means, is the only digital distribution system used exclusively by Universal Music Group (UMG) and the only distribution service that has delivered over 1,200 tracks to US radio.
"We have begun to experience a dramatic growth in the use of the Promo Only MPE System by the music industry," said Steve Vestergaard, Destiny CEO. "The increase in the number of tracks distributed is particularly significant, as it demonstrates the growing adoption of our System. Under our transaction- based model, music companies pay us a fee each time we, in conjunction with our partner Promo Only, distribute one of their tracks. We believe that today the Promo Only MPE System is rapidly becoming the de facto standard in the industry."
Destiny Media announced today that the Company's Promo Only MPE System has distributed over six-hundred tracks exclusively for UMG since its launch in October of 2004 and roughly 1,200 tracks for all labels on the system. UMG tracks make up over 50% of the top 25 tracks on radio charts, and were sent through the Promo Only MPE System exclusively. The System has now delivered in total over 1,200 tracks to over 575,000 users in the United States.
"The success of the system in delivering our music quickly, securely and at broadcast quality has given us great confidence in Promo Only MPE," said Vincent Freda, UMG's Executive Vice President of Digital Logistics & Business Services. "Promo Only MPE is the system that people are talking about and the obvious choice for the radio and music industry."
About Promo Only
With offices in Orlando, New York, Los Angeles, Calgary, Chicago and London, Promo Only (www.promoonly.com) is the world's leader in subscription-based music and music video services. Promo Only offers a complete line of music on CD and music video on DVD designed to meet the needs of music professionals, business owners and retail operations. Jim Robinson and Peter Werner founded Promo Only in 1992.
About Destiny Media Technologies, Inc.
Destiny Media Technologies, Inc. (http://www.dsny.com) (DSNY.OB) is a leader in developing easy-to-use tools for distributing digital media through the Internet. The company's suite of streamin and downloadable products includes: Clipstream™, Destiny Media Player ™, Radio Destiny ™ and MPE ™. Established in 1991, the company is headquartered in Vancouver, Canada.
For further information contact:
CEO Destiny Media Technologies, Inc.
604-609-7736 ext. 222
CEOcast, Inc. for Destiny Media Technologies, Inc.
Ed Lewis, 212-732-4300
Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission