RICHARDSON, Texas, Oct. 26, 2004 (PRIMEZONE) -- Immediatek (OTCBB:ITEK) today announced that its wholly owned subsidiary, DiscLive, has been launched in the United Kingdom as "DiscLive Europe Limited," and it will begin its inaugural tour with the popular British band The Levellers in late November. The UK company will be run by well known British and international producer/engineer Andy Scarth (Heather Nova, Ray Davies), who will report to DiscLive President Stephen Prendergast.
DiscLive had previously recorded the Pixies' four shows at the Brixton Academy in the spring of 2004, but at that time the company did not have its duplication systems in place and offered "ship-home" products to concert attendees, all of which sold out in record time. Based upon the success of that initial engagement, the company is now fully equipped with a mobile mastering and duplication rig, modified for the English and European market.
Zach Bair, co-CEO and chairman of Immediatek, said that the launch of the European subsidiary is an important strategic direction for the company.
"We believe the potential for DiscLive, as well as our other Immediatek products such as NetBurn, is substantial," said Bair. "Our reception earlier this year in Great Britain for the Pixies shows was phenomenal, and, based on all of the positive feedback so far, I believe that there will be substantial interest and that the European segment could grow rapidly."
Since they burst onto the music scene in 1988, the Levellers have thrilled and excited music fans around the world. With their roots firmly in folk punk, they have taken this genre of music to a new level with numerous top-twenty singles and albums, and a live show that is unrivalled for its energy and excitement. To date the band has sold over 6 million records and performed to over 10 million people worldwide.
The tour commencing November 23 will be to some of the most beautiful theatres in the UK, with support from Dan Donnelly, a singer/songwriter from New York. Some venues are reportedly already sold out for this very special acoustic tour which will feature brand new songs.
About Immediatek
Immediatek is the parent company of DiscLive, and it is the developer of NetBurn Secure(TM) (www.netburncd.com) the only "single-click CD download and burn" software product on the market that helps record labels, artists, and content providers curb Internet piracy and protect their revenues by providing copy control even after digital music has been burned to disc, and which provides a new paradigm in digital delivery through the NetBurn Portal System. Immediatek is combining technologies to create new and exciting product offerings, all geared for creating new revenue streams for artists and labels, and implementing copy management to help reduce illegal file-sharing activity. Immediatek was founded by CEO and musician Zach Bair, who also founded venture-backed Voyence (www.voyence.com) as PowerUp Networks in 2000. NetBurn Secure(TM) also employs technology by third parties such as Microsoft (Nasdaq:MSFT) and includes security components by SunnComm International (SCMI). Immediatek's company website is www.immediatek.com.
About DiscLive
DiscLive (www.disclive.com) is the leading player in the quickly growing market of live discs made available immediately after the concert. The company is led by Rich Isaacson, CEO, who is co-founder of legendary Loud Records, and who invented the street team marketing concept, and by President Stephen Prendergast, who was co-founder of Squint Entertainment and responsible for signing such platinum selling artists as Chevelle and Sixpence None The Richer. DiscLive is expanding its business rapidly as the live disc phenomenon continues to grow. A May 2 headline in The New York Times dubbed the DiscLive offer of legal, high-quality CDs made available immediately after the concert "Rock's best new souvenir."
Safe Harbor Statement
This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors, including but not limited to, changes in the retail market place, changes in underwriting results affected by economic conditions and other factors described from time to time in the company's Securities and Exchange Commission filings, including the company's Annual Report on Form 10KSB for the year ended December 31, 2002. All forward-looking statements made in this press release are based on information presently available to management of the company. The company assumes no obligation to update any forward-looking statements.
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