DALLAS, Feb. 16, 2005 (PRIMEZONE) -- Immediatek (OTCBB:ITEK) announced today that Pirate Entertainment of Chicago, Ill., has formed a strategic alliance with DiscLive, the leader in live disc recording services that makes CDs available immediately after a concert or live event.
The two companies will combine resources to service artists and record labels and to further market the DiscLive brand.
"We are excited to have Pirate Entertainment join our family as an alliance partner," stated DiscLive's CEO, Zach Bair. "With their early successes with the legendary Buddy Guy and their strong presence in Los Angeles and the country's third-largest city, Chicago, we feel that they add significant muscle to our overall strategy. This alliance will continue to drive DiscLive's position as the market and technology leader in our space." Bair also said that the back-office efforts of both companies would be coordinated through Immediatek, creating a more seamless experience for sales, marketing, fulfillment, and e-commerce.
David Turner, CEO of Pirate Entertainment, said, "It has always been our intent to present a reasonably priced quality product to music fans while offering the artist and their recording company a new and very profitable revenue source. Pirate's teaming with DiscLive is more than a great opportunity for the two companies; this partnership offers an exceptionally clear and viable option for musicians to expand upon the power and passion of their live performances, resulting in a strengthening of the artist/ fan relationship." Pirate President Keith Walner adds, "Authorized bootlegs of live performances are becoming a very big piece of the puzzle. There is an incredible word-of-mouth that builds when fans find out that the musician is doing this for them."
DiscLive is the pioneer in the quickly growing market of live discs made available immediately after a concert.
DiscLive (www.disclive.com) is a pioneer in the new business of recording concerts and distributing mass CDs immediately after the show. The company is expanding its business rapidly as the live disc phenomena continues to grow. The company has completed tours from Vermont to California as well as in Canada and the United Kingdom, with its state-of-the-art mobile recording and production facilities, which can produce 1,000 high quality CDs in less than 20 minutes. The company is headed by CEO and musician Zach Bair. A May 2, 2004 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."
Pirate Entertainment is an innovative company that produces, markets, and sells exceptionally high quality live recordings, in both audio and video-DVD format. With several projects under their belt, Pirate Entertainment has already solidified a stronghold within the burgeoning niche of live concert recordings. Under the leadership of lifelong friends, David Turner, a Chicago entrepreneur, and Keith Walner, a 15-year veteran of the music and entertainment industry, Pirate blends a passionate love of music, extraordinary vision, business savvy, and the invaluable relationships that will finally bring the art of authorized "bootlegging" to the masses in a way that will resonate with music fans on a very personal level.
Immediatek (OTCBB:ITEK) is the parent company of DiscLive, and is the developer of NetBurn Secure(TM) (www.netburncd.com), the only "single-click CD download and burn" software product on the market, which 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.
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.