SEATTLE, Aug. 22, 2005 (PRIMEZONE) -- NetMusic Entertainment Corporation (Pink Sheets:NTMT) announced today that the company has closed a deal to distribute a large variety of Bollywood films and Hindu language music from hungama.com (http://www.hungama.com/), a subsidiary and content distribution arm of South Asia's largest media marketing firms, Virtual Marketing India Pvt. Ltd., operating under the DBA of "Branding Brands" (http://www.brandingbrands.net/) and (http://www.indiafm.com/).
The deal will launch NetMusic and its wholesale distribution partners into the exploding growth market of foreign language content. NetMusic will be able to market this entertainment to consumers both in the U.S. and across the globe. The company expects to begin generating significant revenues from foreign content by the fourth quarter of this year.
According to NetMusic Chairman and CEO, Glen Starchman, "We've been aggressively pursuing the foreign content and foreign language markets for over a year, and now those efforts are starting to be positioned exactly as we have desired. Reports have indicated a market of well over one million consumers in the U.S. alone for the content from this deal, not to mention even larger bases in Europe and Asia. We have always believed that the revenue opportunities for this type of material are substantial, and with this acquisition, we intend to deliver upon that belief."
About NetMusic:
Edmonds, Washington-based NetMusic Entertainment (http://www.netmusic.com/) is a global digital media company focused on providing consumers entertainment on their own terms: anytime, anywhere. The company offers digital music downloads, digital jukeboxes, video-on-demand and online video rental services across the globe. NetMusic focuses on providing media distribution opportunities in both audio and audiovisual spaces for third party brands seeking to engage consumers with media. Recently, the company announced plans for the acquisitioning of licensing to the catalogues of the largest recording companies in the industry as well as plans to launch a video-on-demand service. Investors interested in obtaining more information about the company are invited to visit: (http://www.netmusic.com/corp/).
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although NetMusic Entertainment Corporation believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by NetMusic Entertainment Corporation or any other person that the objective and plans of NetMusic Entertainment Corporation will be achieved.