DALLAS, March 8, 2005 (PRIMEZONE) -- Immediatek (OTCBB:ITEK) announced today that it has signed a multi-show/multi-tour preferred vendor deal with AEG-TV LLC. The deal will allow AEG-TV and Immediatek to jointly pursue opportunities tied to live events involving performances to be broadcast to pay-per-view, high definition cinemas and networks, broadcast and/or the production of DiscLive collectible CDs available immediately after a live performance.
AEG-TV has produced and/or distributed television, pay-per-view and cinema premiere events for such performers as Beyonce, Kenny Chesney, Linkin Park, Prince, Gloria Estefan, Phish and many others.
Because of the similarity of AEG and Immediatek/DiscLive clients and audiences, both companies believe that by combining strengths and co-marketing their respective services, the opportunities and benefit will increase for all parties involved - especially the fans.
"AEG-TV, as well as the overall AEG Live infrastructure, represents a key strategic partner for our company," said Zach Bair, CEO of Immediatek and DiscLive. "We are each involved in working with artists of all genres, and dealing with live events. By working together, we can offer unique packages and services, including DiscLive collectible CDs combined with a live event broadcast, for instance, which further opens the door for new and exciting revenue streams for artists and labels. AEG also brings us many years of expertise in the live music business that will help DiscLive to further build and improve its business model as it continues to scale for the future."
John Rubey, CEO of AEG-TV, said, "We look forward to working with Immediatek/DiscLive to bring more live, high definition, Dolby 5.1 audio concert events to cinemas and living rooms throughout North America."
"We are excited about using Immediatek/DiscLive recordings as additional premiums for our event promotions," added Tommy Nast EVP, AEG Live.
Although neither company has released the date of the first joint event series, Rubey said that the companies are planning for a minimum of six major tours and/or live broadcasts per year.
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 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.
DiscLive (www.disclive.com) is a pioneer and the leader 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 that 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."
AEG-TV is devoted to creation and marketing of live events for television, DVD, pay-per-view and other electronic media. The company is the industry leader in Client Supplied Concerts and Special Events for Television, Pay-Per-View and Digital Cinema exhibition with 88 programs generating more than $500 million in measured promotional media during 1997-2004.
AEG-TV delivers a powerful, targeted, integrated promotion tied to a music event with numerous media platforms. AEG-TV can produce, market and distribute events to Regal Cinemas, Sell Thru PPV, network or cable broadcasts. AEG-TV programs enjoy strong Internet and radio promotion support, and deliver on average millions in media value for the Artist, Label and Sponsor. AEG-TV has provided cinema, PPV and/or broadcast support for AEG LIVE projects including Jimmy Buffett's Coastal Confession, KORN, Tom Petty & the Heartbreakers, Gloria Estefan at Caesar's Colosseum, Kenny Chesney & Prince.
AEG-TV was the top provider of music PPV events in 2001 overall including three of the top five music PPV events of 2001 as reported by Showtime Entertainment in their annual report. AEG-TV's unique marketing has a history which has been documented by University of Houston research of increasing product sales from 20-38+% for participating performers and sponsors. AEG-TV has developed hundreds of program sponsorships generating new marketing and revenue for its clients with high quality PPV programs that have gone on to become successful broadcast and cable programs, home video and DVD products, nominated for the prestigious Cable Ace award and received a TELLY award in 2004 for the Gloria Estefan program. AEG-TV celebrated its tenth year of ONE NIGHT ONLY(tm) PPV event success in 2001.
AEG-TV is an affiliate of AEG, one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of The Anschutz Corporation, owns or controls a collection of companies including facilities such as STAPLES Center, the London Arena, The Forum (as exclusive booking agent for sports and entertainment programming), HealthSouth Training Center and Nokia Theatre at Grand Prairie (as operators); sports franchises including the Los Angeles Kings (NHL) and six MLS teams; AEG LIVE, a collection of companies devoted to all aspects of live entertainment including: Creative Battery, producers of live entertainment for a variety of media and venues; Concerts West and Golden Voice, live entertainment promotion and touring companies and AEG TELEWORKS, full television production service providers.
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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.