SEATTLE, Sept. 26, 2005 (PRIMEZONE) -- NetMusic Entertainment Corporation (Pink Sheets:NTMT) announced today that the company has formulated an agreement to join forces for the delivery of a global entertainment network developed by Boloto Group of Scottsdale, AZ.
The network provides consumers with the flexibility and freedom to enjoy vast volumes of available content, while delivering definitive protection to the creators, copyrights holders, and owners of entertainment products.
Under the terms of the agreement, NetMusic will take the lead in acquisition of content, and Boloto Group will incorporate proprietary technologies and business methods to add valuable new opportunities for consumers and protections for content and copyrights owners.
The companies will deliver further news about the initiative in the coming weeks.
According to Glen Starchman, NetMusic's Chairman and CEO, "Boloto Group has developed a unique technology model for digital entertainment distribution which enhances consumers' enjoyment, and value for artists and the industry at the same time. This is the most forward-looking solution that we have seen, and I fully expect it to take the lead in the future of entertainment. This truly answers the needs of a win-win proposition for everyone."
Agreeing with Mr. Starchman, Robert Donnelli, CEO of Boloto Group, also added, "The value of combining the content expertise offered by NetMusic with Boloto Group's emerging technologies will revolutionize the entertainment industry. The world of entertainment accessed via the web is about to change permanently, for the better. The promise of old that the web held will finally become a reality." Further defined, "The Web Your Way."
About Boloto Group:
Scottsdale, Arizona-based Boloto Group is a closely held, private technology and business solutions company. The Boloto Group was created to resolve the many problems and short falls that current providers of goods and services delivered via the web are overlooking. Guided by the mission, "where innovation captures opportunity," the Company creates and delivers real-world channel solutions that touch the lives of virtually all web users.
The Boloto Group is a consortium of Companies that are innovative leaders in their respective industries.
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.