Leading Digital Music Service Provider Changes Name to MediaNet Digital

Leading Digital Music Service Provider Changes Name to MediaNet Digital

Name Change Reflects Business Expansion and New Offerings in Music Videos, Television and Film

NEW YORK, July 12 /PRNewswire/ -- MusicNet, a pioneer in the digital delivery of music content, announced today that the company has expanded its content and technology offerings and renamed itself MediaNet Digital. MediaNet's proprietary digital media distribution platform has been expanded to incorporate additional forms of media including music videos, television and film.

MediaNet remains a world leader in B2B digital music distribution delivery. Based in New York with offices in Seattle and London, MediaNet has a proven track record of providing back-end technology and licensed content to preeminent digital music services including Yahoo! Music, MTV's Urge, Virgin, HMV, Samsung, and Microsoft's Zune, among others.

"Our mission from the start has been to help the entertainment industry make the challenging transition from analog content to digital -- we've certainly been at the forefront of that effort with respect to music," said Alan McGlade, MediaNet's president and CEO.

"The expansion to MediaNet with the addition of premium digital content across all major forms of media is a natural extension to our successful music heritage," he added.

"MediaNet's platform is built on a foundation of outstanding relationships with content providers and distribution partners in bringing the finest digital entertainment to consumers, from the latest albums and music videos to television shows and feature films," Mr. McGlade said.

Ian Rogers, General Manager of Yahoo! Music, commented: "Yahoo! Music has enjoyed a long-standing, successful partnership with MusicNet. Their proven track record as a digital music platform demonstrates the expertise essential for expansion into other types of entertainment."

MediaNet's name change comes as the company has recently made a number of significant content, technology, and platform advances that strengthen its leadership in digital media services for the entertainment industry. Recent deals and accomplishments include:

Content
-- Audio catalog of 4.5 million tracks.
-- Music video catalog of over 5,000 videos from some of the largest
major and independent labels. Several partners will make music
videos available later this year.
-- Episodic television catalog of thousands of titles and a library of
feature films to be added later this year.
-- Support of non-DRM / mp3 content.
-- Management of more than a petabyte of storage for content library.

Product
-- Introduction of Performer Digital, a white-label downloadable media
player and Web-based client that surfaces MediaNet's underlying
platform including music downloads, subscriptions and video. The
player supports video functions including downloads and streaming
with both a standard desktop view and a 10-foot user interface for
TV display. The media player was developed by digital delivery
provider J.River, Inc. and includes ripping, burning and transfers
to portable devices.
-- New platform for delivery of episodic television and feature films
to be exposed in distribution partners custom downloadable and web-
based applications.
-- Integration with Windows Media Player 11, bundled with Microsoft
Vista.
-- Addition of a mobile subscription product for audio content and as
well as a Windows Mobile Smartphone Client.
-- Platform expansion to include advertising-based digital distribution
services.
-- Currently serving more than 200 million plays per month.

About MediaNet Digital

MediaNet Digital is the world's leading provider of business-to-business digital entertainment services. The Company offers the content and white- label technologies used to create music and video download and subscription services for world-class consumer brands. MediaNet Digital is wholly-owned by Baker Capital, a New York-based private equity firm with $1.5 billion under management, and was the 2006 winner of Deloitte & Touche USA's prestigious Deloitte New York Technology Fast 50 Award. For more information about MediaNet Digital, please visit www.medianetdigital.com.

First Call Analyst:
FCMN Contact:

Source: MediaNet Digital

CONTACT: Contact: Ann Garrett for MediaNet Digital, +1-818-501-8499,
anngarrett@earthlink.net

Web site:

http://www.musicnet.com/
http://www.medianetdigital.com/

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