Onstream Media Launches Film Festival Online(TM) at the International Film Festival Summit

Onstream Media Launches Film Festival Online(TM) at the International Film Festival Summit

Web Portal Enables Film Festival Producers to Reach Global Audience Year Round

POMPANO BEACH, Fla., Dec. 3 /PRNewswire-FirstCall/ -- Onstream Media Corporation (NASDAQ:ONSM), an online service provider of live and on-demand digital media, communications and applications, today launched its Film Festival Online(TM) solution www.filmfestivalonline.net at the International Film Festival Summit (IFFS), being held in Las Vegas, NV from December 2 through December 4, 2007.

Onstream Media's Film Festival Online is a comprehensive web portal that enables film festival organizers to bring together independent film producers, marketers and distributors in a web-based environment to review, judge and promote any type of film via the Internet all year round.

"Film Festival Online is another example of Onstream Media's continuing efforts to develop and market innovative technologies for our valued clients worldwide," said Randy Selman, president and chief executive officer of Onstream Media. "This turnkey solution enables film festival producers to easily provide studio or film-centric microsites, complete with trailers, interviews with the stars, behind-the-scenes looks at how the film was made, b-roll footage, bios and other content specifically tailored for the media and entertainment industry."

Onstream Media's Film Festival Online includes many features and benefits, including:

-- Establishing new revenue streams for our clients through a flexible
array of eCommerce options, such as: pay-per-view packages, video on
demand, sponsorships, pay for placement, web banner advertising and
film hosting.

-- Creating new distribution channels for trailers, short and/or
full-length films through TiVo, iTunes, TakeTV, mobile and other new
media platforms. Playback formats include: digital rights managed
Windows Media, Adobe flash video, QuickTime H.264 and iPod video
formats.

-- Holding juried competitions on-line in advance of the festival with
special invitation-only content with fully-enabled comments, ratings
and reviews. This feature allows judges to easily view secure content

utilizing VeriSign's Kontiki Delivery Management System without the
traditional risks associated with physical media distribution.

In addition, Onstream Media's Film Festival Online enables festival producers to create a speaker's bureau center to stream live or on demand keynotes and other specialized tracks on their festival's events. The solution also provides sponsors, distributors and marketers with advanced reporting, such as site visits, page views, duration of visits, click activity, exit pages and more.

"Onstream Media's innovative solution is helping the IFFS extend the value of our event, as well as the hundreds of distributors and film producers looking to promote their projects through new media channels," said Todd Brockman, chairman of the IFFS. "Needless to say, we're excited to be working with Onstream Media, a proven leader in the rich media industry."

Additional technology features of Onstream Media's Film Festival Online include smart encoding, transcoding and indexing to allow on-site capture and upload of live festival video content (i.e. interviews, seminars, parties and other events). In addition, the solution provides user-friendly content publishing and integrated content management tools to help locate, access, edit, distribute and play back films in real-time or on-demand. Onstream Media's Film Festival Online also delivers reliable and scalable storage options for optimized video storage and delivery.

About Onstream Media:

Onstream Media Corporation is an online service provider of live and on- demand internet video, corporate web communications and content management applications. Onstream Media's pioneering Digital Media Services Platform (DMSP) provides customers with cost effective tools for encoding, managing, indexing, and publishing content via the Internet. The DMSP provides our clients with intelligent delivery and syndication of video advertising, and supports pay-per-view for online video and other rich media assets. The DMSP also provides an efficient workflow for transcoding and publishing user- generated content in combination with social networks and online video classifieds. In addition, Onstream Media provides live and on- demand webcasting, webinars, web and audio conferencing services. In fact, almost half of the Fortune 1000 companies and 78% of the Fortune 100 CEOs and CFOs have used Onstream Media's services.

Select Onstream Media customers include: AOL, AAA, AXA Equitable Life Insurance Company, Bonnier Corporation, Dell, Deutsche Bank, Disney, National Press Club, NHL, MGM, PR Newswire, Rodale, Inc., Televisa, WireOne, Shareholder.com (NASDAQ), and the U.S. Government. Onstream Media's strategic relationships include Akamai, Adobe, eBay, FiveAcross/Cisco and Qwest. For more information, visit Onstream Media at http://www.onstreammedia.com/ or call 954-917-6655.

Media Relations: Investor Relations:
Beth Amorosi Brett Maas
FastLane Communications, LLC Hayden Communications, Inc.
973-582-3498 646-536-7331
bamorosi@fast-lane.netbrett@haydenir.com

Certain statements in this document and elsewhere by Onstream Media are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward- looking statements include, but are not limited to fluctuations in demand; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Internet. Onstream Media undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Onstream Media Corporation's filings with the Securities and Exchange Commission.

Source: Onstream Media Corporation

CONTACT: Media Relations: Beth Amorosi of FastLane Communications, LLC,
+1-973-582-3498, bamorosi@fast-lane.net; or Investor Relations: Brett Maas of
Hayden Communications, Inc., +1-646-536-7331, brett@haydenir.com, both for
Onstream Media Corporation

Web site:

http://www.onstreammedia.com/
http://www.filmfestivalonline.net/

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