Samsung Partners With MusicNet to Introduce New Portable Media Lifestyle With Subscription Digital Music Service in United Kingdom, Germany and France
BERLIN, Sept. 1 /PRNewswire/ -- Samsung Electronics, the world's leading innovator in the portable audio space, today announced that it will be launching a new line of innovative portable media players and a state-of-the- art digital music service through a new, long-term European partnership with MusicNet, the world's leading business-to-business digital entertainment services provider. MusicNet will power the service and provide the underlying technologies and content library for Samsung's new subscription digital music service and download stores in the United Kingdom, Germany and France. In addition, Samsung is planning on expanding the service throughout Europe and Asia after its initial launch phase.
"Listening to digital music has transcended the individual experience and now empowers consumers to bridge generations and share their experience with others," said Seungsoo Park, Vice President of Samsung Electronics Digital AV division, Digital Media Business. "Our forthcoming K5 media player, which will be available later this year, will offer consumers an exciting new way to listen to and experience digital music on-the-go."
The service and stores, which are expected to launch later this year, will be compatible with Samsung's forthcoming line of MP3 and portable media players, including the K5. Samsung's customers will have access to more than 2 million licensed songs, which includes content from all of the major record labels and more than 40,000 independent labels. In addition, the service will offer consumers an easy way to manage their files, as well as provide an intuitive software platform that will make music purchases, transfers and burning to CDs effortless.
"Our partnership with MusicNet completes our product package," added Park. "Our customers will be excited to have the coolest Samsung MP3 player combined with unlimited access to over two million tracks in the easiest possible way. We selected MusicNet as our partner because of their expertise in creating digital entertainment services, and we are confident that they will enrich our customers' experience."
"Samsung is one of the world's premiere consumer electronics brands and we are thrilled to be working with them to create a seamless out-of-the-box digital entertainment experience for their consumers," concluded Alan McGlade, President and CEO of MusicNet. "This benchmark combination of innovative devices and a premium digital entertainment subscription service introduces a game-changing alternative into the marketplace."
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in digital media, semiconductor, telecommunication, and digital convergence technologies with 2005 parent company sales of US$56.7 billion and net income of US$7.5 billion. Employing approximately 128,000 people in over 120 offices in 57 countries, the company consists of five main business units: Digital Appliance Business, Digital Media Business, LCD Business, Semiconductor Business and Telecommunication Network Business. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, memory chips, mobile phones and TFT-LCDs. For more information, please visit http://www.samsung.com/
About MusicNet
MusicNet 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. The preferred partner of many top consumer brands, MusicNet's scalable platform delivers a quick and cost-effective path to market for PCs, portable music devices, mobile phones and beyond. The Company offers a broad range of products for companies that want a turnkey and full-service solution for offering digital music and video. MusicNet is headquartered in New York and has offices in Seattle and London. MusicNet is wholly-owned by Baker Capital, a New York-based private equity firm with $1.5 billion under management. For more information about MusicNet, please visit www.musicnet.com/.
Source: MusicNet
CONTACT: Alan Lewis, Director of Corporate Communications of MusicNet,
+1-212-704-2056, alewis@musicnet.com; or Anthony Lee, +82-2-727-7934,
anthlee@samsung.com, or Youngeun Jung, +82-31-277-1906, ye002.jung@samsung.com, both of Samsung Electronics Co., Ltd.
Web site: http://www.musicnet.com/
http://www.samsung.com/
