SEATTLE, Jan. 3, 2005 (PRIMEZONE) -- NetMusic Entertainment (Pink Sheets:NTMT) announced today that it saw a major boost in holiday sales, experiencing a 30% jump in online sales from November to December 2004.
"The company realized this increase in revenue while reducing its pricing by 10% across the board," explains Glen Starchman, NetMusic Entertainment's CEO. "During the 2004 Holiday Season, we showed our appreciation for those who selected NetMusic.com and NetMusic's independent arm AudioLunchbox.com as their choice for quality entertainment by offering $0.89 music downloads through the end of 2004. Even with this discount NetMusic's sales grew. Our goal was to attract new users, and that's exactly what we achieved."
"This sets the company up for major expansion in 2005, as NetMusic has strong initiatives in place to expand its catalogue, increase its user base and capitalize on its product line," concluded Starchman.
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 also offers the largest online collection of independent music in the world -- a licensed catalog of over one million tracks, incorporating 4000 plus labels.
About Audio Lunchbox:
Los Angeles, California-based Audio Lunchbox (http://www.audiolunchbox.com/) is a wholly owned subsidiary of NetMusic Entertainment and operates the premier digital music service for independent music. The company was originally founded with a common vision: to increase exposure and availability of great independent music. Audio Lunchbox is cross-platform and entirely web-based.
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.