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RoyaltyShare Contact:
Steve Grady
President, COO
(858) 458-1600 ext. 11
steve@royaltyshare.com
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Editorial Contact:
Michael Kelly
Nadel Phelan
(831) 440-2403
michael@nadelphelan.com
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RoyaltyShare Expands Services with Acquisition of IDEA
Web-based Royalty Processing Service Expands Offerings to Include Additional Technology Services
for Record Labels and Distributors
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SAN DIEGO, MAY 22, 2007 - RoyaltyShare, a premier provider of digital royalty solutions to the entertainment industry, today announced the acquisition of Los Angeles- based Independent Digital Entertainment & Arts, LLC (IDEA), a provider of outsourced content management services to record labels, record distributors and digital music retailers. With the acquisition, RoyaltyShare expands its service to include digital content management and delivery services.
"RoyaltyShare's focus is to provide back-office technology infrastructure to support the digital music sales process–from the delivery of content to digital retailers, to the consolidation of digital and physical sales reports, to the generation of royalty statements to recording artists and music publishers," said Bob Kohn, Chairman & CEO of RoyaltyShare. "The addition of content management and delivery technology allows us to offer to record labels, distributors and aggregators a full solution for managing the complexity of the digital sales process."
"Online and wireless music services represent the future of music distribution, and those channels have yet to be fully developed to most effectively reach music consumers," said Susan Kevorkian, program manager with IDC. "Technology providers like RoyaltyShare offer key tools to enable the music industry to realize the promise of digital distribution and drive music sales."
Based in Los Angeles, IDEA was founded in 2004. Although the company's early efforts were focused on content aggregation, IDEA has shifted its model over the past year to being a provider of outsourced content management solutions, including metadata management, ripping, encoding, storage, delivery and digital supply chain management.
"Aligning with RoyaltyShare will provide our existing record label customers and distribution partners with the best possible support to navigate the digital music landscape," said Alfredo Cabeza, founder and CEO of IDEA. "We look forward to playing a key role in RoyaltyShare's success as it rolls out a turnkey solution for customers to easily manage their catalog across the leading digital music services."
RoyaltyShare will retain the IDEA executive team with Alfredo Cabeza taking on the role of Vice President of Content Management Services. A graduate of Princeton University, Cabeza has a strong track record in the digital entertainment industry, having served as a CTO and Senior Engineer for a variety of digital media companies including Music Interactive, Movielink and Sony Pictures Digital.
RoyaltyShare plans to maintain IDEA's offices in West Hollywood for business development, sales and customer service operations. Financial terms of the acquisition were not announced.
About RoyaltyShare
RoyaltyShare is the worldwide leader in web-based royalty processing and reporting solutions for the global entertainment industry. RoyaltyShare provides a suite of on-demand services dedicated to simplifying the increasingly complex and necessary task of managing sales and distribution information, calculating royalties, and generating Web-accessible royalty reports. RoyaltyShare's centralized revenue data processing solution supports digital, physical, subscription, mobile and other sources of revenue. Its state-of-the-art system and dedicated 24/7 royalty support team enables music labels, distributors and publishers to accurately manage royalty reporting obligations anytime, anywhere. For more information, please visit http://www.royaltyshare.com.
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