UNIVERSAL TO OFFER MUSIC DOWNLOADS
The music arm of entertainment giant Vivendi Universal said it would work with the company's digital music operation to offer subscription music downloads. Universal Music Group, the world's largest music company, said it would offer content from about 1,000 of its albums, primarily for its back catalog, through EMusic.com, a unit of Vivendi Universal Net USA. "Vivendi Universal is committed to being a worldwide pioneer in distributing all types of content to consumers over the Internet and other next-generation platforms," said Robin Richards, chief executive officer of Vivendi Universal Net USA. Steve Grady, general manager of EMusic, said the addition of Universal titles expands the depth "of our offering and further enhances the outstanding value we offer customers." EMusic offers unlimited access to over 200,000 songs in the standard MP3 format for $9.99 to $14.99 per month. EMusic subscribers gain full rights to burn the files they have downloaded onto CDs or to transfer them to portable music players.
EARTHLINK TO RUN MUSIC SERVICE
EarthLink, the third largest Internet service provider, has introduced an Internet music service intended to provide an alternative to illegal file-swapping services. The new service, EarthLink Digital Music -- unveiled with the privately held subscription service FullAudio -- will allow users to download up to 50 songs a month for $9.95, or 100 a month for $17.94. FullAudio offers music from BMG, EMI Recorded Music, the Warner Music Group and the Universal Music Group. "The EarthLink Digital Music center is a comprehensive destination for digital music, allowing subscribers to choose from a number of legitimate listening options," said Erika Jolly, EarthLink's vice president of value-added services. She said subscribers would have unlimited access to the tracks in their library, and over time could continue to accumulate tracks and build a music collection as long as their subscription is active.
INFOSPACE EXPECTS TO MEET FORECAST
InfoSpace, which syndicates Internet and wireless content, said it would meet or beat its second quarter forecast of a loss of 2 cents a share, excluding certain items, on revenue of $31 million. Wall Street analysts surveyed by Thomson Financial/First Call estimated a loss of 2 cents a share. Located in Bellevue, Wash., InfoSpace last year earned 1 cent a share, before certain items, on revenue of $51 million. "We are focused on maximizing shareholder value and building a great enterprise for the long term," said Tammy Halstead, chief financial officer at InfoSpace. The company will announce second quarter earnings on July 23.
FILM88.COM SUED BY STUDIOS
The major Hollywood films studies have filed a copyright infringement lawsuit against online move distributor Film88.com and the Malaysian attorney who allegedly launched the service. The Los Angeles Times reported the suit, filed by the Motion Picture Association of America, targets Alex Tan, also known as Soo L. Tan, and three entities he allegedly directed. Those firms are MasterSurf Inc, in Agoura Hills, Calif.; Film88.com, a Web site based in Iran; and Universal Corp., a company that allegedly operates Film88.com. The suit seeks more than $30 million in damages related to unauthorized copying of at least 232 films, including "Sunset Boulevard" and "Harry Potter and the Sorcerer's Stone." Film88.com enabled consumers to watch hundreds of movies and classic TV programs online in near-VHS quality, charging $1 for unlimited viewings over a three-day period.
BPA SHOPS ONLINE FOR POWER EQUIPMENT
Steve Wright, administrator of the Bonneville Power Association, said the company saved millions of dollars buying high-voltage transmission equipment via an Internet auction. Siemens Power Transmission and Distribution Inc. was recently awarded a contract to provide BPA, located in Portland, Ore., with shunt reactor banks for $5.2 million, $3 million less than the original estimate. "When we began our e-commerce initiative, this was exactly the kind of savings we were hoping to find," said Wright. "Savings like these are particularly important at this time because we are doing everything we can to keep costs and rates down." He said the company plans to go online again when it is ready to purchase some transformers for its Walla Walla, Wash., facility.
FURNITUREFIND.COM COMPLETES FINACING
HQ Ventures has come to terms on an equity investment in FurnitureFind.com, a Buchanan, Mich., home furnishings retailer. Terms of the deal were not disclosed. Founded in 1996, as the electronic-catalog division of a 50-year-old traditional furniture business, FurrnitureFund.com has access to more than 100,000 home furnishing products. "We were impressed by the strength of the management team at FurnitureFind," said Lawrence Garatoni, chief executive officer of HQ Venture Capital. "With six years of experience and a proven business model, they have the opportunity to build the dominant online franchise in an important category." The transaction makes HQ Venture Capital the largest single outside investor in FurnitureFund. Stephen Antisdel, CEO of FurnitureFind.com, said the company's home furnishing sales have more than doubled during the first half of 2002 compared to the same period in 2001.
NCSOFT TO RELEASE "TRADE WARS"
NCsoft Corp. will publish "Trade Wars: Dark Millennium," an online game under development by Phoenix-based Realm Interactive LLC. NCsoft, in Seoul, South Korea, is one of the world's largest online game companies. Its U.S. headquarters is in Austin, Texas. In a statement, the company describes "Trade Wars" as a fast-paced, role-playing combat experience set in an enormous virtual world where players are able to explore the vastness of space as well as mysterious unchanted planets, a first for the massively multiplayer online role-playing game genre. Realm Interactive is a game development studio in Phoenix.
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