BestBuy.com Selects NetRadio to Provide Custom Channels and Co-branded Audio Player.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Feb. 21, 2001 Newest co-branded player to offer 22 channels to leading specialty retailer; new revenue stream continues to pay off for leading Webcaster NetRadio Corporation (Nasdaq:NETR NETR Nuclear Engineering Test Reactor NETR No Essential Traffic Reported NETR NATO Electronic Technical Recommendation ) a media company that is the leading online distributor of originally programmed audio entertainment through its Web site www.netradio.com, today announced that it has forged a co-branding agreement to provide custom audio entertainment programming to BestBuy.com(TM), a wholly owned Internet subsidiary of Best Buy Co., Inc. (NYSE NYSE See: New York Stock Exchange :BBY BBY Best Buy (stock symbol) BBY Before Battle of Yavin (Star Wars) BBY BeBeyond (Chinese online community) ). Under terms of the agreement, NetRadio will provide BestBuy.com with a co-branded player that will include 20 originally programmed NetRadio channels for use on their Web site. In addition, BestBuy.com will program, and NetRadio will host, two custom radio channels to leverage marketing and content from Best Buy enterprise initiatives. BestBuy.com will pay NetRadio for their streaming media See streaming audio, streaming video and digital media hub. services, and will purchase and control all the advertising on the channels that will run on the co-branded player. This advertising will be used to communicate special offers from the Best Buy enterprise to targeted consumers. BestBuy.com was among the nation's top e-commerce sites in the fall of 2000, accounting for an estimated seven million unique site visits in November (source, PC Data). The co-branded player is scheduled to debut in early spring 2001. "NetRadio is pleased to be working with Best Buy, a world class specialty store Noun 1. specialty store - a store that sells only one kind of merchandise shop, store - a mercantile establishment for the retail sale of goods or services; "he bought it at a shop on Cape Cod" and online retailer," said Eric Paulson, chairman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president, NetRadio Corporation. "Our agreement with Best Buy further validates how NetRadio's deep, rich and broad content can positively impact the performance of major online sites by providing increased site stickiness and advertising opportunities." Scott Young For other uses, see Scott Young (disambiguation). Scott Young (April 14, 1918 – June 12, 2005) was a Canadian journalist, sportswriter, novelist and the father of musician Neil Young. , VP/GM of Entertainment for BestBuy.com remarked, "The capability to program our own channels and advertising messages brings an important new marketing dimension to the Best Buy enterprise. Co-branded audio content from NetRadio.com, the leading Internet radio Listening to audio broadcasts via the Internet. There are more than 4,000 broadcasts available on the Internet that can be streamed and played by a software media player in the computer or in a stand-alone Internet radio with the software built in. Webcaster, will provide BestBuy.com an Internet radio service with instant credibility to the millions of Internet radio users." Paulson added, "NetRadio's agreement with Best Buy is part of our B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business strategy of increasing sales by forging multiple co-branded player agreements. We will continue to grow our B2B business by providing this service to other leading companies such as Best Buy." About Best Buy Co., Inc. Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is the nation's number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Enterprise operates retail stores and commercial web sites under the names: Best Buy, (BestBuy.com), Sam Goody Sam Goody is a music and entertainment retailer in the United States and formerly in the United Kingdom. It is owned and operated by Musicland, which itself is owned by former rival Trans World Entertainment which also runs Suncoast Motion Picture Company and, until January 2006, (SamGoody.com), Suncoast (Suncoast.com), Media Play (MediaPlay.com), On Cue (OnCue.com) and Magnolia Hi-Fi. The Company reaches consumers through more than 1,800 retail stores nationwide, in Puerto Rico and the U.S. Virgin Islands. About NetRadio Corporation NetRadio Corporation is a media company that is the leading online distributor of originally programmed audio entertainment. Through its premier Website, NetRadio.com, the company leverages the attributes of traditional radio, publishing and direct marketing with the connectivity and interactivity of the Internet. Over 2 million unique guests visit several times per month to enjoy NetRadio.com's more than 100 channels of music and information on demand, 24 hours a day, seven days a week. According to the latest Arbitron Webcast report for the month of October, NetRadio is the leading Webcaster with more than 4.6 million aggregate tuning hours (ATH) - the sum total of all hours that listeners tune to a given station. The report also identified NetRadio as having more than double the listenership lis·ten·er·ship n. The people who listen to a radio program or station. as the next leading Webcaster. The site connects with music enthusiasts through 15 interactive music communities ranging from Jazz, Modern Rock and New Age to Vintage Rock, Country and Classical. With NetRadio.com's On-Screen on·screen or on-screen adj. & adv. 1. As shown on a movie, television, or display screen. 2. Within public view; in public. Player, listeners can see the title and artist of every song as it plays. Users can simply click at any time to seamlessly purchase what they're hearing from an inventory of more than 250,000 music titles and 1 million sound samples at Netradio.com's on-line music store. Through its more than 100 channels of music and information, NetRadio.com provides its advertising and marketing partners with the ability to reach focused segments of users defined by specific demographic and lifestyle characteristics. In addition, NetRadio.com allows advertisers to utilize the combined strength of audio and video messaging with banner advertising Banner Advertising A common form of advertising on the internet. The banner is an advertisement of 460x68 pixels, usually placed at the top of the page Notes: For an example, just look at the top of a page on almost any popular web site. , closing the loop between message and action. NetRadio Corporation is headquartered in Minneapolis, Minnesota. NetRadio.com is a registered trademark of NetRadio Corporation. For more information about NetRadio.com call 952-259-6700 or visit www.netradio.com. |
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