CUSTOM CD PLAN PUTS K-TEL SHARES ON CHARTS.Byline: Ben Sullivan Daily News Staff Writer Shares in K-tel International Inc. rose as much as 10 percent Tuesday on news the company will offer custom-made music CDs through its Web site. K-tel stock closed up 87.5 cents at $11.875, for a daily gain of 7.95 percent. More than 884,000 shares traded hands, or 1-1/2 times the issue's 30-day average trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. . The direct music marketer, best known for kitschy kitsch n. 1. Sentimentality or vulgar, often pretentious bad taste, especially in the arts: "When money tries to buy beauty it tends to purchase a kind of courteous kitsch" television commercials in the 1970s and '80s, enjoyed a virtual rebirth re·birth n. 1. A second or new birth; reincarnation. 2. A renaissance; a revival: a rebirth of classicism in architecture. last year after moving to an Internet-based business model. Tuesday's announcement is another step for the organization along that road, company officials said. In offering custom-made CDs, which customers order by mixing and matching compositions from a 4,000-item song list, K-tel joins the likes of the now-defunct MyCD.com, and the still extant ex·tant adj. 1. Still in existence; not destroyed, lost, or extinct: extant manuscripts. 2. Archaic Standing out; projecting. Musicmaker.com and online music retailer CDNow. The latter each offer far more songs than K-tel to choose from, but the companies must pay royalties to the artists. K-tel owns the rights to its songs outright. ``From a margin standpoint The Standpoint is a newspaper published in the British Virgin Islands. It was originally published under the name Pennysaver, largely as a shopping-coupon promotional newspaper, but since emerged as one of the most influential sources of journalism in the we have a big competitive advantage,'' said Scott Blum, head of K-tel's online operations. K-tel's discs are also cheaper. The company charges $10 for 10 songs, and 99 cents for each additional track. Other sites typically charge $15-$16 for up to 70 minutes of music. Blum declined to say how much revenue K-tel expects to generate from its custom music business. Shares of the Calabasas-based company have surged twice in the past year, first on news that it was switching to an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the model and then that it had signed a licensing deal with Microsoft. In each instance, K-tel shares climbed to nearly $40 before tumbling back down. |
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