Net.radio, AudioNet & ASCAP sign licensing agreement.
The licensing agreement allows net.radio and AudioNet to broadcast clips that contain music over the Internet while protecting the rights of the copyright holders.
"We think this is a significant step toward proving that the Internet can be both a self-regulating and commercially viable entity," said Scott Bourne, president of net.radio. "Congress didn't have to tell us to do this, we did it because the copyright holders deserve fair compensation for their hard work and ASCAP has carefully crafted a license agreement that protects everyone."
The commercial implications of the licensing agreement are also significant. "Because of this agreement, potential clients and sponsors now have millions of programming options on the Internet."
Since net.radio's Internet broadcasts are 95 percent music, the licensing agreement is crucial to obtaining music from various programming sources. Since AudioNet primarily broadcasts sports and talk radio, music licensing is less of an issue but is still required.
"We're excited to have the ASCAP agreement signed and in place," said Mark Cuban, president of AudioNet. "This is just one more step in the process of legitimizing Internet broadcasting."
Net.radio is the first, 24-hour-a-day, live, Internet-only, radio network. Net.radio features original programming and focuses on music and Internet news. Net.radio is a privately-owned, Nevada corporation.
AudioNet is the leading provider of sports, entertainment and talk-radio programming on the Internet. All programming comes from existing radio stations and is free and available 24-hours a day. AudioNet is a privately-owned, Texas corporation.
ASCAP is the world's largest music licensing organization in the United States. ASCAP grants license holders the right to publicly perform copyrighted musical compositions and is the only performing rights organization that is wholly owned by and managed for writers and publishers of music.
For more information contact Scott Bourne at net.radio, 612/378-2211; Mark Cuban at Audio.Net, 1-800-34-AUDIO or Bennet Lincoff, 212-621-6270.
CONTACT: net.radio corp.
Scott Bourne, 612/378-2211
Mark Cuban, 1-800-34-AUDIO