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Report: Record $2.2 Billion in 'Net Ad Revenue Generated in Q4 2003

Authored by Mark Hefflinger on February 13, 2004 - 9:06am.
New York -- Online advertising recorded its highest revenue-producing quarter ever in the fourth quarter of 2003, when $2.2 billion from ads was generated -- bringing revenues for the year of 2003 to $7.2 billion, a 20% increase over 2002, according to data from the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers. The previous single-quarter ad revenue record of $2.12 billion was set in the fourth quarter of 2000. "The consistent revenue growth signals, in part the increased adoption of broadband," said PricewaterhouseCoopers new media group chair Tom Hyland. "Combined with the evolution of emerging ad formats including Search the growing health of the online medium and its proven advertising effectiveness bode well for sustainable revenue growth."
tags: Reports | Records | Q4 | Generated |

Sirius Satellite Radio Sells $250 Million in Notes

Authored by Mark Hefflinger on February 13, 2004 - 9:05am.
New York -- Sirius Satellite Radio, a provider of satellite-delivered digital radio programming, announced on Friday that it has raised $250 million through the sale of five-year convertible notes to investors. The company will use the new funds for general corporate purposes, and said it may sell an additional $50 million in notes due to demand. New York-based Sirius yesterday raised its subscriber and revenue forecasts for the year, predicting it will now reach 1 million subscribers and bring in $70 million in revenue during 2004. The company also announced a partnership with Radio Shack, which will sell the company's satellite radio receivers in its retail stores. Finally, Sirius said that Volkswagen will make Sirius a factory and dealer-installed option on its 2005 Beetle and Jetta models.
tags: Satellite Radio | Sirius | Notes |

U.S. Copyright Office Publishes Official Music Webcasting Royalty Rates

Authored by Mark Hefflinger on February 13, 2004 - 9:03am.
Washington -- The U.S. Copyright Office this week published the long-delayed official royalty rates that webcasters must pay to stream music online, essentially approving an agreement proposed in April 2003 between the Recording Industry Association of America (RIAA) and a group of large webcasters. The rates, which many webcasters long argued with the RIAA and regulators would be prohibitively high for them to remain in business, will be effective for the period of 2003-2004. Webcasters must make a payment for the period of Jan. 1, 2003 through Feb. 29, 2004 by April 14, and from then on will make monthly payments. The Copyright Office also officially established SoundExchange -- an entity set up by the RIAA -- as the sole collector of these royalties, responsible for distributing payments to artists and copyright holders. 
tags: U.S | Webcast | Musics | Royalty |

Hollywood Duplication Studio Fires 3 Charged With Copyright Infringement

Authored by dmw on February 13, 2004 - 9:02am.
Hollywood -- Lightning Media, a Hollywood film duplication studio and provider of new media services, announced on Friday that it terminated three of its employees following an FBI investigation that revealed the employees were allegedly violating criminal copyright laws. The employees are now facing criminal copyright infringement charges filed in U.S. District Court for the Central District of California. The FBI stated that Lightning Media is in no way culpable for the alleged infringements. "We learned, almost 6 months ago, that some employees were illegally in possession of unreleased feature films," said Lightning Media CEO Steve Buchsbaum. "These employees did so without the knowledge or authorization of Lightning Media. Apparently, they were able to circumvent our stringent piracy protection controls. We worked closely with the FBI to identify the perpetrators and to put a stop to the piracy."
tags: Copyright | Hollywood | Infringement | Studio |

Electronic Arts Acquires "NBA Street" Game Developer NuFX

Authored by Mark Hefflinger on February 13, 2004 - 9:01am.
Redwood City, Calif. -- Video game developer Electronic Arts announced on Friday that it has acquired Illinois-based sports game studio NuFX, which developed EA's "NBA Street" title and is currently at work on its "Fight Night 2004." Financial terms of the deal were not disclosed. The two companies have worked together over the past eleven years on a total of 15 game titles, including EA's "NCAA March Madness," "NBA Live" and "FIFA Soccer" franchises.
tags: Games | Electronic Arts | NBA Street | NuFX |