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Shawn Fanning Details Snocap Venture at Digital Music Forum

Authored by Mark Hefflinger on March 3, 2005 - 7:35am.
New York -- Digital Media Wire hosted its fifth-annual Digital Music Forum at The French Institute in New York on Wednesday, where over 400 readers and digital media industry professionals gathered to attend keynotes and panel discussions on the state of the digital music market. Among the highlights was a keynote interview with Napster founder Shawn Fanning, who for the first time provided details of his new venture, Snocap, which aims to create a central database for digital music rights clearance, in addition to "acoustic fingerprinting" technology that record labels and peer-to-peer networks can use to prevent piracy and monetize file-sharing. "What we're trying to do is enable that vision…and enable that excitement and selection that Napster brought to the world, but do it in a place where people don't have to worry about getting sued; where they can get access to music and know when they download a track they know that it will bet the track they believe it was," said Fanning. Snocap, which plans to launch later this year, has already licensed Universal Music Group's entire catalog for inclusion in its service, and announced today that it has also added the catalog of SonyBMG. An audio file of the Shawn Fanning interview with WIRED editor-in-chief Chris Anderson at the Digital Music Forum is available for download at a link below.
tags: Snocap Venture | Digital Music Forum | Shawn Fanning |

Video Game Industry Introduces New Game Rating for Children Over 10

Authored by Mark Hefflinger on March 3, 2005 - 7:33am.
New York -- The Entertainment Software Ratings Board (ESRB), a video game industry trade group that assigns video game ratings, on Thursday announced the creation of a new game rating category, E10+ (Everyone 10 and older), "to help consumers more easily differentiate between games that have content appropriate for the whole family and games that are suitable for ages 10 and older." The ESRB said it consulted numerous child development experts and academics in creating the new category, which will include games that contain "moderate amounts of cartoon, fantasy or mild violence, mild language and/or minimal suggestive themes." "We expect that many of the best selling sports, racing, and adventure games will continue to receive 'E' ratings appropriate for ages six and older," said ESRB president Patricia Vance. "Games with content that may not be suitable for younger ages of six to nine, such as racing games with more extreme crashes or fighting games with super heroes, will now receive an 'E10+' rating." The new rating was applauded by Sen. Joe Lieberman (D-Conn.). "The ESRB has once again taken timely steps to enhance its rating system for computer and video games," said Lieberman. "I encourage parents to check the rating so that our children can play the video games that are right for them."
tags: Children | Video Game Industry | New Game Rating |

Report: Netflix Ready to Forego Profits for 5 Years to Win Market Share

Authored by Mark Hefflinger on March 3, 2005 - 7:31am.
San Francisco -- Reed Hastings, the chief executive of online DVD rental firm Netflix, recently said he's prepared to forego any profits for up to five years while his company reinvests in marketing to achieve a goal of 20 million U.S. subscribers, Reuters reported. Los Gatos, Calif.-based Netflix currently claims 2.6 million subscribers for its $17.99 per month service, which competes with a recently launched $14.99 per month service from Blockbuster. Netflix lowered its price from $21.99 per month as a means of countering expected competition from online retail giant Amazon, which offers online DVD rentals in the U.K., but so far has not announced expansion plans. "What was the point of lowering the price? It had a very specific goal...to drive a lot of the easy profits out of the marketplace," Hastings told Reuters. "If Amazon doesn't enter, we will feel enormously gratified that our strategy worked…What's the chance of them making a profit in a market with two entrenched players? We are going to fight until the death because we have to. So is Blockbuster."
tags: Reports | Netflix | Forego Profits | Market Share |

Lycos Dumps Yahoo Search Results in Favor of Ask Jeeves

Authored by Mark Hefflinger on March 3, 2005 - 7:29am.
Oakland, Calif. -- Search engine technology provider Ask Jeeves has announced that Lycos has chosen it to replace Yahoo's Inktomi as the provider of search results on the Lycos Web portal. Oakland, Calif.-based Ask Jeeves' search and advertising products are also used by InfoSpace, BellSouth and CNET Networks. "Ask Jeeves' Teoma search technology will deliver outstanding results to users of our new search-centric experience at Lycos.com," said Adam Soroca, general manager of search services for Lycos.
tags: Lycos | Ask Jeeves | Yahoo Search Results |

Napster Raises Guidance on Subscription Strength

Authored by Mark Hefflinger on March 3, 2005 - 7:27am.
Los Angeles -- Napster on Thursday raised its revenue projections for its fourth quarter, crediting "robust growth" in its subscription service. The company now expects revenues of $15 million for the quarter, up from its previous estimate of $14 million. "Since the launch of Napster To Go, we have experienced exceptional demand for all aspects of our business," said Napster CEO Chris Gorog. "Our new marketing campaign is already delivering strong returns by generating unprecedented interest in both our regular and portable music subscription offerings." Napster recently launched a $30 million marketing campaign for its rental-based digital music service, which allows users to transfer unlimited songs to supported portable players for $15 per month.
tags: Napster | Guidance | Subscription Strength |

XM Satellite Radio Signs Multi-Year Deal to Broadcast IRL Races

Authored by Mark Hefflinger on March 3, 2005 - 7:25am.
Washington -- A week after rival Sirius signed a seven-year deal to broadcast NASCAR events starting in 2007, XM Satellite Radio said on Thursday that it has signed a multi-year deal with the Indy Racing League (IRL) to broadcast the IndyCar Series races live, beginning with the Indy 300 at Homestead-Miami Speedway this Sunday. Financial terms of the deal were not disclosed. XM currently is the exclusive satellite radio network for NASCAR, however, Sirius recently signed a $107 million deal to become the exclusive satellite provider for NASCAR starting in 2007.
tags: XM Satellite Radio | IRL Races | Multi-Year Deal |