SOURCE: F3 Technologies, Inc.

F3 Technologies, Inc.

August 24, 2010 09:51 ET

F3 Technologies Signs FargoTube With Last and Largest Copyright Defender

ALPHARETTA, GA--(Marketwire - August 24, 2010) - F3 Technologies, Inc. (PINKSHEETS: FTCH) has signed an agreement for its FargoTube video and entertainment service with the American Society of Composers, Authors and Publishers, whose repertory of nearly 9 million musical works is the world's largest.

The agreement is a pledge by F3 for FargoTube to compensate ASCAP's 390,000 artists appropriately for all content that is uploaded to and streamed through FargoTube. The relationship with New York-based ASCAP confirms FargoTube's commitment to artists because it underscores their common goal: helping artists and content owners regain control over and generate revenue from their own creations.

"With the ASCAP relationship, we're reaffirming our stance on supporting artists and their right to monetize their works," F3 Chief Operating Officer Paul Campbell said. "We look forward to helping ASCAP continue its 96-year commitment to musicians."

F3 has signed separate but similar agreements with the other two groups that enforce copyrights under U.S. law: Broadcast Music, Inc., based in Nashville, Tenn., and SESAC, a Nashville-based organization formerly known as the Society of European Stage Authors and Composers.

Known as "performing rights organizations," the three collectively represent close to 1 million musicians and copyright owners. A songwriter, band or music publisher typically affiliates with one of the three. The PROs enforce copyrights under U.S. law and collect royalties on behalf of the artists from various commercial sources. ASCAP and BMI, the two largest, pass along nearly 89 percent of their collections to artists and use the remaining 11 percent to cover field agents' salaries and purchase technology used to indentify copyright infringement.

PROs have traditionally collected revenue by physically sending out individual field agents who detect unlicensed use by individual radio stations, bars, restaurants and dance clubs -- and then to present licensing agreements.

But the internet's infinite expanse poses new challenges for monetizing music and other content: An artist hoping to collect royalties online has to draw fans to a unique and engaging site that shares revenue generously.

That site is FargoTube, which combines online social networking with distribution of videos, music and high-definition still photos. FargoTube allows musicians, filmmakers and other content owners to stay in touch with their fan bases while profiting directly from their creations.

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Forward-Looking Statements
Certain statements in this release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as anticipate, believe, expect, future, may, will, would, should, plan, projected, intend and similar expressions. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.

Contact Information

  • For more information, contact
    Paul Campbell
    (770) 521-8930