SOURCE: F3 Technologies, Inc.

F3 Technologies, Inc.

May 25, 2011 09:15 ET

F3 Technologies Notifies Musicians of Royalties Owed

Artists Using FargoTube Can Collect Cash From Performance Rights Nonprofit SoundExchange

ALPHARETTA, GA--(Marketwire - May 25, 2011) - F3 Technologies, Inc. (PINKSHEETS: FTCH) and performance rights nonprofit SoundExchange have identified $1,300 owed to musicians who use F3's FargoTube.com online music/entertainment platform, demonstrating FargoTube's commitment to helping artists build sustainable careers.

Washington, D.C.-based SoundExchange is the only performance rights organization (PRO) authorized to collect royalties for the performing artists and the owners of copyrights on recordings played on satellite radio and on Internet radio services (such as Pandora and Live365), similar to how ASCAP, BMI and SESAC collect royalties for songwriters and publishers. SoundExchange has distributed $614 million in royalties since its establishment in 2003.

SoundExchange researched hundreds of musicians using FargoTube and identified 10 that had not yet claimed royalties collected on their behalf. F3 notified the 10 musicians and advised them to register with SoundExchange, free of charge, to collect the total $1,300 in royalties.

"Our work with SoundExchange underscores F3's rock-solid commitment to supporting artists and their right to monetize their artistic works," F3 Chief Operating Officer Paul Campbell said. "It's an extension of FargoTube's very business model."

F3 works pro-actively with SoundExchange, as well as songwriting PROs ASCAP, BMI and SESAC, to compensate musicians and other artists whose content is uploaded to and streamed through FargoTube. The relationships with the four PROs underscore the goal that FargoTube shares with all four: helping artists and content owners regain control over and generate revenue from their own creations.

"The digital music space is always expanding," said SoundExchange VP Bryan Calhoun. "Fortunately, artists and copyright holders can benefit from these innovative services. Registering with SoundExchange is a big part of maximizing music in the digital space, and we're grateful for partners like F3 that help us inform artists about these rights and revenues.

Artist and copyright holder compensation has become especially crucial in the decade since the internet began to facilitate the digital replication and sharing of music. The internet's infinite expanse provides a new challenge in monetizing music and other content, F3 execs noted.

F3 COO Campbell continued, "PROs like SoundExchange help bridge the revenue gap of a changing music model. Artists hoping to monetize their online music fully should draw fans to an engaging site like FargoTube that allows them to stay in touch with their fan bases while profiting directly when their content is downloaded, streamed, or otherwise used."

ABOUT FARGOTUBE
FargoTube (www.fargotube.com) is an online distribution and social-networking platform that is free to musicians, record labels, filmmakers and other content owners, allowing them to upload their music and videos, build a fan site, sell merchandise and connect with their fans through a central service. It offers independent artists the platform and tools for developing their business and careers. This new partnership will serve independent artists in all genres of music and multiply their opportunities for success. FargoTube is unique in the $4-billion-and-growing digital music industry in that it combines online social networking with distribution of videos and music, and even serves as a base for a profitable website complete with custom design, an online store and other tools.

ABOUT SOUNDEXCHANGE
SoundExchange
is the non-profit performance rights organization that collects statutory royalties from satellite radio, internet radio, cable TV music channels and other services that stream sound recordings. The Copyright Royalty Board, which was created by Congress, has entrusted SoundExchange as the only entity in the United States to collect and distribute these digital performance royalties for featured recording artists and master rights owners. SoundExchange has paid out more than $614 million in royalties since its creation in 2003.

ABOUT F3 TECHNOLOGIES, INC.
F3 Technologies (www.f3technologies.com) is a software innovator that creates specialized social networks for groups ranging from homeowners associations to music fans. Its products include Interaction Community Systems™, an online tool for homeowners associations and other member groups; and Interactive Defense System™, for police and other municipal departments.

Follow us at Twitter.com/f3technologies, Twitter.com/fargotube and f3technologies.wordpress.com.

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