SOURCE: Lime Wire LLC
August 26, 2008 16:15 ET
Lime Wire Signs Distribution Deal With The Orchard
Partnership Pushes LimeWire Store Music Inventory to Over Two Million Recordings
NEW YORK, NY--(Marketwire - August 26, 2008) - Lime
Wire LLC announces a partnership with The Orchard, a global leader in
digital music and entertainment, to sell their expansive digital music
catalogue of more than 1.2 million songs in the LimeWire Store. The current deal
brings the total number of sound recordings available in the LimeWire Store
to over two million open-MP3 downloads.
"The Orchard's top flight, broad and diverse music repertoire will enrich
our users' music-buying experience. I believe this partnership will help
expand the digital music market for us and will equally benefit our artist
and label partners," said Lime Wire CFO Jesse Rubenfeld.
"We're pleased to support the LimeWire Store, a retail offering that
protects copyrights while fairly compensating artists and labels," said
Greg Scholl, President and CEO of The Orchard. "This exciting entrant to
digital retail offers us a unique opportunity to connect our clients with
an online audience of potentially millions of new customers."
LimeWire Store launched in the spring of 2008, selling 256kbps, DRM-free
MP3s provided by partners including Redeye Distribution, Nettwerk Music
Group, IRIS, and others. Its digital music offering has grown to include
recordings by today's popular indie artists as well as classics from music
legends. Lime Wire's music team is committed to providing participating
artists and labels unique promotional opportunities with events, exclusive
releases and targeted marketing.
About Lime Wire LLC
Lime Wire LLC (www.limewire.com) develops powerful, sophisticated software
offering an unparalleled user experience. Its signature products, LimeWire BASIC and LimeWire PRO, run on the
decentralized Gnutella Network and are among the world's most popular
peer-to-peer file sharing applications. Founded in 2000 by Chairman Mark
Gorton, Lime Wire is a leader of innovative
peer-to-peer software development and solutions in the file sharing
industry. The company currently employs the largest number of expert Java
developers at the forefront of the file sharing revolution. LimeWire Store
sells high-quality, DRM-free
MP3 downloads a la carte and through low-cost subscription plans.
Intelligent product placement, unique editorial content, and links within
Lime Wire's ecosystem are utilized to market and merchandise its licensed
music. Additional titles from established and developing artists are
produced and sold exclusively through LimeWire Store. The Lime Wire team
enjoys a dynamic work environment at company headquarters in New York City.
About The Orchard®
The Orchard (NASDAQ: ORCD) controls and globally distributes more than 1.2
million songs and over 3,000 hours of video programming through hundreds of
digital stores (e.g. iTunes, eMusic, Google, Netflix, V CAST) and mobile
carriers (e.g. Verizon Wireless, Vodafone, Bell Canada, 3). With
operations in 27 countries, The Orchard drives sales for its label,
retailer, brand, and agency clients through innovative marketing and
promotional campaigns; brand entertainment programs; and film, advertising,
gaming and television licensing. A pioneer in digital music and media
services, The Orchard fosters creativity and independence.
The Orchard is a registered trademark and The Orchard logo is a service
mark of Orchard Enterprises NY, Inc. All Rights Reserved.
This release may contain certain forward-looking statements regarding The
Orchard's expectations regarding future events and operating performance
within the meaning of Federal Securities laws that are subject to certain
risks and uncertainties and involve factors that may cause actual results
to differ materially from those projected or suggested. Factors that could
cause actual results to differ include, but are not limited to, the ability
of The Orchard to distribute certain products and artist recordings. Undue
reliance should not be placed on such forward-looking statements as they
speak only as of the date hereof, and The Orchard undertakes no obligation
to update these statements to reflect subsequent events or circumstances
except as may be required by law. Additional factors that could cause
actual results to differ materially from those projected or suggested in
any forward-looking statements are contained in The Orchard's most recent
periodic reports on Form 10-K and Form 10-Q that are filed with the
Securities and Exchange Commission.