Warner Music Group and Qtrax Sign a Digital Licensing Agreement

Warner Music Group (NYSE: WMG) and ad-supported music service Qtrax announced today an agreement to make WMG's award-winning catalog of digital music available to music fans worldwide over the Qtrax service.

"Warner Music Group continues to be a pioneer in the digital music space and we are thrilled to be able to announce our global licensing deal with them," said President and CEO of Qtrax Allan Klepfisz. "They have one of the greatest collections of iconic American record labels and recognizable artists and we could not be more excited to be partnering with them. The Qtrax platform, among other things, incorporates a unique legal peer-to-peer experience that we strongly believe will compete favorably with illegal sites and will prove the ad supported model to be a viable and valuable alternative in the future monetizing of free music," continued Klepfisz.

In making the announcement, Stephen Bryan, Senior Vice President, Digital Strategy and Business Development, WMG, said, "Today's music industry is undergoing a dynamic transition which has us continually exploring fresh ways of delivering music to consumers. We look forward to leveraging platforms like Qtrax's to broaden the reach of our artists' music and provide consumers with a unique and legal music-discovery experience."

Qtrax showcases an ad-supported delivery model that easily and accurately directs revenue back to artists and rights holders. Users who download and install the Qtrax client will be able to use it to search for, discover and download a colorful and diverse catalog of high-quality digital music files numbering in the millions. Qtrax will monetize the experience by selling sponsorships and advertising displayed during the search and listening processes. Additionally, users will have the option to purchase music and related items from a third party throughout the Qtrax interface.

About Warner Music Group (www.wmg.com)

Warner Music Group became the only stand-alone music company to be publicly traded in the United States in May 2005. With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Bad Boy, Cordless, East West, Elektra, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. and Word. Warner Music International, a leading company in national and international repertoire, operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group also includes Warner/Chappell Music, one of the world's leading music publishers, with a catalog of more than one million copyrights worldwide.

About Qtrax (www.qtrax.com)

Qtrax is the world's first free and legal peer-to-peer music service and showcases an innovative ad-supported downloading model that easily directs revenue back to artists and rights holders. Qtrax has successfully signed licensing deals with major labels, music publishers and leading indies, including: Warner Music Group (WMG), Warner Music International, Warner Chappell, EMI Music North America, EMI Publishing, Sony BMG MUSIC ENTERTAINMENT, Sony/ATV Publishing, Universal Music Group North America, Universal Music Group International, Universal Publishing, TVT Records, Beggars Banquet and more. Qtrax will soon provide fans with access to a colorful and diverse catalog with millions of high-quality, high-fidelity digital music

Safe Harbor

This announcement contains express or implied forward-looking statements which involve known and unknown risks and uncertainties that could cause actual results to differ materially from those suggested, including but not limited to risks identified and discussed in company filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management's expectations as of the date hereof and future results may differ materially from expectations and the company disclaims any obligation to update them except as required by law.

SOURCE: Qtrax

CONTACT: Shamin Abas of Qtrax,

+1-917-494-9288,

or Amanda Collins of WMG,

+1-212-275-2213

--Distributed by AsiaNet ( www.asianetnews.net )--

• ข่าวWarner Music Group
• ข่าวo:asn
• ข่าวo:gen
• ข่าวo:ent
• ข่าวen