QTRAX and BMI Announce Licensing Agreement
"Since we signed the first license for the performance of music on the Internet, we have continued to work with emerging technologies that create new venues for the performance of BMI music. By signing the BMI agreement, QTRAX is breaking new ground for a new breed of licensed peer-to-peer services," said Richard Conlon, Vice President, Business Development and Marketing, Media Licensing at BMI. "The QTRAX service includes a new QTRAX file format, which secures the music within its environment. We hope that the BMI agreement will be the first in a series of agreements that QTRAX and others will enter into, to create totally licensed services."
Mike Rudd, President & CEO of Singwell International said, "It has taken two and a half years to reach Singwell's goal of facilitating a middle ground between the record industry, songwriters, publishers and the P2P software industry. Each of these industry stakeholders will benefit from the targeted promotion to the consumer we can provide. "
The QTRAX software will enable consumers to download and play songs for free on their PCs while revenue is utilized from targeted advertising to fund the distribution of royalties to artists. Should consumers wish to burn the song to CD or download to an mp3 player, a fee will become payable. The software also alters the file type by permanently attaching digital rights management features to the mp3 files. These alterations will result in the automatic reporting of performance data to BMI while retaining user anonymity. "We look at this technology as revolutionary in the P2P space," said Rudd.
The digital rights management features have been developed by LTDnetwork, Inc. for installation into Singwell's QTRAX product. "We believe that this long-awaited service is a solution to the current struggle with the P2P dilemma, and will open the door to a more profitable way to conduct business in this space," added Rudd.
"There is a new generation that considers it their birthright to download music free. Our goal is to find a way to at least partially satisfy this view while entering into licensing arrangements that provide revenue for the artists and the industry. Being legitimate should not preclude giving consumers what they want," said Allan Klepfisz, President & CEO, LTDnetwork, Inc.
Singwell International is an international technology distribution company that distributes QTRAX technology and related P2P products.
LTDnetwork, Inc. specializes in the development of innovative proprietary software for leading Internet companies in the online advertising, price comparison, music download and gaming sectors. Headquartered in New York City with its R&D facilities in Melbourne, Australia, LTDnetwork, Inc. develops products that can significantly and often uniquely enhance the performance of companies in these business segments, while providing attractive additional functionality for consumers.
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