Sekani Partners with Virage for Media Licensing Initiative
Leader in Moving Images Leverages Virage Platform for Online Marketplace
SAN MATEO, Calif - February 21, 2001 - Virage, Inc. [Nasdaq: VRGE], a leading provider of software and services that enable video for strategic online applications, today announced that Sekani, Inc., a leading media services company, is leveraging the Virage Video Application Platform as part of the company's innovative online media licensing marketplace at www.sekani.com. Under the terms of the partnership, Sekani is using Virage software and services to enable media, advertisers and corporations to easily search, preview and purchase licensed and royalty-free video online at www.sekani.com. The initiative draws upon Sekani's more than 80,000 hours of stock footage, from a wide array of media sources.
"Our media licensing marketplace will have an enormous impact on the way media licensing is done, giving creatives a powerful new resource while providing media companies with a rich revenue channel for their video archives," said Ron Bernard, CEO, Sekani. "Virage has been an important partner in helping us build, deploy and launch this initiative, and we expect to continue to work with them on future projects."
Sekani's collection, one of the world's largest and most diverse archives of moving images, spans over 100 years. Sekani's notable collections include Metro-Goldwyn-Mayer Studios Inc., Paramount, ESPN, the National Hockey League and the Smithsonian.
Virage worked closely with Sekani to design and build a unique video search functionality that allows users to submit text search terms, view video keyframes, and then click on a link to view the clips. Users have an option to add clips to a secure "ClipBin" where they can be purchased in various formats, then shared with colleagues, viewed, storyboarded and annotated. The site also allows content purchasers and designated collaborators to subsequently add notes, edit, add and delete clips to their individual bins. The Sekani media channel is targeted to users of stock footage, such as advertising agencies, media publishers, independent movie producers, video journalists and commercial producers. Sekani expects to eventually offer more than 100,000 clips online.
"The Virage platform makes it easy for companies to offer searchable video over the Internet, increasing the value of their media assets," said Carlos Montalvo, chief marketing officer at Virage. "Sekani's use of Virage demonstrates how effectively archived videos can be monetized and converted into a global media exchange via the World Wide Web, letting others utilize the footage in a multitude of ways that fits their specific needs."
About Sekani, Inc.
Sekani, Inc. provides advanced media asset management services to businesses around the world. Combining broadband and Internet technologies with the world's largest rights, clearance, and licensing resource, Sekani is transforming the way rich media is stored, searched, purchased, delivered and applied.
A privately held company, Sekani's investors include Corbis, the leading provider of photography and fine art on the Internet, founded by Bill Gates; iXL, a leading strategic services company, founded by Bert Ellis; RRE Ventures, a leading New York-based venture capital firm specializing in information technology companies; ComVentures; Bessemer Venture Partners; Infinity Capital; WaterView Advisors and the Wakefield Group. Sekani has offices in New York, Los Angeles, Atlanta and Germany , as well as exclusive representatives worldwide. For more information about Sekani call 1-866 4SEKANI (1-866-473-5264) or visit the Website at www.sekani.com.
About Virage, Inc.
Headquartered in San Mateo, California, Virage is the leading provider of solutions that enable video for strategic online applications. The Virage Video Application Platform transforms video into an effective online medium that is easy to publish, manage and distribute on the Internet or corporate intranets. The Virage platform provides content owners with the complete infrastructure for seamlessly integrating streaming video into business, entertainment and information applications. From ABC to Yahoo! over 200 customers across a broad range of markets have turned to Virage to help them improve production efficiencies and create new revenue opportunities with video. Contact Virage at http://www.virage.com/ or (650) 573-3210.
This press release contains "forward looking" statements about the products and services of Virage and Sekani, as that term is used in Section 21E of the Securities Exchange Act of 1934. Forward looking statements are denoted by such words as "will have", "intends to" and similar terms and phrases. These types of statements address matters that are subject to risks and uncertainties which could cause actual results to differ materially. In addition, our forward-looking statements should be considered in the context of other risk factors discussed in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1, as amended, available online at www.sec.gov.. All forward-looking statements are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements.
Virage, VideoLogger and the Virage logo are registered trademarks and, Virage Application Server and SmartEncode are trademarks of Virage, Inc. Other company product and service names may be trademarks or service marks of others, and are hereby acknowledged.
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