Generic Media and Virage Partner to Provide Custom Streaming Services for Broadcast and Wireless Applications
Custom applications that deliver on-demand video regardless of platform, device or bandwidth provided by Virage and Generic Media
Las Vegas, NV - NAB2001 - April 23, 2001 - Generic Media, creators of innovative technology and services for the digital media industry, and Virage, Inc. [Nasdaq: VRGE], the leading provider of solutions that enable video for strategic online applications, today announced a technology integration agreement and business partnership. Under the terms of the agreement, Virage will offer integration of the Generic Media™ Publishing Service into custom video solutions, and Generic Media has selected Virage as its preferred provider of encoding services. The combination of custom solutions from Virage and Generic Media gives customers the ability to encode and publish a single Streaming Master, and make it searchable and viewable on-demand, over a multitude of devices, formats and bandwidths.
The integration of the Generic Media Publishing Service will give Virage customers breakthrough capabilities for greatly extending the value and distribution reach of their online video. With the Generic Media Publishing Service, customers utilizing Virage-enabled video are ensured longevity of media assets with ongoing format and device compatibility.
"Through our partnership with Generic Media, Virage frees content owners from format constraints, allowing access to video content immediately, from anywhere, over virtually any type of device." said Carlos Montalvo, Chief Marketing Officer of Virage. "With this integration, our customers won't have to loose sleep over making player and bit-rate decisions, let alone keeping up with the fast pace of streaming media format developments."
"Generic Media's mission is to enhance and streamline streaming media processes and capabilities without forcing techniques and policies that don't fit current customer workflows," said Peter Hoddie, CEO of Generic Media. "We are working Virage to provide their customers the most complete way to simplify their video encoding and format upgrade processes. By allowing search and viewing of video content from any device, at any bandwidth, regardless of original file content, we're dramatically reducing publishers' time to market."
About the Generic Media Publishing Service
The Generic Media Publishing Service is a comprehensive streaming solution that provides a long-term strategy for deploying dynamically optimized media to the widest possible audience. The Generic Media Publishing Service redefines the economics and workflow of Internet media - establishing the ability to publish streaming content once, in the form of a Streaming Master, and immediately deliver it across multiple formats, devices and platforms.
Streaming masters can be stored in a number of industry standard, high quality digital media formats including AVI, MP3, MPEG-1, QuickTime, and WAVE. The Generic Media Publishing Service transforms the streaming master into players already installed by the end-user, including Windows Media Player, QuickTime, Real Player, MP3 players, and gMovie Player at a wide range of bit rates.
About Generic Media
Generic Media provides innovative technology and services that fundamentally change the way video and audio is published and consumed on the Internet. The company's investors include SBVC (SOFTBANK Venture Capital), Sony and NTT Leasing. The Generic Media team consists of pioneering media engineers and executives from major technology companies, including Apple Computer, Microsoft, Oracle, Pinnacle Systems, SGI and Sun. Generic Media was founded in early 2000 and is based in Palo Alto, California. For more information, please visit www.genericmedia.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 250 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 www.virage.com or (650) 573-3210.
This press release contains "forward looking" statements about the products and services of Virage and Generic Media, 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 offer ", "will give," 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.
Copyright 2001 Generic Media, Inc. All rights reserved. The barcode logo, Generic Media and gMovie are trademarks of Generic Media, Inc. in the United States and other countries. Virage and VideoLogger are registered trademarks and the Virage logo, 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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