MusicNet and Verity to Help Customers Find the Right Tune
Verity Software to Quickly Lead MusicNet Audiences to Find Their Favorite Artists Online
SUNNYVALE, CA and SEATTLE, WA - 2002-03-26 - Verity, Inc. (Nasdaq: VRTY), a leading provider of infrastructure software that powers enterprise and e-commerce portals as well as e-business applications, today announced that MusicNet, a digital distribution platform for streaming and downloading music, will offer the Verity® K2- software to its distribution partners seeking faster and more accurate search capabilities.
In development for more than a year, MusicNet combines the music catalogs of major and independent record labels - which now include Warner Music Group, BMG Entertainment, EMI Recorded Music, and Zomba, with media delivery technology from RealNetworks to create a subscription-based technology platform. With Verity K2, MusicNet can offer its partners customizable search features, so that users can quickly and easily find the music they want.
Partners using Verity K2 software will enable users to search and retrieve from their current collection of approximately 100,000 MusicNet tracks, indexed in XML format, with the scalability to handle an ever increasing volume of users and content.
"In the emerging era of digital music, search is a vital component to the service MusicNet provides," said Dr. Ganapathy Krishnan, Chief Technology Officer of MusicNet. "If you can't find it, you can't listen to it. Verity provides quality search that will enable us to provide a rich digital music environment."
"MusicNet provides a broad selection of content to its partners," said Anthony Bettencourt, President of Verity. "The K2 search software will allow users of the service to find the music they want, when they want it, from a broad variety of musical tastes."
About Verity
Headquartered in Sunnyvale, California, Verity is a leading provider of business portal infrastructure software. Verity software gives businesses a multitude of ways to improve access to vital information and perform a range of e-business operations, while enhancing the end-user experience. Verity-powered business portals, which include corporate portals used for sharing information within an enterprise; e-commerce portals for online selling; and market exchange portals for B2B activities, all provide personalized information to employees, partners, customers and suppliers.
Verity products are used by approximately 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, AT&T, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, Cap Gemini Ernst & Young, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, NewsEdge Corporation, SAP, Siemens, Sybase, Time New Media and Timex. In 2001, Delphi Group named Verity as the market leader in the portal infrastructure software market.
About MusicNet
MusicNet is a digital distribution platform for streaming and downloading music. It combines RealNetworks' Internet media delivery technology with the music catalogs of major and independent record labels - which now include Warner Music Group, BMG Entertainment, EMI Recorded Music, and Zomba. As both a technology provider and a music clearinghouse, MusicNet will license its "private-label" platform to companies seeking to sell music subscription services under their own brands. MusicNet is a joint venture between RealNetworks, AOL Time Warner, Bertelsmann AG, EMI Recorded Music and Zomba. MusicNet's corporate information is located on the Internet at http://www.musicnet.com.
This press release contains forward-looking statements relating to Verity and the expected performance of its K2 software in MusicNet's Website. Actual results are subject to risks and uncertainties including the risk that integration of the Verity software into the MusicNet's Website will be delayed or not occur, or not perform as anticipated, as a result of unforeseen technical difficulties. Risks relating to Verity and its products are set forth in its Form 10-K and other reports filed with the United States Securities and Exchange Commission under the caption "Risk Factors".
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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