For Immediate Release: March 14, 2002
Contact:
Content Division to Support Deployment of its CintoA Digital Rights Management Technology
Technology Division to Support Infrastructure and R&D and the Continued Development of the Morpheus Software Product
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Franklin, TN.—March 14, 2002— StreamCast Networks™, a peer-to-peer (P2P) technology company and the maker of Morpheus™, is forming separate divisions for Content and Technology. The Content Division is responsible for deploying the CintoA digital wrapping technology and related products and the new MusicCity.com (see related announcement), while the Technology Division will support the underlying network architecture of these and other products as well as continue Research and Development to improve existing products, including Morpheus and introduce new ones.
Content Division
StreamCast’s Content Division is dedicated to providing a way for consumers and content developers to share information freely and directly, that provides sampling and the platform for commerce. The key to the deployment of the CintoA platform will be using the distribution platform of the Morpheus software which, to date, has been downloaded nearly 70 million times and averages 4.5 million unique users daily, making it the most popular P2P software product. The Content Division is also launching a new gateway to find information and download Morpheus software products, available starting end of today at www.morpheus-os.com.
The newly-formed Content Division also allows StreamCast Networks to introduce a new portal, MusicCity.com, a first-of-its-kind Web site where the distribution of digitally-wrapped content is controlled by independent artists, who take 70 percent of the profit while generating name awareness and recognition.
Technology Division
StreamCast’s Technology Division focuses on supporting, researching, and developing technology that enables the Content Division’s mission. StreamCast’s technology group is credited with developing the proprietary infrastructure that enables the Morpheus and the digital rights management technology, CINTOA that allows content to be wrapped and promoted through the MusicCity.com portal.
"The concepts behind Morpheus and MusicCity.com have existed in various forms and companies for over five years, and I’m pleased by our evolution into separate divisions for content and technology under the same roof as StreamCast Networks," said Steve Griffin, chairman and chief executive officer. "Each division can better focus on its individual purpose without straying from StreamCast’s overarching mission - to provide a way for people to communicate and share information directly."
StreamCast Networks also announced today that it has launched a new corporate site at streamcastnetworks.com. The site will host information about the company including management bios, a press room and product information.
About StreamCast Networks, Inc.
StreamCast Networks, Inc., creators of the Morpheus software product, is a leading global communications technology company that is revolutionizing Internet digital media distribution and communications via a unique software-driven solution that enables users to communicate directly with one another more efficiently on an unprecedented scale. StreamCast Networks is backed by Timberline Venture Partners, the independently managed Northwest affiliate of Draper Fisher Jurvetson, as well as angel investors. StreamCast Networks, Inc. operates the MusicCity.com website, which distributes the Morpheus software product. StreamCast Networks is based in Franklin, TN with offices in Phoenix, AZ. For more information about StreamCast and its flagship product Morpheus, please visit MusicCity.com.
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