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UPDATE: Music Streaming Company CUR Media Taps Former Sirius Executive as Strategic Advisor
|By Marketwired .
|May 19, 2014 11:33 AM EDT
SOUTH GLASTONBURY, CT -- (Marketwired) -- 05/19/14 -- CÜR Media (OTCBB: CURM), a Delaware corporation, today announced that Sirius Satellite Radio programming executive Jay Clark has joined the company as a strategic advisor.
Formerly the Executive Vice President of Programming at Sirius Satellite Radio (NASDAQ: SIRI), Jay and his staff developed and innovated Sirius' initial 68 channels of music, 8 channels of sports, and 44 channels of news, information, and variety programming, creating a new media powerhouse and changing the face of radio forever.
"Jay brings to CÜR Media a combination of innovative thinking and deep industry experience that can help us on many levels," said Tom Brophy, Founder and CEO, CÜR Media. "Jay has led several notable programming radio turnarounds in tier one markets, and has decades of major market programming successes with leading broadcast companies including ABC, Greater Media, CBS, and Entercom. We have no doubt that Jay will help us to deliver a new streaming model, with new offerings that appeal to a broader set of consumers."
CÜR Media recently completed a $9.6 million financing round as part of its January 28, 2014 announced alternative public offering. The Company is developing CÜR Music (www.curmusic.com), a hybrid music streaming service for mobile devices and the web that blends the best of internet radio services like Pandora with on-demand services like Spotify. The Company plans to launch its web and mobile applications in Q4 of 2014.
"The streaming industry is in need of disruption, and CÜR Media is introducing new models that are pretty compelling to broader markets," said Jay Clark. "I look forward to bringing key insights from my years with traditional and new media, while helping CÜR Media think through the large opportunity that it faces. As streaming revenue continues to climb year over year, we see significant opportunity to innovate and deliver new models that appeal to more people."
The Company began testing its service in early 2012 as "Raditaz", a DMCA compliant internet radio product developed on iPhone and Android platforms. The Company is based in Connecticut, and is led by digital media entrepreneur Tom Brophy and entertainment and music industry veterans John A. Lack (creator of MTV, Nickelodeon, ESPN2 and The Movie Channel) and Bob Jamieson (former Chairman/CEO of RCA Records).
For more information, please visit www.curmusic.com.
About CÜR Media
CÜR Media is developing CÜR Music, a hybrid music streaming service, for mobile devices and the web that intersects internet radio services like Pandora and on-demand services like Spotify. The Company is planning to launch its web and mobile applications in the 4th quarter of this year.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the development of commercially viable streaming music product, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing, the length of time associated with development of mobile applications and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies.
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