Loudeye Corp. (LOUD)

[IAMSAM]

Loudeye Strengthens Management Team With Two Executive Appointments

PR Newswire - March 09, 2004 16:10

New Executives Bring Significant Industry Experience in Strategy, Finance, Sales, Marketing, and Operational Management


SEATTLE, Mar 9, 2004 /PRNewswire-FirstCall via COMTEX/ -- Loudeye Corp. (Nasdaq: LOUD), the worldwide leader in business-to-business digital media solutions, today announced the appointments of Larry Madden as executive vice president and chief financial officer, and Bill Fasig as executive vice president of business development, sales and marketing. With decades of experience across major corporations, technology companies and music businesses, the appointments of Madden and Fasig strengthen Loudeye's ability to capitalize on emerging opportunities in the digital media marketplace.

"We believe Larry and Bill's extensive, executive level experience, industry relationships and proven track record for driving growth in both domestic and multi-national markets will be important assets for Loudeye," said Jeff Cavins, president and chief executive officer of Loudeye. "The market for our digital music solutions is rapidly expanding across the globe as more companies realize the impact of digital music on their business. We look forward to having Larry and Bill's strategic expertise and global business development experience to accelerate our worldwide presence and drive the deployment of our products and services."

Larry Madden, Loudeye's executive vice president and chief financial officer

Madden brings nearly 20 years of experience in senior financial management, most recently serving as executive vice president, chief financial officer and chief administrative officer for Equity Marketing, Inc., a Los Angeles based provider of integrated marketing services for connecting multinational corporate brands with popular entertainment content. Previously, Madden was executive vice president and chief financial officer for Atomic Pop, an online music distribution and marketing venture. Before that he served as senior vice president and chief financial officer for the recorded music and music publishing investments of Wasserstein & Co., Inc., an investment bank. Madden also held executive financial roles at Def Jam Records and Polygram International, a leading music and entertainment company. He began his career at Ernst & Young, where he spent 8 years in the firm's media and entertainment practice.

"As consumers' preference continue to shift from physical delivery to legitimate digital media stores and services, the revenue potential for Loudeye increases substantially while our partners find new opportunities for online distribution," said Larry Madden, Loudeye's executive vice president and chief financial officer. "I look forward to being part of this team and helping drive the next generation of business-to-business digital media services."

As executive vice president and chief financial officer, Madden will oversee all aspects of Loudeye's financial operations, human resources and administration, legal and business affairs, and strategic planning. Loudeye's current chief financial officer, Jerry Goade, is assuming the role of senior vice president of finance.

"As we continue to grow on a global scale with increasingly complex deal structures, we will draw on the expertise and strategic insight from our senior financial executives," said Jeff Cavins, Loudeye's president and chief executive officer. "Adding Larry to this team enhances our financial leadership in managing the future growth of the company."

Bill Fasig, Loudeye's executive vice president of business development, sales and marketing

Prior to joining Loudeye, Fasig served as senior vice president of worldwide marketing and corporate affairs for VeriSign, Inc., where he was responsible for the development, implementation, and management of worldwide marketing strategies. In addition, Fasig supervised campaigns for corporate, divisional and geographic business units as well as directed regulatory issues, government relations and industry affairs. In 2001, Fasig was named AdWeek's Technology Marketing magazine's "Marketer of the Year." Before VeriSign, Fasig served as vice president of corporate communications for Compaq, and was chairman and managing director of the global technology practice at Young & Rubicam/Burson-Marsteller. Prior to that, he held several senior management roles during his 9-year tenure at Apple Computer and served as a policy analyst for the U.S. Department of Defense.

In his new role, Fasig will oversee all aspects of Loudeye's worldwide business development and sales, corporate communications, brand building and marketing strategy and execution -- helping to facilitate the further adoption of Loudeye's turnkey digital music and media solutions across the globe.

"The digital music market stands at a pivotal point where companies are seeking offerings to meet growing consumer demand and content owners are looking for new, secure revenue opportunities. Loudeye is perfectly positioned in the middle of the value chain with a strong solution suite and robust media operations infrastructure," said Bill Fasig, Loudeye's executive vice president of business development, sales and marketing. "I look forward to furthering Loudeye's leadership position, expanding our market penetration and driving growth for the company worldwide."

About Loudeye Corp.

Loudeye is the worldwide leader in business-to-business digital media solutions and the outsourcing provider of choice for companies looking to maximize the return on their digital media investment. Loudeye combines innovative products and services with the world's largest music archive and the industry's leading digital media infrastructure enabling partners to rapidly and cost effectively launch complete, customized digital media stores and services. Loudeye, The Business Behind Digital Media(TM). For more information, visit www.loudeye.com.

Forward Looking Statements

This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, including statements by Loudeye's CEO about the anticipated performance of Larry Madden as executive vice president and chief financial officer, and Bill Fasig as executive vice president of business development, sales and marketing, and statements by Loudeye's CEO, Mr. Madden and Mr. Fasig relating to the company's growth opportunities resulting from the achievement of Mr. Madden and Mr. Fasig's objectives. These statements are based on current expectations and actual results may differ materially due to risks and uncertainties, including lower- than-expected revenue growth, market penetration, and efficiency increases following the addition of Mr. Madden and Mr. Fasig to the executive team; Loudeye's ability to retain key personnel; unexpected difficulties or costs associated with the integration of Loudeye's multiple technical systems, the possibility of adverse changes in the market for the distribution of digital media; and other risks and uncertainties set forth in our most recent Form 10- Q, Form 10-K and other SEC filings which are available through EDGAR at www.sec.gov. We assume no obligation to update the forward-looking statements.

SOURCE Loudeye Corp.

Media/press, Candice Yusim, [e-mail], or Karen DeMarco,
[e-mail], both of mPRm Public Relations, [phone], for
Loudeye; or Investor relations, Michael Dougherty of Loudeye, [phone]
or [e-mail]

http://www.loudeye.com

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