Genmed Holding Corp. (fka GENM)

[DueDillinger]

GENM doesn't seem to have a clue what the rest of the industry is doing, and they're dreaming if they think a 10k-tune site is going to have any impact whatsoever with competitors like Walmart, Apple, Microsoft, Sony, RealNetworks, Virgin and soon Yahoo. Compare the recent PRs from GENM and Virgin. (Try not to laugh too hard at the wannabes from Montreal.)

Virgin launches US music downloads

SEPTEMBER 28, 2004
BRITISH tycoon Richard Branson's Virgin Group is jumping into the market for online music, with a "Digital Megastore" offering US customers song downloads for US99c ($1.40).

The move pits the British magnate's company against the popular Apple iTunes music service, Microsoft's MSN and others offering pay-per-download.

Virgin said it would offer more than one million songs on its site and would be selling at least 50 portable music players.

"Virgin stands for innovation, fun, and an absolute dedication to customer value," Mr Branson said in a statement.

"We worked directly with passionate music fans around the world and together we've come up with a digital music service that truly defines the Virgin energy and spirit. It's time for a digital music revolution."

The venture is a new challenge for Mr Branson, the tycoon who made his initial fortune in the record industry, heads Virgin Atlantic airlines and has also launched a string of other companies in sectors such as railways, mobile phones, internet access and soft drinks.

Virgin also will offer a subscription-based service, called Digital Music Club, for $US7.99 per month, allowing unlimited access to its library, and a streaming music and radio service.

This offers a lower price than some rivals for this type of service, which would allow users to listen to an unlimited amount of music from their computers but not transfer to CDs or other devices.

"They will have the challenge of educating the customers and make it clear that you don't own your songs if you stop paying your bills," said Gartner analyst Mike McGuire.

Mr Branson's venture is a relative latecomer to the burgeoning market for online music downloads.

Apple became a quick market leader last year when it launched its iTunes services, aiming to offer a legal alternative to song-swapping, which has spawned legal action from the music industry.

Apple says it has sold 125 million song downloads and has a 70 per cent market share of the legal digital music market.

Another major player is Napster , which was initially a file-swapping service until forced into bankruptcy by lawsuits, and then was purchased and transformed into a fee-based service.

Wal-Mart, Sony and RealNetworks also offer similar services, and Yahoo is widely expected to launch one soon.

But strategies vary for the different online music ventures. For Apple, the service is seen as promoting the sale of its popular iPod music players; for Microsoft, it helps promote its Windows operating system by offering music in the WMA (Windows Media Audio) format.

Apple, Sony and RealNetworks use their own technical formats; each format is generally compatible with specific music players, and Microsoft appears to have an edge in the number of devices using the WMA format.

Virgin, which has adopted the WMA format, claims it will make up for its late arrival with extra customer service, including live online music and technology assistance, and links to album credits and artist biographies.

Mark Mulligan of Jupiter Research in London said Virgin's experience as a music retailer can provide the company with an edge.

"Retailers such as Virgin . . .have an ongoing relationship with their customers, so it's a lot easier for them to migrate customers (to the internet)," he said.

http://australianit.news.com.au/articles/0,7204,10905255%5E15336%5E%5Enbv%5E15306-15318,00.html


GENM Hits Music Industry With 'Pick & Choose' Downloads
Wednesday September 29, 2:39 pm ET

Customers Can Download Just One or Two Cuts - They Don't Have to Pay for the Whole Album Any More

MIAMI--(BUSINESS WIRE)--Sept. 29, 2004-- Grand Entertainment & Music, Inc (OTC: GENM - News) will rock the music industry with the introduction of its new high-tech "Pick & Choose" program that allows any music-lover to download one or two songs from an album without paying for the whole album, CEO Frederick Berlin told stockholders.

"For a while at least, we will be the new force in the music and recording industry," said Berlin, "because we are offering exactly what those who download music want.?"

GEMN, through acquisitions owns the copyright or controls thousands of albums, en route to a planned inventory of at least 10,000 cuts.

"Very simply, we are radically changing the business," Berlin said. "It used to be, there'd be maybe one cut on an album the customer wanted. The rest? He couldn't care less. But he had to pay to download the whole albums to get the one cut he wanted. But no longer. We allow him to economically download only the selection he wants.

"We believe that this will be readily embraced by music downloader's, and that we will achieve at least $1,000,000 in sales in 2005 from this enterprise alone," the CEO said.

GENM is a virtual entertainment industry under one corporate umbrella. Its subsidiaries and alliances include:

-- Cherry Production and Recording Studio,
-- Gem Records,
-- Perform Arts International,
-- JBS Sound & Lighting,
-- Gem Productions, and
-- Gem Music & Imagination Discs & Records.

A recent profile of the company, as published in an online journal, is available by e-mailing [e-mail] .

"When you bought GENM stock, you bought into all these enterprises," Berlin told stockholders. "And we are just getting started.

"By pursing our agenda of aggressive acquisition and consolidation of small recording companies and labels with properties of high potential," he said, "we are moving toward our goal of becoming one of the major players in the music business."

For more information please contact Mr. F. Underhill at [phone] ext. 601 or visit the Company website at www.gem-music.com.

Safe Harbor Statement

This release contains forward-looking statements with respect to the results of operations and business of Grand Entertainment & Music (GEM) Inc. which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.

Contact:

Grand Entertainment & Music, Inc.
Mr. F. Underhill, 514/328-9348 ext. 601
[e-mail]
www.gem-music.com

http://biz.yahoo.com/bw/040929/295717_1.html

I'm sorry, but Berlin's line about 'radically changing the business' cracks me up every time I read it.

BWAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!