Encounter Development Technologies Inc. (ENTI)

[MDPennyPlayer]

THis is the news they are talking about:

Encounter Technologies Partners with Medianet to Sell Content
Wednesday 07/28/2010 1:05 AM ET - Close-up Media



As of 10:06 AM ET 7/28/10
Encounter Technologies CEO Rick Dibiase announced that ENTI's music video has finalized an agreement through its relationship with Medianet with a recorded music business and publishing business, to sell and feature select material toward additional content and potential revenues.

"It's not just a label, but a home to some of the best-known labels in the recorded music industry," said Dibiase, in a release. "We see a good opportunity in harvesting a progressive relationship with the group which features an artist services business, offering artist management, merchandising, touring, fan clubs, VIP ticketing, sponsorships and brand endorsements, and numerous third-party solutions that facilitate the sale of music-based content directly to consumers. I feel this would be great fodder for tie-ins down the road for MusicMatrix."

The company's primary music publishing business has a catalog of more than one million songs from more than 65,000 songwriters.

MusicMatrix features an interactive platform which allows the user to upload, edit and share music videos.

"This is a tremendous success for MusicMatrix and ENTI executives, partners and shareholders," said Dibiase. "It's great because it's demonstrative of the site's capacity to be ever-evolving. It's important for shareholders to recognize the tremendous headway we've made in these developmental stages, with the ability to secure revenues alongside additional updates and features all the while, including ancillary components such as the MusicMatrix iPhone app."

Digital Music sales were more than $2.9 billion last year and continue to increase. As legislature continues to tighten against piracy, those numbers are predicted to increase exponentially over the next few years, with digital music sales overall surpassing CD sales by 2011, conservatively.

MusicMatrix will continue to expand its catalog and video editing capabilities as it nears announcement of the company's celebrity spokesperson in line with the MusicMatrix national Dish Network campaign.

Encounter Technologies provides technology and online marketing services.

((Comments on this story may be sent to [e-mail]))