Vringo and Stingray Music USA Sign Video Karaoke Content Deal
NEW YORK, Dec 16, 2010 (GlobeNewswire via COMTEX) --
Vringo, Inc. (NYSE:VRNG), a provider of video ringtones and personalization solutions for mobile devices, today announced that it has signed a content license agreement with Stingray Music USA ("Stingray Music"). Under the terms of the agreement, Stingray Music will license the use of its proprietary, The KARAOKE Channel-branded video recordings, to Vringo to create video ringtones and be the exclusive partner for Vringo for the Karaoke Video category. Financial terms of the agreement were not disclosed.
Vringo will make the new karaoke video content available for purchase through all four of its existing co-branded carrier services as well as via its upcoming launch with Orange UK. In addition, Stingray Music content will be made available through Vringo's app store distribution partners such as the Google Marketplace and Nokia's Ovi Store.
Andrew Perlman, President of Vringo, said, "Stingray Music has the highest quality of karaoke video based on well-known pop artists. We are very pleased to be working with Stingray Music to make this exciting content available to Vringo users in all of our markets. Our initial array of karaoke content will include a number of current and older hits."
Eric Boyko, President of Stingray Digital, owners of Stingray Music and The KARAOKE Channel, said, "I'm convinced that 'Show me your Vringo' has never been more personalized than with your own individualized karaoke moment provided through Stingray."
Vringo's fully-hosted carrier platform has now been deployed for international partners in five markets, with new launches anticipated in the next quarter. Vringo's scalable cloud-based distributed application architecture enables the carrier's subscribers to browse and download mobile videos, set them as video ringtones and instantly share them with friends. In addition to carrier partners, Vringo has content partnerships with major content providers including T-Pain, Marvel, Discovery Mobile, Ingrooves and Agence France-Presse.
About Stingray Music USA
Stingray Music is a unit of Stingray Digital Group. Stingray Music commercializes a library of over 14,000 re-recorded hits in three versions. The company delivers note-perfect reproductions of the world's best known music, with or without vocals, for use in TV, advertising, ringtones, video games, consumer products and karaoke applications.
Stingray Music's extensive customer list includes world-leading entertainment brands such as Disney, Paramount, EA, Fox, and a number of advertising agencies and production houses.
For more information, visit http://www.stingraydigital.com and http://www.thekaraokechannel.com
Founded in 2006, Vringo (NYSE:VRNG) is bringing about the evolution of ringtones. With its award-winning video ringtone application and mobile software platform, Vringo transforms the basic act of making and receiving mobile phone calls into a highly visual, social experience. By installing Vringo's application, which is compatible with more than 200 handsets, users can create or take video, images and slideshows from virtually anywhere and make it into their personal call signature. Vringo's patented VringForward(TM) technology allows users to share video clips with friends with a simple call. Vringo has launched its service with various international mobile operators and dozens of content partners, and maintains a library of more than 5,000 video ringtones and growing. For more information, visit http://ir.vringo.com.
The Vringo, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8289
For more information about how video ringtones work, visit www.vringo.com/p_video_ringtones.html.
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Vringo expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a results of new information, future events or otherwise, except as required by law.
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SOURCE: Vringo, Inc.
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