Onstream Media Enters into Strategic Partnership with Index Stock Imagery
Enhances DMSP Platform with Access to 80,000+ Images
Nov 9, 2005
POMPANO BEACH, FL – November 9, 2005 – Onstream Media Corporation (OTC: ONSM), a leading online Application Service Provider (ASP) of live and on-demand, digital media communications and applications, announced today that it has entered into a strategic partnership with Index Stock Imagery (“Index”), one of the world's leading stock photography agencies representing 1,700 photographers and serving 200,000 customers from around the globe.
This partnership continues Onstream’s strategy of providing a broader range of integrated media products and service offerings to its growing customer base. Index’s Photos to Go Unlimited product will be integrated into the Onstream Digital Media Services Platform (DMSP). Each user of the DMSP will be granted a subscription license to use over 80,000 royalty-free low resolution stock images from the Photos to Go Unlimited catalog. In addition, all DMSP users will have an option to upgrade to Index’s premium catalog Index Open, which offers more than 80,000 high-resolution stock images.
Bahar Gidwani, chief executive officer of Index Stock, stated, “We are pleased to have Onstream Media as a partner. Our expansive library of over 1,000,000 stock images, when combined with the hosting services of the Onstream DMSP, offers businesses of any size a very powerful tool to integrate images, video, and other forms of media content to enhance their corporate communications, executive presentations, marketing collateral and other creative projects.”
Onstream will also offer its customers access to Index’s Image Management and Licensing Service (IMLS). IMLS includes image editing; analog to digital image conversion; digital image archiving; key wording positioning; infringement checking; and custom image set generation.
Through its 1,700-artist network and worldwide range of image sources, Index can generate custom sets of images for specific needs and users. Onstream Media believes the cost of this service is lower than the cost of licensing comparable images on the open market. Index can also distribute images on behalf of Onstream Media customers to more than 80 countries, through its own sales force, its Web sites, and a network of more than 100 distributors.
Randy Selman, president and chief executive officer of Onstream Media, stated, “Our agreement with Index will provide our DMSP customers immediate access to one of the world’s largest source of images for the business consumer. In addition to a library of digital images, Onstream DMSP customers can access Index’s comprehensive service line at discounted rates. The cost of our monthly subscription fee to Index’s full version is less than the cost of two single royalty-free images, enabling us to deliver significant cost savings to our customers. Further, Index offers our DMSP customers the opportunity to distribute their own images throughout Index’s extensive international distribution network, which could potentially create a new revenue stream for our clients.”
Selman concluded, “We continue to strengthen the DMSP platform to meet the diverse needs of our client base as well as create new revenue-generating opportunities for our Company, our partners and our clients.”
About Index Stock
Index Stock Imagery, Inc.™ The Independent Choice For Your Imagination is an award winning and innovative supplier of photographs, illustrations, and digital images. It represents over 1,600 professional photographers and 80 independent still image providers and has agents in 55 foreign countries. It represents dozens of domestic collections and has 1,000,000 images available online, of which 250,000 are Royalty Free images. Index was the first stock agency to begin storing and distributing images electronically. It started scanning its collection in 1992 and launched its first e-commerce site in 1994. The agency million-image library is one of the largest and most complete collections of commercially available images in the world. Its four major Web sites, http://www.indexstock.com, http://www.indexopen.com, http://www.photostogo.com, and http://www.photostogounlimited.com, support emailable lightboxes, e-commerce shopping, prints, posters, postcards, cell phone wallpapers, and customized price grids and high-res comps, for qualified customers in the high end design, Web marketing, small business and consumer marketplaces.
About Onstream Media Corporation
Founded in 1993, Onstream Media ( OTC: ONSM) is a leading online Application Service Provider (ASP) of live and on-demand, rich media communications via the Onstream Digital Media Services Platform. Specializing in audio and video corporate communications, Onstream Media's pioneering ASP digital media services technology provides its customers with the necessary tools for webcasting, web conferencing, managing digital assets, publishing content on the Internet and establishing e-commerce storefronts to transact business online. All of Onstream Media’s services are focused on increasing productivity and revenues, and reducing capital expenditures and operational costs of any organization in an affordable and highly secure environment. As a result, 78% of the Fortune 100 CEOs and CFOs and almost half of the Fortune 1000 companies have used Onstream Media’s services.
Onstream Media customers include: AOL, AAA, AXA Equitable Life Insurance Company, Disney, MGM, Deutsche Bank, Thomson Financial/CCBN, PR Newswire and the U.S. Government.
For more information, visit the Onstream website at http://www.onstreammedia.com or call 954-917-6655.
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Certain statements in this document and elsewhere by Onstream Media are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company, or industry results, to differ materially from those expressed, or implied by the forward looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward looking statements include, but are not limited to, fluctuations in demand; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Internet. Onstream Media undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Onstream Media Corporation’s filings with the Securities and Exchange Commission.