Onstream Media Selected by the Massachusetts Department of Revenue to Provide Digital Content Storage and Streaming Services
POMPANO BEACH, FL – September 25, 2007 – Onstream Media Corporation ( OTC: ONSM), a leading online service provider of live and on-demand digital media, communications and applications, announced today the company has been selected by the Massachusetts Department of Revenue to provide digital media storage and streaming services. Onstream’s services and provisioning will enable the viewing of progressive and on-demand streamed media from media players and codecs including Adobe Flash, Windows Media Player, QuickTime and Real. The term of the contract is for one year and is renewable annually over four subsequent years.
Akamai Technologies, Inc., the leading global service provider for accelerating content and business processes online, will partner with Onstream Media in the provision of the storage and streaming services being delivered on behalf of the Massachusetts Department of Revenue.
Randy Selman, President and Chief Executive Officer of Onstream Media, stated, “Our new relationship with the State of Massachusetts is an important addition to our growing list of state and local government clients. We believe our growing base of government related business is an indication of the positive reception our Digital Media Services Platform (DMSP) is being given by this unique set of clients. We are also pleased this contract was made possible, in part, through our evolving partnership with Akamai, and in particular their Public Sector Group.”
About Onstream Media:
Onstream Media Corporation ( OTC: ONSM) is a leading online service provider of live and on-demand internet video, corporate web communications and content management applications. Onstream Media's pioneering Digital Media Services Platform (DMSP) provides customers with cost effective tools for encoding, managing, indexing, and publishing content via the Internet. The DMSP provides our clients with intelligent delivery and syndication of video advertising, and supports pay-per-view for online video and other rich media assets. The DMSP also provides an efficient workflow for transcoding and publishing user-generated content in combination with social networks and online video classifieds. In addition, Onstream Media provides live and on-demand webcasting, webinars, web and audio conferencing services. In fact, almost half of the Fortune 1000 companies and 78% of the Fortune 100 CEOs and CFOs have used Onstream Media's services.
Select Onstream Media customers include: AOL, AAA, AXA Equitable Life Insurance Company, Bonnier Corporation, Dell, Deutsche Bank, Disney, National Press Club, NHL, MGM, PR Newswire, Rodale, Inc., Televisa, WireOne, Shareholder.com (NASDAQ), and the U.S. Government. Onstream Media's strategic relationships include Akamai, Adobe, eBay, FiveAcross/Cisco and Qwest. For more information, visit Onstream Media at http://www.onstreammedia.com
or call 954-917-6655.
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.