Onstream Media Launches iEncodeT Webcasting Solution--New Product Puts the Power of Visual Webcaster in the Customer's Hands-
POMPANO BEACH, FL – March 13, 2008 – Onstream Media Corporation ( OTC: ONSM), an online service provider of live and on-demand internet video, today announced the launch of iEncode™, a full-featured, turnkey webcasting solution that operates inside a customer's corporate LAN environment. The new iEncodeT webcasting product provides Onstream Media's customers with the flexibility to instantly produce webcasts from within their own network, controlled by their own personnel, and with the power of the wide range of features offered by Onstream Media's proprietary Visual Webcaster platform. Onstream Media will be offering the iEncode™ appliance priced at under $10,000 end user list price. In addition to revenue from initial hardware sales, Onstream Media will derive ongoing revenues from iEncode™ users for per-event fees, storage and bandwidth usage.
iEncode™ possesses all of the powerful features of Onstream Media's Visual Webcaster platform for both multicast (internal) and unicast (Internet) webcasting of live and archived audio and video, including slides (presenter or user controlled), speaker photos, polling, Q&A and indexing. iEncode™ is also fully compatible with Onstream Media's Digital Media Services Platform (DMSP) for archiving, publishing, intelligent indexing and retrieval of the digital webcast files. iEncodeT users will also have use of a powerful online editing tool that allows the operator to edit the completed webcast including the ability to adjust start and stop times (in and out points) removing unwanted slides, URL, or poll pushes, and changing trigger times for all the above. The iEncode™ hardware was also designed to be fully compatible with widely used video conferencing equipment from major companies such as Cisco (Telepresence) and Polycom (VCUs), among others.
After approximately one month of on-site customer testing, the Company expects that sales of iEncode™ will begin and revenues from this new product will be realized during the third fiscal quarter ending June 30, 2008. iEncode™ fills the void between Onstream Media's "white glove" high touch webcasting clients that require significant involvement by the Company's producers and event coordinators and its audio webcasting clients that do not require video and therefore have minimal personnel involvement. The Company believes that many companies with the need to do higher volume video events with less production requirements will find iEncode™ the perfect balance between cost and frequency of usage
"iEncode™ is an important breakthrough for Onstream Media, as well as for customers who desire to have the power of Visual Webcaster in their own hands," said Randy Selman, president and Chief Executive Officer of Onstream Media. "Most important, the standalone aspect of iEncode™ gives us the ability to add thousands of new users for our webcasting services, but without the need for any significant investment in infrastructure or personnel. We expect that iEncode™ will result in a new high margin recurring revenue stream incremental to the existing client base currently using our webcasting services."
About Onstream Media:
Onstream Media Corporation ( OTC: ONSM) is an 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, utilizing Onstream Media's Auction VideoT (patent pending) technology. 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.
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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.