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Onstream Media Launches Live Mobile Video Streaming Service for iPhone and BlackBerry

New Service Enables Direct Live Streaming of Concerts, News, Sports, Corporate Communications and Other Video Based Content to Smart Phones

POMPANO BEACH, FL – February 23, 2010 - Onstream Media Corporation ( OTC: ONSM), a leading online service provider of live and on-demand internet video, corporate web communications and content management applications, today announced the official launch of its high quality, live mobile video streaming service enabled for iPhone and BlackBerry users.

Onstream Media Corporation ( OTC: ONSM), a leading online service provider of live and on-demand internet video, corporate web communications and content management applications, today announced the official launch of its high quality, live mobile video streaming service enabled for iPhone and BlackBerry users.

The new mobile video streaming service was developed with Onstream Media's leading Digital Media Services Platform (DMSP) technology which services clients in the Global 2000, Media and Entertainment, and Business-to-Business community. The service is device agnostic, enabling adaptive and segmented streaming to popular mobile devices using Akamai's Content Delivery Network. Onstream Media's new mobile video streaming service, along with their digital subscription storefront, was recently implemented by Ocean20 Technologies Group LLC, a customer that specializes in wireless applications and systems architecture. The service enables subscribers to receive live and/or on-demand mobile wireless-based video including concerts and other live entertainment on their mobile "smartphones" including Blackberries and iPhones. Ocean20 recently webcast the rock band Creed live and will soon provide live mobile wireless streaming for additional rock groups, directly to these smart phones.

"Going with Onstream Media was a logical decision for us," said Joseph McGowan of Ocean20 Technologies Group, LLC. "Not only is Onstream Media a proven, high quality and reliable service provider of video streaming live and on-demand events for the Media and Entertainment industry, but they also have great, cost-effective and easy-to-use solutions to help monetize our online business, including integrated pay-per-view, subscription and ad streaming technology. Onstream Media enables our customers to expand their audience for streaming rock concerts beyond PCs to hundreds of thousands of smartphones."

"There's no denying that mobile computing represents tremendous potential to engage and interact with an incredibly vast, global population of users," said Randy Selman, President and CEO of Onstream Media. "Onstream Media prides itself on our innovative and entrepreneurial spirit which continues to drive new advancements to help our clients attract, interact and grow an online community of loyal followers - all without large technology investments, IT know-how or costly resources."

Onstream's live mobile video streaming service automatically monitors incoming video signals before and during a live stream and automatically detects the type of video to insure best possible results. In addition, Onstream's mobile video streaming service is integrated with the Akamai Content Delivery Network to deliver video in all the popular formats including Adobe Flash, H.264, VP6 and Windows Media/VC-1. The solution also leverages Akamai's HD Network which enables content providers to deliver more HD content than previously possible due to its globally-distributed EdgePlatform of more than 50,000 servers, wide-scale distribution in 70 countries and increased throughputs in more than 900 networks.

About Ocean20 Technologies Group, LLC:

Ocean20 Technologies Group, LLC is an information technology consulting and development firm that focuses on mobile and wireless architecture services with offices located in New York and London. Ocean20 has worked for firms located around the world in financial services, publishing and entertainment industries. From B2C smartphone applications to live rock concert video production and streaming to mobile strategy and architecture services, Ocean20 helps customers to monetize mobility. Ocean20's wireless experts apply modern, lean development approaches and architecture best practices to get mobile solutions to market quickly and efficiently.

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, streaming video, mobile streaming 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: AAA, Bonnier Corporation, Dell, Disney, Georgetown University, National Press Club, PR Newswire, Shareholder.com (NASDAQ), Sony Pictures and the U.S. Government. Onstream Media's strategic relationships include Akamai, Adobe, BT Conferencing, eBay and Qwest. For more information, visit Onstream Media at http://www.onstreammedia.com or call 954-917-6655.

Onstream Media:
Chris Faust
FastLane Communications

Investor Relations:
Brett Maas
Hayden IR

Cautionary Note Regarding Forward Looking Statements

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.