Pacific Internet, WWW.COM Form Venture
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The deal, which will result in a joint venture company based in Singapore, is designed to intensify the proliferation of Internet broadcast services in Asia and boost the popularity of the Internet as an alternative broadcast medium.
The proposed joint venture will provide music Netcasting products and services to Asian Internet and e-commerce companies, Web sites, portals, entertainment outlets, shops and malls. It will initially target the markets in the Asia-Pacific, including Australia and New Zealand, if applicable.
WWW.COM will provide Pacfusion.com with the technological know-how to encode and broadcast music. Pacfusion.com will provide the regional expertise for the joint venture's marketing, business development and advertising sales. The proposed joint venture will establish additional offices in Asia in the near future.
Pacfusion.com and WWW.COM will derive revenue from banner ad sales, audio ads as well as fees earned by co-branding music players for other Asian Web sites. The company expects in the near future to become a reseller of music broadcast services to websites, portals, companies and businesses.
"We aim to be the premium provider of music Netcasting in Asia by leveraging on the strengths of Pacfusion.com's portal and the advanced Netcasting technology of WWW.COM," said Larry Ang, group general manager of Pacfusion.com.