GoodNoise, Xing Team Up to Promote Emerging Digital Recording Standard
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Internet record company GoodNoise Corp. and Xing Technology Corp., a provider of MPEG audio and video software, have formed a strategic alliance to promote the MP3 (MPEG1 Layer3) standard.
Under the terms of the agreement, GoodNoise and Xing will conduct joint marketing activities aimed at advancing the growing market for downloadable audio recordings based on MP3 technology.
MP3 is a standards-based technology for compressing audio files. As part of the collaboration, Xing will feature GoodNoise artists and broadcast the GoodNoise Internet radio station on the Xing Web site. In addition, GoodNoise will license Xing's new MP3 Encoder to encode sound recording data files for commercial distribution.
Financial terms of the agreement were not disclosed.
"Xing has already emerged as a key player in the MP3 movement. GoodNoise and Xing share a common vision of the potential of downloadable recordings--specifically based on the MP3 standard," said Gene Hoffman, president and CEO, GoodNoise. "Through our alliance with Xing, we will focus on educating consumers, artists and the music industry about the benefits of MP3 and its potential for re-shaping the way music is sold and distributed. GoodNoise will also benefit from the use of Xing's advanced encoding technology."