Former eNow executive Peter Csathy has been named president of
subscription-based digital music play MusicMatch at a time when the company’s
operations has turned cash-flow positive.
MusicMatch, which markets a Jukebox software that allows the recording of
digital music in addition to a fee-based streaming music product, said
Csathy joins as president and COO to concentrate primarily on business
development, sales, legal and finance activities.
The company, which competes directly with the big record labels in the
streaming media space, said Csathy’s appointment is part of its plan to
strengthen a media strategy to push subscriptions for its software and
streaming music services and advertising sales.
“MusicMatch attained cash-flow positive status through a combination of a
constant focus on the needs of music lovers, strong and diversified
revenue-generating activities and innovative streaming delivery processes to
strategically maximize operating efficiencies. Obtaining revenue from music
subscriptions, software sales and advertising, MusicMatch has developed a
successful business model while providing music lovers with award-winning
music software and services,” the company said in a statement.
“Becoming cash-flow positive is an enormous landmark event for us,” CEO
Dennis Mudd said, arguing that the company is well positioned to capitalize
on growing popularity of the streaming media sector.
The hiring of Csathy, a former executive of eNow, appears to fit into
MusicMatch’s plans to bump its subscription base. As chief operating officer
of eNow, Csathy was credited with the overall operations and execution of
the subscription-based, real-time content aggregation and distribution.
Before that, Csathy was a senior VP at Universal Studios, where he was
responsible for negotiating international and domestic new business
opportunities, strategic initiatives, corporate partnerships, acquisitions
and joint ventures for the Recreation Group.
MusicMatch said its Radio MX service has signed up more than 120,000
subscribers since its launch a year ago. The fee-based service, which lets
listeners personalize playlists and promises to eliminate advertising,
interruptions or buffering, costs $4.95 per month, or $49.99 per year.
The five-year-old company, which maintains headquarters in San Diego,
Calif., said it has registered more than 25 million users of its Jukebox
software program, which lets users play rip, burn and organize music files
in a single program.
MusicMatch recently launched a Jukebox for Mac users and a distribution partnership with Microsoft .
