MORRISTOWN, N.J.--(BUSINESS WIRE)--August 2, 1999--
Audio Book Club, Inc. (AMEX: KLB) announced today that its MediaBay.com media portal and e-commerce site (located at www.mediabay.com) generated over 7 million hits and 430,000 visits during the site's inaugural weekend which coincided with its three day live webcast of Woodstock 99.
Launched on July 23, MediaBay.com offers visitors a single location for the entertainment features of leading content-driven websites and the product selection and service of great commerce-driven sites. The MediaBay.com network of websites includes www.audiobookclub.com, www.audiobook.com, www.radiospirits.com, www.videoyesteryear.com, and www.downloadbay.com.
Commenting on the event, Norton Herrick, Chairman and CEO of Audio Book Club, stated, "We are overwhelmed by the tremendous response we received during MediaBay.com's inaugural weekend and the exposure our involvement in this event has provided through onsite and pay-per-view television advertising. While an estimated 225,000 music fans traveled to Rome, NY for the 30th anniversary of the original Woodstock, hundreds of thousands more chose to take in the sights and sounds of Woodstock 99 from the comfort of their homes, as was evident by the 430,000 plus individuals who logged into our free MediaBay.com webcast via their PC. By hosting this event, we introduced the MediaBay.com site to millions of potential new customers within a 72 hour time span, while generating an invaluable database of email addresses through the webcast registration process which certainly has future revenue potential. We look forward to offering other exciting and cutting edge content over the next several months."
Audio Book Club, Inc. is the world's largest marketer of audiobooks and old-time radio shows through its membership club which markets and sells audiobooks, old-time radio shows and music via the Internet at www.audiobookclub.com and by mail order. MediaBay.com, an affiliate of Audio Book Club, Inc., is the Company's media portal and e-commerce site located at www.mediabay.com. MediaBay.com offers visitors a single location for the entertainment features of leading content-driven websites and the product selection and service of great commerce-driven sites. The MediaBay.com network of websites includes www.audiobookclub.com, www.audiobook.com, www.radiospirits.com, www.videoyesteryear.com, and www.downloadbay.com. Audio Book Club, Inc. is also a publisher of audio and video content including classic radio and video programs and markets and sells that content on audio cassettes, CDs and video cassettes via numerous distribution channels including the Internet at www.radiospirits.com, catalogues, radio shows, retail and other outlets. Since commencing operations in January 1994, Audio Book Club, Inc. has engaged in an aggressive membership recruitment program to establish a core Audio Book Club member base. Following its recent acquisitions of Doubleday's Audiobooks Direct and Columbia House's Audiobook Club, Audio Book Club, Inc. now has a combined membership and customer database of more than 2 million names.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements which are not historical facts contained in this press release are forward looking statements that involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Audio Book Club, Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, the ability of the Audio Book Club, Inc. to successfully integrate the newly acquired businesses into its operations and the uncertainty regarding the actual effect of the acquisitions on the Audio Book Club, Inc. risks relating to the Company's direct mail campaigns and its ability to retain members to its book club, risks relating to the Company's growth strategy, dependence on third party service providers, uncertainty of the scope of future product returns, collection and risks associated with selling products on credit, competition and other risks detailed in the Company's Securities and Exchange Commission filings. The words "believe" and "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statement was made.
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