| | Business Summary | | TouchTunes
Music
Corporation
is
involved
in
the
digital
distribution
of
music
content
to
music-on-demand
applications.
The
first
such
music-on-demand
application
developed
by
the
Company
is
its
digital
jukebox
(Digital
Jukebox).
The
Company
has
become
a
provider
of
Digital
Jukeboxes
in
the
United
States
and
a
digital
distributor
of
music
content,
downloading
approximately
80,000
songs
per
month.
The
Company
is
actively
developing
new
music-on-demand
products
and
applications
as
part
of
its
strategy
to
leverage
its
existing
technology,
music
content
and
strategic
relationships.
The
Digital
Jukebox
combines,
in
a
single
unit,
computer
systems,
telecommunication
peripherals
and
multimedia
hardware.
The
Digital
Jukebox
employs
a
low-maintenance
computer
system,
capable
of
storing
and
reproducing,
in
digital
format,
any
music
selection
at
its
original
level
of
quality.
All
music
files
are
protected
from
unauthorized
usage
by
using
Multi-Media
Protocol
(MMP)
encryption
(128
bit)
algorithm. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | TouchTunes
Music
Corp.
developed
a
digital
jukebox
which
utilizes
digital
audio
transfer
technology
to
distribute
music
titles
through
a
proprietary
distribution
network.
For
the
six
months
ended
6/30/01,
revenues
rose
31%
to
$10
million.
Net
loss
applicable
to
Common
rose
16%
to
$6.3
million.
Revenues
reflect
an
increased
number
of
jukeboxes
in
the
Digital
Jukebox
network.
Higher
loss
reflects
increased
provisions
for
doubtful
accounts
for
discontinued
inventory. | | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Tony Mastronardi, 41
Chairman,
CEO | $162K | Francois Plamondon, 43
Pres,
COO | 338K | Chris Marcolefas, 34
CFO,
VP of Bus. Devel. | -- | Guy Nathan, 57
Sr.
VP, Sec., | 187K | John Margold, 49
VP
of Sales | 152K | | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/t/ttmc.ob.gif)