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MP3.Com Q-1 Revenues Increase 24 Percent Over Last Year

MP3.com today reported net revenues totaling $21.8 million for the first quarter ended March 31, 2001, an increase of more than 24 percent compared with $17.5 million for the first quarter last year. The company’s revenues were down slightly from Q-4 2000, which were reported to be $22.0 million.

Michael Robertson, MP3.com chairman and chief executive officer says, “This quarter we further strengthened our leadership position in the digital music space with an increasingly robust infrastructure and technology platform and the appropriate licenses from publishers and record labels.”

MP3.com also enjoyed growth in the number of registered users-now totaling more than 14.5 million individuals. During the first quarter, average daily visitor traffic grew to 845,000 compared with 575,000 for the same period a year earlier, and an increase of 95,000 visitors over the 750,000 reported during the fourth quarter 2000. Estimated page views delivered during the first quarter were 495 million, compared with 393 million for the first quarter 2000 and 476 million for the fourth quarter in 2000. Additionally, an average of more than 280 new artists posted their music to MP3.com every day throughout the first quarter 2001.

Already this year, the company has launched its Music Licensing Program, which matches digital content from artists and composers on the site with producers, directors, advertising agencies, and music supervisors actively looking to license music for traditional or multimedia productions. And just this month, the company introduced Japan.mp3.com, a joint venture with the Being Group/BMF, one of Japan’s biggest record companies.

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