October 17, 2008
CMJ Network Inc. Engages Paid, Inc. To Develop Web Community and Launch Exclusive Merchandise Line
CMJ Network Inc. ("CMJ") has contracted with Paid, Inc.'s (OTCBB: PAYD) celebrity services department to invigorate and broaden the scope of its online presence, including development of a web community that will, among many other elements, establish an interactive communication channel with the highly desirable and trend-influencing college student market to provide market research data for CMJ's broad client base. Paid will also exclusively manage CMJ's new merchandising line through online channels, live events and tours across the USA.
CMJ has been a key player in the music industry for over 25 years, discovering and supporting new artists from myriad contemporary genres through its online, print and live event assets as well as tracking weekly new artist airplay on more than 500 college and non-commercial radio stations across North America. CMJ charts run regularly in publications such as Rolling Stone and Entertainment Weekly, identifying the top emerging acts that will develop into the next multi-Platinum artists. By building this web community and integrating a broad range of members-only online services, Paid will provide CMJ a greater range of services to offer its clients including record labels, musical artists and their respective constituencies.
"We've engaged Paid to develop an interactive community that will expand upon the reach and presence CMJ already has among our college radio stations, business clients and fan communities nationwide," said Bobby Haber, CMJ CEO. "Paid will facilitate one-to-one and one-to-many dialogues that will enable us to gather additional, invaluable insight into the college and emerging music markets. We believe this will translate into new revenue streams for CMJ and Paid as brands and marketers engage us for market research that will enable them to better know their target audience and more accurately focus their marketing efforts to them."
"Our strategic alliance will enable CMJ to broaden its interaction and dialogue with college students from coast to coast, generating critical feedback and market research data signaling future trends and purchasing habits," said Keith Garde, president of Paid, Inc., celebrity services. "By reaching out to this broad, influential market segment to gather and manage data from them, we believe it will give CMJ, its clients and Paid's clients a competitive edge."
Paid will expand CMJ's online presence by utilizing social media and delivering an ever-changing array of applications to this web community, enabling innovative content and multiple opportunities for interaction.
CMJ Music Marathon & Film Festival
Paid's first project for CMJ is the launch of its exclusive new merchandising line that will debut at CMJ Music Marathon & Film Festival, October 21-25. Music Marathon is New York's largest and most important music event, featuring five days and nights of performances by over 1,000 emergent acts in 65 venues throughout the city with live music showcases, film premieres, parties and special events, all complemented with more than 70 music, media and technology-centric panels. Official CMJ merchandise items will be available at shop.cmj.com and at the CMJ merchandise booth at the following New York City locations:
Booth #15 in the CMJ Exhibition Hall, 10th Floor at NYU's Kimmel Center, 60 Washington Square South Tuesday, Oct. 21 9 a.m. - 7 p.m. Wednesday, Oct. 22 9 a.m. - 6 p.m. Thursday, Oct. 23 9 a.m. - 2 p.m. Judson Memorial Church, Event Registration Lobby 55 Washington Square South Friday, Oct. 24 7:30 a.m. - 6 p.m. Saturday, Oct. 25 9 a.m. - 3 p.m.
In the future, Paid also will be coordinating VIP fan experience packages for CMJ Marathon as well as for other events nationwide. VIP packages are expected to include unique experiential opportunities such as meet & greets with band members, photo opps, pre-concert parties, early entry passes, autographed or exclusive merchandise, and more.
About CMJ Network Inc.
CMJ Network connects music fans and music industry professionals with the best in new music through interactive media, live events and print. CMJ.com offers a digital music discovery service, information resources, and community to new music fans, professionals, and artists. CMJ Events produces the legendary CMJ Music Marathon, the largest and longest-running music event of its kind, in addition to live events and tours across the USA. The weekly music business trade magazine CMJ New Music Report is the primary source for exclusive charts of non-commercial and college radio airplay and independent and trend-forward retail sales. CMJ New Music Monthly, the first consumer magazine to include a bound-in CD sampler, is the leading publication for the emerging music enthusiast. CMJ Access is an integrated marketing agency specializing in providing its clients unparalleled access to the college and young adult demographic and emerging music world. Log on to www.cmj.com for more information about all of CMJ's products and services.
About Paid, Inc.:
Paid, Inc. operates a diversified set of businesses, including its celebrity services and AuctionInc ecommerce technology businesses. Paid, Inc.'s celebrity services provides celebrities and organizations with official Web sites and fan club services that include e-commerce storefronts, ticketing and fan experience packages and web site content to attract tens of thousands of visitors daily. Using proprietary patented technology, Paid's innovative AuctionInc brand shipping calculation and auction management software and services are utilized to streamline online auctions, ecommerce and web site development and hosting. The Company also sponsors autograph signing events and other sports marketing services for sports clientele. The Company's common stock is traded on the OTC Bulletin Board under the symbol PAYD.
Forward Looking Statements:
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, profitability, business development efforts, and expectations about celebrity programs and fan club activities, technologies, and services. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-QSB with the Securities and Exchange Commission.