NetRadio Corp., an online distributor of originally programmed audio entertainment through its web site www.netradio.com, and BestBuy.com have agreed to a co-branding arrangement for NetRadio to provide custom audio entertainment programming to BestBuy.com, a wholly owned Internet subsidiary of Best Buy Co. Inc. Under terms of the agreement, NetRadio will provide BestBuy.com with a co-branded player that will include 20 originally programmed NetRadio channels for use on BestBuy's web site. In addition, BestBuy.com will program, and NetRadio will host, two custom radio channels to leverage marketing and content from Best Buy enterprise initiatives. BestBuy.com will pay NetRadio for their streaming media services, and will purchase and control all the advertising on the channels that will run on the co-branded player. This advertising will be used to communicate special offers from the Best Buy enterprise to targeted consumers. The co-branded player is scheduled to debut in early spring.
"NetRadio's agreement with Best Buy is part of our B2B strategy of increasing sales by forging multiple co-branded player agreements," said Eric Paulson, chairman, CEO and president, NetRadio Corp. "We will continue to grow our b2b business by providing this service to other leading companies."
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