TDK Europe Joins With Company for PlayStation Launch This Fall
CALABASAS, Calif.--(BUSINESS WIRE)--April 5, 2000--Sound Source Interactive Inc. (OTC: SSII) today announced that it has signed a new five-year international republishing and distribution agreement with TDK Recording Media Europe S.A., the European subsidiary of the TDK Corp. (NYSE: TDK).
Under the terms of the new agreement, TDK will publish a full range of Sound Source Interactive software and distribute it internationally. Although exact terms of the agreement were not disclosed, the expanded agreement gives TDK the rights to publish and distribute Sound Source titles in all applicable formats, including Sony(TM), Nintendo(TM), Sega(TM), PC CD-ROM and PC DVD formats. The two companies plan a simultaneous Sony PlayStation(TM) launch in North America and Europe this fall.
TDK worldwide generated fiscal 1999 revenues of Y676 billion with a workforce in excess of 29,000 employees. As a major multinational manufacturer and distributor of recording media and electronic components, TDK recording media division commands approximately 17 percent of the worldwide CD-R market, 35 percent of the audio cassette market and 22 percent of the video cassette market.
Its European distribution channels include supermarkets, record/video stores, electronics stores, department stores, duty free stores, kiosks, bookstores and others, representing approximately 50,000 outlets. TDK Europe has recently launched its software business unit, TDK Mediactive, which will include video games and computer software, with a focus on family and children's entertainment and edutainment products, as well as sports and DVD Video music titles.
"This is very exciting news for the company, and it substantiates our licensed content such as 'Casper(TM),' 'The Land Before Time(TM)' and 'Maisy(TM)' on a global scale," commented Vincent Bitetti, chairman and interim CEO of Sound Source Interactive.
"TDK has partnered with us to not only republish and distribute our titles outside of North America, but also to help finance product development on an ongoing basis, providing product flow on many formats for years to come," Bitetti continued. "We are looking forward to entering the console business in fourth-quarter 2000, and will continue to minimize losses from our CD-ROM business in the interim."
In commenting on this expanded relationship, Mr. Shikanai, president of TDK Recording Media Europe, said: "Sound Source has been a valuable partner and a key content provider for our new business venture. The collaborative relationship with Sound Source has grown to include exciting software platforms such as Sony PlayStation and Nintendo Game Boy Color, and we are looking forward to our combined worldwide launch of 'Casper' and 'The Land Before Time' on Sony PlayStation this fall."
Sound Source Interactive is a leading publisher of children's interactive CD-ROM software in the United States. The company is a comprehensive software studio, producing an expanding list of award- winning software products that are based on licensed content derived from popular children's literature, major motion pictures, video franchises and longstanding television series.
The company has exclusive licenses from Universal Studios, Viacom (Paramount Pictures Corp.), Harvey Entertainment Co., 20th Century Fox, New Line Cinema, Sony Signatures and others. Its products are available at major retailers throughout North America, including Sam's Club, Wal-Mart, Target, Costco, Best Buy, Zany Brainy, Toys "R" Us, CompUSA, eToys.com, Smarterkids.com, Beyond.com and other fine retailers.
The company recently announced plans to enter the video game software marketplace for the Sony PlayStation and Nintendo Game Boy formats. Sound Source Interactive has headquarters in Calabasas, and currently trades on the OTC BB under the symbol "SSII."