MUS Ls -1x Mu

RNS Number:7609E
Music Choice Europe PLC
6 June 2001


Music Choice Europe plc
("Music Choice" or "the Company")

AGM Statement

6 June 2001

                                
At  the Company's first Annual General Meeting since flotation in
October  2000,  to be held later today, Music Choice's  Chairman,
Mike  Thomas,  will  issue  the  following  statement  concerning
current trading.

"I  am pleased to report that since the year end the Company  has
continued  to  make  satisfactory progress against  each  of  its
strategic business objectives.

*   The   interactive   TV  application  has  been   successfully
    launched in the UK to Sky Digital's 5 million homes. Over  30
    advertisers  have  come on board, and  we  have  recruited  a
    Media  Sales  Director  to drive forward  these  new  revenue
    streams.

*   With  the  launch  in  Spain on Canal Satelite  Digital,  the
    Music Choice subscriber base has increased by 1.2 million  to
    over  10  million European homes, double the 5 million  homes
    achieved  by  flotation  last September.  This  is  ahead  of
    expectations on flotation.

*   There  has  been a continuing flow of additional launches  in
    Norway, Sweden and Israel.

*   At  the  time  of  flotation the Company  did  not  forecast
    material  revenues  from the internet or  mobile  telephony.
    Therefore, the Company's results and immediate prospects are
    unlikely to be affected by any delays in the development and
    market  acceptance of these technologies.  In addition,  the
    projections at the time of the flotation did not build in new
    digital TV launches, such as Spain."

Simon Bazalgette, Chief Executive, added:

"Since  we  announced our preliminary results  on  8  March,  the
Company has made excellent progress:

*   On  20 March we launched our interactive TV service to  all
    Sky Digital subscribers.  At the same time, we commenced a pilot
    advertising trial on our new interactive channels with partners,
    including  leading  brands  such  Dreamworks,  Colgate,  Virgin
    Records, Paramount and Swiss Air.

*   On  18  April  we  acquired iCrunch, a leading  source  for
    exclusive digital downloads.  iCrunch allows us to create a one-
    stop solution for fixed line and wireless broadband providers by
    adding   properly  licensed  digital  downloads  and  exclusive
    editorial content to its current service.  It also gives  us  a
    library of over 6,000 tracks and strategic alliances with some of
    the most creative and successful independent music labels.  The
    half year results will show a good will write off of #1.2 million
    in connection with this acquisition.

*   On  30  April  we  announced an alliance with  the  largest
    digital  satellite TV operator in the Spanish market through  a
    broadcasting  agreement  with  Canal  Satelite  Digital.   This
    alliance brought us 1 million new subscribers.

*   And  finally,  on  18 May, we launched our  interactive  TV
    service on the com hem digital TV platform in Sweden.

"We  have  also  significantly strengthened our operational  team

with the following appointments:

*   Simon  Bell has joined as Director of Brand Marketing  from
    BBC  and  Unilever.  His remit is to roll-out the Music  Choice
    brand across Europe and the Middle East.

*   Dominic  Trigg  was  appointed  Director  of  Media  Sales.
    Previously he was with Microsoft as Advertising Director of MSN.

*   Deborah McCallum joined us from Sony, where she was  Senior
    Vice President of International Markets for Sony Classical.  Her
    appointment at Music Choice is as Genre Manager for our classical
    channels.

"We  continue  to  make  good progress  with  the  "impulse  buy"
function,  where  listeners will be able to purchase  CDs  direct
from the channel.  We are targeting the launch of a pilot service
by the end of the year, or early next year.

"The  Board remains confident that the Company will achieve  cash
break-even in 2003, as we have previously indicated.  We  believe
that  progress  since  the flotation in  October  2000  has  been
strong,  and the company is well-positioned, not only to  deliver
on  the  interactive TV business which underpinned the  Company's
flotation   valuation,  but  also  to  take  advantage   of   new
opportunities in on-line music services over the coming periods."



For further information, please contact:

Music Choice Europe plc                             020 7534 4700
Simon Bazalgette, Chief Executive
Margot Daly, Chief Operating Officer

Square Mile BSMG Worldwide                          020 7601 1000
Tim Jackaman/ Louise Robson

Note to Editors

Music Choice, the premier audio broadcaster, provides subscribers
with  an  unequalled selection of digital-quality music delivered
via  cable/satellite TV, the Internet and soon mobile  platforms.
Its  impressive library contains over 45,000 albums  representing
more  than  500,000 tracks. The 47 genre-specific non-stop  music
channels  cover all tastes from unsigned bands, Hits,  Arabe  and
Dance  Underground through to Alternative Rock, Jazz  and  Opera.
More than just a source of music, over 200 monthly Special Events
-  niche oriented music programmes - are broadcast across a range
of channels.

Music  Choice  was  launched in 1993 as a joint  venture  between
Warner,  Sony  and Motorola, with BSkyB becoming an  investor  in
1998. It was listed on the London Stock Exchange in October 2000.
The  service  is  available in 18 countries and with  10  million
homes  has  potentially  over 23.5 million  listeners  throughout
Europe and the Middle East.

To     find    out    more    about    Music    Choice     visit:
http://www.musicchoice.co.uk.

Grafico Azioni Ls -1x Mu (LSE:MUS)
Storico
Da Dic 2024 a Gen 2025

Grafico Azioni Ls -1x Mu (LSE:MUS)
Storico
Da Gen 2024 a Gen 2025