Universal Music Group and Buzznet Announce Alliance

    LOS ANGELES, April 17 /PRNewswire/ -- Universal Music Group (UMG), the
 world's leading music company, has made an equity investment in Buzznet
 (http://www.buzznet.com), one of the Web's fastest growing social media
 networks. The announcement was made today by Doug Morris, Chairman and
 Chief Executive Officer of UMG, and Tyler Goldman, Chief Executive Officer
 of Buzznet. The terms and conditions of the transaction were not disclosed.
 
     This partnership marks one of the first times that a music company will
 be directly involved in developing editorial programming for a social media
 site, with both companies sharing in the revenue. Music and videos from the
 world's most extensive digital catalog of chart-topping artists will be
 uniquely interwoven into Buzznet's daily editorial, as well as thousands of
 blog posts allowing for users to comment, share and draw on the content to
 create their own personal experience.
 
     In addition, artists will lend their voices as guest bloggers on the
 site and will deliver exclusive news to their fans that will not be found
 anywhere else on the web. Buzznet's unique social media platform currently
 empowers its more than 10 million active music fans with the stage to
 create and program communities around the artists they love. Users express
 themselves, connect with friends and socialize around the topics they are
 passionate about, sharing millions of blog posts, photos and videos every
 day.
 
     "We are always striving to push boundaries and expand the scope of our
 digital activities," stated Mr. Morris. "And our partnership with Buzznet
 fits perfectly into that strategy. Tyler and his team have built a dynamic
 and legitimate social destination that provides fans and sponsors an
 all-encompassing musical experience."
 
     "Universal is dedicated to offering music fans the very best in
 personalization and our new partnership with Buzznet is a perfect way to
 continue these efforts," commented Rio Caraeff, Executive Vice President of
 eLabs, UMG. "Buzznet offers an elegant and excellent platform to showcase
 the high quality and depth of UMG's extensive musical catalog."
 
     "Buzznet's top priority has always been the fans and making sure we're
 creating an unrivaled destination for them," remarked Mr. Goldman. "With
 our social media tools we were able to grow an engaged community of music
 fans to exciting levels. Now working in collaboration with UMG, we will be
 able to integrate audio, video and original content into Buzznet's music
 communities to give them the ultimate music experience."
 
     About Universal Music Group
 
     Universal Music Group is the world's largest music company with wholly
 owned record operations or licensees in 77 countries. Its business also
 includes Universal Music Publishing Group, the world's leading publishing
 company.
 
     Its record labels include Decca, Deutsche Grammophon, Interscope Geffen
 A&M Records, Island Def Jam Music Group, Lost Highway Records, Machete
 Music, MCA Nashville, Mercury Nashville, Mercury Records, Philips, Polydor
 Records, Universal Music Latino, Universal Motown Republic Group, Universal
 Records South and Verve Music Group, as well as a multitude of record
 labels owned or distributed by its record company subsidiaries around the
 world. The Universal Music Group owns the most extensive catalog of music
 in the industry, which is marketed through two distinct divisions,
 Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing
 (outside the U.S.). Universal Music Group also includes eLabs, a new media
 and technologies division, Bravado, its merchandising company, and
 Twenty-First Artists, its full service management division.
 
     Universal Music Group is a unit of Vivendi, a global media and
 communications company.
 
     About Buzznet
 
     Buzznet's unique social media platform empowers millions of music fans
 with the stage to create the most in-depth socially programmed music
 experiences around the artists they love. Users express themselves, connect
 with friends and socialize around the topics they are passionate about,
 sharing millions of photos, videos and blog posts every day. The site is
 also home for communities created by top bands and social trendsetters, and
 has established itself as the premier destination for music and pop
 culture. For more information visit http://www.buzznet.com.
 
 

      For More Information Please Contact:
 
      Peter LoFrumento
      Universal Music Group
      212-331-2585
      peter.lofrumento@umusic.com
 
      Charlene Fitzgibbon
      SutherlandGold Group for Buzznet
      310-403-5589
      charlene@sutherlandgold.com
 
 

SOURCE Universal Music Group