CEDAR KNOLLS, NJ - December 6, 2001 - MediaBay, Inc. (Nasdaq: MBAY), the leading seller of spoken audio and nostalgia products, including audiobooks and old-time radio shows, through direct response, retail and Internet channels, today announced that it will be offering on its MediaBay.com web site a wide selection of best-selling eBooks from leading publishers through its relationship with OverDrive and OverDrive's Content Reserve system.
The relationship between MediaBay and OverDrive will add several thousand eBooks to the tens of thousands of downloadable audio titles already available to customers of MediaBay and its affiliate websites (www.mediabay.com, www.audiobookclub.com, and www.radiospirits.com). OverDrive provides a secure B2B digital content marketplace for publishers and retailers from its Content Reserve system. eBooks from leading publishers such as McGraw-Hill, Time Warner Publishing, Taylor & Francis and others will be available to MediaBay customers for immediate download in both the Microsoft Reader and Adobe Acrobat eBook Reader formats.
"We believe eBooks are the perfect complement to our vast selection of downloadable spoken audio content," said Michael Herrick, CEO of MediaBay, Inc. "Our customers are avid readers as well as audio listeners. Over time, we expect that eBooks will represent a meaningful source of revenue and profits for MediaBay."
"OverDrive is pleased to be working with MediaBay to enable its millions of website visitors and customers the ability to securely download best selling eBook titles from our Content Reserve system," said OverDrive CEO Steve Potash.
Steve McLaughlin, President and Chief Technology Officer of MediaBay.com said, "By partnering with OverDrive, we will be able to very quickly integrate a large selection of eBooks seamlessly into the MediaBay.com experience. This will give our customers a "one-stop shop" for both eBooks and downloadable spoken audio."
About MediaBay, Inc.
MediaBay, Inc. is a leading marketer and seller of spoken audio and nostalgia products, including audiobooks and old-time radio shows, in hard goods and digital download formats via direct response, retail and Internet channels. The Company markets and sells its products to its customer database of over 2.55 million names, its email address database of over 2.2 million addresses and its more than 2.0 million unique monthly website visitors. The Company is one of the world's largest marketers of audiobooks through its Audio Book Club membership club, which markets and sells tens of thousands of audiobook titles to its 1.95 million-member file through direct mail and the Internet at www.audiobookclub.com. The Company is also one of the world's largest marketers of old-time radio shows and classic videos through its Radio Spirits subsidiary which markets and sells its content library of over 60,000 radio shows and 3,500 videos on audio cassette, compact disc, video cassette and DVD through direct mail to its more than 600,000 catalog customers, in over 7,000 retail outlets, on its nationwide traditional radio broadcasts and through the Internet at www.Radiospirits.com. The Company's media download portal site, www.MediaBay.com, offers the Company's millions of customers and website visitors a single location for premium spoken word content available in streaming and secure digital download formats. The Company's RadioClassics subsidiary has been created to distribute the Company's old-time radio programs through additional platforms including satellite radio, satellite television and digital cable television.
About OverDrive, Inc.
OverDrive (www.overdrive.com) developed Content Reserve as an extension of OverDrive's end-to-end solutions for enabling publishers and retailers to manage the growth of the ePublishing marketplace and as a result of its 15 years in digital publishing technology. OverDrive is a Principal Member of the Open eBook Forum (OeBF) and a proud sponsor of the 2001 Frankfurt eBook Award (FeBA). With world headquarters in Cleveland, Ohio OverDrive has offices in Amsterdam and operates an eBook Technology Center in Montego Bay, Jamaica. OverDrive is a strategic partner for eBook technology for Microsoft Corporation (Nasdaq:MSFT) and Adobe Systems (Nasdaq:ADBE).