GLASTONBURY, CT--(Marketwired - Sep 15, 2014) - CÜR Media (OTCBB: CURM), today announced it has contracted with Zuora, Inc., a leader in subscription billing and mobile commerce, to utilize its Relationship Business Management (RBM) platform to process subscriptions for CÜR Music, CÜR Media's, next generation social music service, which is slated for launch early next year.
Tom Brophy, Founder & CEO of CÜR Media said, "CÜR turned to Zuora for its proven Z-Business solution, which manages the unique business complexities associated with acquiring and growing ongoing customer relationships. Zuora's track record of powering some of the most innovative companies in the world speaks for itself and CÜR is looking to Zuora to support its various subscription offerings with the goal of delivering an excellent consumer experience."
Brian Bell, Chief Marketing Officer of Zuora, said, "It's clear that the music industry is undergoing an evolutionary shift toward streaming music and subscriptions. We're excited to work with CÜR Media as they prepare to launch their second generation music service. We believe our platform, Z-Business, will provide CÜR Media a seamless and customized subscription back end to cultivate long-term customer relationships with their tiered offering."
CÜR Media raised $9.6 million in a private placement offering it conducted in the first quarter of 2014 as part of an alternative public offering. The company is developing CÜR Music (www.curmusic.com), a hybrid music streaming service for mobile devices and the web that blends the best of internet radio services like Pandora with on-demand services like Spotify and Apple's Beats Music. CÜR Media plans to launch its web and mobile applications in early 2015.
CÜR Media began testing its service in early 2012 as "Raditaz," a DMCA compliant internet radio product developed on iPhone and Android platforms. The company is based in Connecticut, and is led by digital media entrepreneur Tom Brophy and entertainment and music industry veterans John A. Lack (creator of MTV, Nickelodeon, ESPN2 and The Movie Channel) and Bob Jamieson (former Chairman/CEO of RCA Records).
For more information, please visit www.curmusic.com.
About CÜR Media
CÜR Media is developing CÜR Music, a hybrid music streaming service, for mobile devices and the web that intersects internet radio services like Pandora and on-demand services like Spotify. The company is planning to launch its web and mobile applications in late 2014 or early 2015.
About Zuora, Inc.
Zuora is the global leader in Relationship Business Management solutions, helping companies in every industry transition to the Subscription Economy. Enterprise leaders and high-growth companies alike use Zuora's multi-tenant cloud platform to launch, scale, and monetize their subscription services. Zuora's applications work where traditional ERP applications fail: Subscription pricing, quoting, orders, billing, payments, and renewals. Built from the ground up by SaaS industry veterans from salesforce.com, PayPal, and Netsuite, Zuora services innovative customers like Informatica, Tata Communications, Box, Xplornet, Ustream and Reed Business Information. To learn more about Zuora, please visit zuora.com.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the development of commercially viable streaming music product, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing, the length of time associated with development of mobile applications and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies.