CAMAS, WA–(November 11, 2010) – Abacast, Inc. (www.abacast.com), a provider of online radio monetization and streaming media solutions, announced today the completion of a $500,000 convertible debt financing. Investors include a combination of existing shareholders and new strategic investors. The company will use the funds to expand its engineering and sales teams, accelerate product development, develop additional partnerships, and increase marketing initiatives.

In addition, the company has hired veteran digital media executive Rob Green as its CEO. Mr. Green, a former executive at Nine Systems (acquired by Akamai) and Group Business Development Manager at Microsoft in the Digital Media Division, had been serving as interim CEO and is a member of the Abacast Board of Directors.

“Increasing digital revenue is the number one request we receive from our customers,” said Rob Green, CEO. ”This funding helps us accelerate the release of new revenue generating products and partnerships. Abacast’s digital radio platform stands out as an integrated solution enabling terrestrial and Internet broadcasters to reach huge audiences across many devices and do so profitably. We’re thrilled to have such strong support and look forward to continue rapid growth.”

September 30, 2010

Camas, WA and Southfield, MI – Abacast, a provider of online radio streaming solutions, and jacAPPS, a division of Jacobs Media and one of the world’s largest developers of mobile applications, have partnered to provide Abacast-branded online radio mobile applications for Abacast online radio customers.

The applications, which will be branded as the “Abacast Mobile Player, developed by jacAPPS” will be tightly integrated with the Abacast Radio Streaming Platform and provide multiple features for station revenue generation including rotating panels for multiple sponsorships and integration with the Abacast Ad Insertion System for in-stream audio ads with synchronized banners, pre-roll video ads and display ads.

“After looking at many of the online radio app developers in the market, we chose jacAPPS because of their deep radio domain experience, focus on station revenue generation, and app development expertise,” said Rob Green, interim CEO of Abacast.  “jacAPPS’ state of the art mobile apps will provide our customers with the ability to capitalize on the growth in mobile listenership and provide them a significant revenue stream.”  

“We’re excited to work with Abacast because of their extensive customer base and deep experience in monetization of radio stations,” said Paul Jacobs, Vice President and General Manager at jacAPPS. “Both companies realize that the explosive growth in mobile means not only an increase in audiences but also significant and new revenue opportunities.”

About jacAPPS:
jacAPPS is a division of Jacobs Media, a media research, consulting and applications development company with a special concentration on media and consumer products companies, including National Public Radio, Vh1, Sylvan Learning Centers, CBS Radio, and others.  Since November 2009, jacAPPS has become of one of the world’s largest developers of mobile applications. With over 150 apps for media clients, events, national talent, and other categories, jacAPPS has the capability and experience to develop strategic, customized, and turn-key apps that generate downloads, attention, and buzz.  

About Abacast:
Abacast is an online radio service provider offering one of the most complete, integrated suites of streaming, advertising, and analytics services available from a single vendor. Abacast services drive digital advertising revenue, grow audiences, and deliver top-quality user experiences for the online radio markets. Abacast was founded in 2000 and has successfully served hundreds of customers and tens of millions of consumers.

Although TV stations will receive the lion’s share of ad dollars, SNL Kagan indicates that radio will also benefit as political campaigns tighten TV inventory in the fourth quarter. Radio political ad revenue is expected to reach approximately $560 million.

SNL Kagan Analyst Tony Lenoir notes: “In 2010, we expect that the combination of political unrest, high-profile congressional and gubernatorial races, and the Jan. 21 Supreme Court ruling that struck down certain laws restricting corporate and labor contributions to campaigns will lead to a political ad revenue treasure trove for broadcasters.”

Read the release here:

Camas, WA and Bethesda, MD – Abacast, a mission critical online radio solutions provider and Crystal Media Networks, a leading provider of technology, media, and social networking products to Fortune 500 companies and radio and television broadcast groups, have partnered to provide a comprehensive, fixed-cost software, streaming, social, and analytics solution for Crystal Media Networks’ customers.

“CMN has an excellent Social Suite that integrates a radio station’s stream, website, social strategies, mobile, texting, affinity programs, geo-targeting, contesting, and more,” said Nick Krawczyk, CEO of Crystal Media Networks. “We needed a company that could provide consistently high bit-rate bandwidth and technical streaming services plus an intuitive, easy to use, ad insertion software program. Abacast fit the bill, has delivered excellent service, and represents a company with strong senior leadership.”

“Crystal Media Networks is one of the most successful companies in radio today, and we are thrilled to be providing software and services for them”, said Rob Green, Interim CEO, Abacast “Abacast’s world class ad insertion and streaming solutions will provide Crystal Media Networks’ Social Suite with the resources, service, and support it needs to continue its impressive growth.”

About Crystal Media Networks:
Crystal Media Networks is a progressive, leading network radio and social technology company. CMN develops software and applications that help drive usage to and integration between its clients’ web and social initiatives. For CMN’s media clients, this results in more listeners and viewers and unique revenue generating opportunities across its Social Suite of products.