To Win in the Digital Media Revolution, Record Companies and Music Publishers Need to Rethink Their Business Models, According to BearingPoint Report

To Win in the Digital Media Revolution, Record Companies and Music Publishers Need to Rethink Their Business Models, According to BearingPoint Report

MCLEAN, Va., March 2 /PRNewswire-FirstCall/ -- BearingPoint, Inc. (NYSE:BE), one of the world's largest business consulting and systems integration firms, today issued a white paper, "Digital Music's Comeback: How Can Record Companies and Music Publishers Seize the Opportunities," which details ways that record companies and music publishers can seize opportunities offered from surging digital music sales and emerging technologies during a new phase in the digital media revolution.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030915/DCM007LOGO )

The paper addresses a fundamental issue: while the promise of digital music seems within reach due to the crackdown on piracy, increased online sales, and the advent of the popular digital music player, music labels and publishers still need to re-think their business models in order to capture new opportunities for market positions and revenues from digital music. New business models, channels, partners, and product offerings dictate that the basic industry fundamentals need to be re-thought in order to meet consumers' evolving needs.

"The digital future is here, but the recording industry will miss a golden era in music if it does not take the right steps today," said Shahid Khan, a Managing Director with BearingPoint. "While there are newly developed tools and technologies that address many business issues, music executives and rights firms must spend time filtering through the morass of service providers and systems to create the right delivery channel."

A copy of the paper can be found at http://www.bearingpoint.com/musicindustrywp.

Khan will also join leading industry experts today to discuss these issues and related topics during the 5th Annual Digital Music Forum panel, "The State of the Digital Union: The Outlook for Online & Mobile Music Markets," at the French Institute Alliance Francaise in New York City.

The session will examine distribution platforms, devices and business models driving online and mobile music markets. The panel will try to answer questions including how record labels, music companies, telephone carriers, and other technology providers will position themselves to take advantage of the booming digital music market.

To speak with Khan about the paper, or the panel, please contact John La Place at 212-896-6213, or john.laplace@bearingpoint.com.

About BearingPoint, Inc.

BearingPoint, Inc. (NYSE:BE) is one of the world's largest business consulting, systems integration and managed services firms serving Global 2000 companies, medium-sized businesses, government agencies and other organizations. We provide business and technology strategy, systems design, architecture, applications implementation, network infrastructure, systems integration and managed services. Our service offerings are designed to help our clients generate revenue, reduce costs and access the information necessary to operate their business on a timely basis. Based in McLean, Va., BearingPoint has been named by Fortune as one of America's Most Admired Companies in the computer and data services sector. For more information, visit the Company's website at http://www.bearingpoint.com/.

This press release may contain forward-looking statements, the accuracy of which is necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-Q. We undertake no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030915/DCM007LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com Source: BearingPoint, Inc.

CONTACT: John La Place of BearingPoint, Inc., +1-212-896-6213, or john.laplace@bearingpoint.com

Web site: http://www.bearingpoint.com/

------- Profile: Ent