Record Industry Simulation Game – IMX: Interactive Music Xchange –
Passes X$1 Trillion Mark!!
NEW YORK, NY, October 7, 2003 – Fuse, the nation’s only all-music, viewer-influenced network, may be the owner of the only financial indicator that is booming like it’s 1995, THE IMX INDEX. The network announced today that trading on its web and broadcast television-based music industry simulation game, IMX: Interactive Music Xchange, has surpassed the one trillion dollar mark… in fictional IMX dollars, that is.
“Our mission has always been to provide viewers with a direct voice to determine the music they’ll hear on Fuse,” states Marc Juris, President of Fuse. “To meet this end, we’ve created the only network that’s built on convergence from the bottom up – where the interactivity at our web site drives not only our play list, but the very shape of the programming we deliver.”
“IMX is the ultimate extension of this approach, one that combines everything our young audience truly values – music, interactive games, the web and television – into a singular experience that gets richer each time you participate,” continues Juris. “Even thought its not legal tender per se, reaching the one trillion ‘dollar’ mark is a major milestone, one that proves the stickiness of IMX and the unique appeal of our convergence programming philosophy.”
Launched in late January 2003, IMX: Interactive Music Xchange is a groundbreaking music industry simulation game driven by interactive content at Fuse’s website, www.fuse.tv, and provides updates via a live, one-hour daily show airing at 6 pm ET on the cable network. Participants are empowered to become real-life music executives – invest “IMX dollars” to buy, hold and sell stock in their chosen artists, albums and songs.
The valuation of the artists and their securities fluctuate based on indicators including Billboard charts, radio airplay, Soundscan, concert ticket sales and other real market variables. Players can ultimately redeem their IMX dollars for prizes, from the latest CDs to Sony PlayStations. IMX utilizes the proven interactive technology of the Hollywood Stock Exchange (HSX), a leading interactive gaming technology and research company.
Statistics show that some of the fever from Wall Street’s Day Trading boom may have spread to Fuse’s music- and tech-savvy youngsters.
According to Fuse, the registered players trade an average of 300 million shares, worth up to six billion “IMX dollars” on any given day. The median age of IMX players in 17. Nearly 60% are age 13 – 17; over 90% are between age 13 – 24.
“IMX is like fantasy football, but with rock stars”, adds Michael Goldstein, Fuse’s Vice President of Interactive Programming. “The applications it can embrace are infinitely broad – from broadband and the digital set-top box to wireless devices and e-commerce. It’s a new kind of entertainment experience that is not only captivating our tech-centric young viewers, and also cable operators who are eager to drive the demand for digital set-top boxes and high-speed services.
Fuse is the nation’s only all-music, viewer-influenced television network, featuring music videos, exclusive artist interviews, live concerts and specials — all rooted in the music experience. Fuse reflects the rapidly changing interests and attitudes of its 12-34 year-old audience by uniting the media platforms that are at the center of their communication and entertainment – TV, online, and interactive games – and by incorporating their opinions and suggestions into its on-air and online programming. More information about Fuse is available at www.fuse.tv.
About Rainbow Media Holdings LLC:
A leader in sports, news and entertainment programming, Rainbow Media Holdings LLC is a subsidiary of Cablevision Systems Corporation (NYSE:CVC). Rainbow Media owns and manages national networks: AMC, Fuse, IFC (The Independent Film Channel) and WE: Women’s Entertainment, as well as Mag Rack, a collection of on-demand video magazines. Rainbow Media’s other businesses include its regional programming services – MetroChannels, News 12 Networks and Rainbow Sports Networks – in addition to the Rainbow Advertising Sales Corporation and Rainbow Network Communications. Rainbow Media is also a 50 percent partner in Fox Sports Net.