RealNetworks Names Philip W. O'Neil SVP Of Music
Former Vivendi Universal Executive to Extend Rhapsody's Digital Music Leadership; Dan Sheeran to Lead Corporate Partnerships and Business Development
SEATTLE — February 26, 2007 — RealNetworks®, Inc. (NASDAQ: RNWK), the leading creator of digital media software and services, today announced that it has named Philip W. O'Neil senior vice president in charge of Real's music business, and that long-time Real executive Dan Sheeran, will assume a new role as SVP, corporate partnerships and business development.
"Phil O'Neil has a proven track record of excellence in executive leadership across a range of consumer businesses," said Rob Glaser, chairman and CEO of Real. "Phil and the team will do a great job of building on the considerable momentum of our acclaimed Rhapsody 4.0 and Rhapsody.com products, and partnerships with industry leaders."
Most recently, O'Neil was chief operating officer for Vivendi Universal Games where he had P&L responsibility for that $700 million business in North America and Europe, with direct accountability for sales, business development, marketing and finance. In that capacity he helped lead revenue and profit growth for the company, and drove sales strategies behind "World of Warcraft," the most successful online subscription game. Mr. O'Neil has a 25 year record of achievement in a variety of premier multinational consumer goods and entertainment companies, including The Gallo Winery, Fresh Express Farms and PepsiCo.
"The digital music business is at an important stage of growth that is predicated upon the industry's ability to enhance the consumer experience, and I think Real is ideally positioned to deliver music in all the ways that consumers want to listen," said O'Neil. "The Rhapsody music service is well ahead of the curve in terms of providing consumers a better listening experience by providing unlimited access to millions of songs—wherever and when ever consumers want them, and I'm confident in our team's ability to extend that leadership position."
O'Neil will succeed Dan Sheeran, who is moving into a new role of SVP, corporate partnerships and business development, reporting directly to Rob Glaser. "Under Dan's leadership over the past two years, Real put together deep and pioneering relationships with industry leaders such as SanDisk, Best Buy, TiVo, Nokia and iriver," Glaser added. "With nearly six years at Real under his belt, Dan possesses a broad range of expertise that will be leveraged across our businesses in his new role."
"Major products and distribution partnerships have enabled Real to grow our music business substantially over the past two years," said Sheeran. "I look forward to now driving such partnerships for both our music business and our other business units."
RealNetworks pioneered the unlimited access music service model, and currently leads the market for music subscription services with more than 2.55 million subscribers for Rhapsody and its other premium music services. Since launching in 2001, Rhapsody has received multiple industry awards and honors. In 2006, Rhapsody earned Billboard's Digital Entertainment Media and Marketing Excellence award for the Best Downloadable or Subscription Music Service, Entertainment Weekly named Rhapsody one of its "25 Best Music Websites," and PC World honored Rhapsody with a 2006 World Class Award in its annual list of "100 Best Products."
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RealNetworks, Inc. is the leading creator of digital media services and software including Rhapsody®, RealPlayer®, RealPlayer® 10, and casual PC and mobile games. Broadcasters, network operators, media companies and enterprises use RealNetworks' products and services to create and deliver digital media to PCs, mobile phones and consumer electronics devices. Consumers can access and experience audio/video programming and download RealNetworks' consumer software at http://www.real.com. RealNetworks' systems and corporate information is located at http://www.realnetworks.com.
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