Somerset Entertainment Income Fund Acquires Puretracks: FAQs

Q: Is Somerset Entertainment Income Fund Purchasing All of the Shares?  A: Yes. Somerset has indirectly purchased 100 percent of Puretracks’ shares.

Q: What Does Somerset Do? A: Somerset is the leading North American producer and distributor of specialty music and DVDs sold internationally through non-traditional music retailers using interactive displays, and a distributor of music in digital format to consumers. Somerset’s extensive distribution network includes mass merchants, specialty chains and independent gift stores in more than 20 countries, including the United States and Canada.

Q: Where is Somerset Based? A: Based in Toronto, Canada, Somerset employs over 180 people at offices in Toronto, Ontario (Canada); Buffalo Grove, Illinois, and Minneapolis, Minnesota (U.S.A.); and Essex, England (U.K.).

Q: Why Did Somerset Acquire Puretracks? A:  Somerset’s digital strategy will be greatly enhanced by the addition of Puretracks. The Puretracks platform is reliable and robust, capable of supporting a wide range of digital music programs. With 3.4 million songs licensed from all four major music labels and several independent companies, Somerset will be able to provide retailers a complete music solution that bridges the physical and digital space.  Somerset’s retail relationships and niche lifestyle music catalogue creates new opportunities for Puretracks to develop private label sites and deploy targeted digital music incentive programs.

Q: What is Somerset’s Strategy? A: With the addition of Puretracks, Somerset becomes a unique player in the music industry with both a niche physical and digital strategy. Puretracks’ carrier-grade technology platform and digital music services expertise will enable Somerset to offer an entirely new suite of programs to their existing customer base.

Q: Where is Puretracks Based?  A: Puretracks, a leading North America digital music provider with full music licensing in both the United States and Canada, is headquartered in Toronto, Canada, and employs over 25 people.

Q: Will Puretracks Continue Business As Usual?  A: Yes.  Puretracks will continue to operate as a separate company under the Somerset Entertainment umbrella.

Q:  Will Puretracks Maintain its Existing Market Strategy? 

A: Absolutely.  Puretracks works as a behind- the-scenes-music partner— helping brands, retailers, labels, telecom companies, and media corporations in the U.S. and Canada to capitalize on the fast-emerging digital music opportunity.  We offer a comprehensive suite of solutions to meet the unique needs our clients – including branded digital entertainment stores, customized promotions, album card redemption platforms, Web services and affiliate programs.   We also offer English, Spanish and French music stores to give businesses the power and flexibility they need to connect with their customers.