POMPANO BEACH, FL – April 16, 2007 – Onstream Media Corporation ( OTC: ONSM), a leading online service provider of live and on-demand, digital media communications and applications, announced today that it has been chosen by Adobe Systems Incorporated (Nasdaq: ADBE) as one of only five members of its newly created Adobe® Flash Media Solution Provider (FMSP) program. The FMSP program was developed by Adobe to create a closer relationship with leading service providers, like Onstream Media, that recognize the important role Flash encoding and streaming has in delivering robust video content for both live and on-demand environments. Together, Adobe, Onstream and other members of the program will work together to serve customers and accelerate the pace of Flash streaming adoption in key vertical markets. Under this program, Adobe shall provide key sales, marketing, development and support that will help drive incremental Flash streaming business benefiting both Adobe and the FMSP partners. Onstream Media is one of a hand picked set of service providers who specialize in developing and deploying live and on-demand webcast and web video solutions for their clients in the commercial, education and government sectors. As part of the program, Adobe will recognize Onstream as an endorsed Flash Media Solution Provider for Adobe’s internal direct, channel and named account sales force and an approved reference for pre-qualified sales leads. As such, Adobe will provide indirect and direct sales referrals to Onstream for digital media services/solutions such as Flash encoding and live and on-demand Flash streaming. Randy Selman, President and Chief Executive Officer of Onstream Media, stated, "It is a tremendous honor to be chosen by Adobe as one of a very select few companies to participate in its new Flash Media Solution Provider program. Long ago we recognized the importance of adding Flash Media streaming as an integral component of both our VisualWebcaster and DMSP platforms. We look forward to working even more closely with Adobe in expanding the user base for Flash Media and enhancing the experience of customers and end-users alike.” In conjunction with the launch of its FMSP program, Adobe has also launched a new partner section on its Flash Media Server (FMS) product pages which features a description of Onstream Media along with the company logo and a hot link URL that takes prospective customers directly to the Onstream Media website. Adobe will also list Onstream Media as an authorized FMSP participant on various FMSP related marketing collateral material and at FMSP related tradeshows and roadshows. Additionally, Onstream Media will be featured in various Adobe sales education materials and live presentations that outline FMSP service partners as a key ingredient in the overall FMS partner ecosystem. About Onstream Media: Onstream Media Corporation is a leading online service provider of live and on-demand internet video, corporate web communications and content management applications. Onstream Media's pioneering Digital Media Services Platform (DMSP) provides customers with cost effective tools for encoding, managing, indexing, and publishing content on the Internet. The DMSP provides our clients with intelligent delivery and syndication of video advertising, and supports pay-per-view for online video and other rich media assets. The DMSP also provides an efficient workflow for transcoding and publishing user-generated content in combination with social networks and online video classifieds. Onstream Media also provides live and on-demand webcasting, webinars, web and audio conferencing services. Almost half of the Fortune 1000 companies and 78% of the Fortune 100 CEOs and CFOs have used Onstream Media's services. Onstream Media customers include: AOL, AAA, AXA Equitable Life Insurance Company, Dell, Disney, MGM, Deutsche Bank, Rodale, Inc., Televisa, Thomson Financial/CCBN, PR Newswire and the U.S. Government. For more information, visit Onstream Media at http://www.onstreammedia.com or call 954-917-6655. At the Company: Certain statements in this document and elsewhere by Onstream Media are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward- looking statements include, but are not limited to, fluctuations in demand; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Internet. Onstream Media undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Onstream Media Corporation's filings with the Securities and Exchange Commission. |