TORONTO, March 29 /PRNewswire-FirstCall/ -- Gold Entertainment Group, Inc. (Pink Sheets: GEGP). Following yesterday's major press release on the launch of its music label in conjunction with Reggae.com, Gold Entertainment has established a foothold in the burgeoning indie (independent) music label business. The independent record label industry captures 30% of all music sold globally, with the rest from the four majors -- Vivendi's Universal Music, Sony BMG, EMI Group, and Warner Music Group, according to information released at the annual MidemNet music conference in France this past January. The global music market is between $40 to $48 billion, industry reports differ in the exact amount of sales, 30% of that global music market belongs to indie labels or $12 to $16 billion in annual sales. Indie labels now account for more than 900 million units annually. "Yesterday's announcement will be the first of many moves to launch a series of music venues for new and emerging talent, and will be a springboard toward rapid revenue growth," stated Brian Stetten, President and CEO of Gold Entertainment Group, Inc. This does not take into account the digital downloads of single songs, which have exploded over the last few years with the popularity of MP3 players and the Apple iPod. In 2004 Internet sales only accounted for 6% of music sales. Artist signed by a major record label earns approximately $1 per copy sold, whereas an artist signed by an indie record label may earn as much as $5 per copy sold. About Gold Entertainment Gold Entertainment Group, Inc. (Pink Sheets: GEGP) is a broad based entertainment company focusing on the creation and distribution of content for Television, IPTV and the Internet. Gold Entertainment's initial focus is the music entertainment market, specifically showcasing emerging talent. Gold Entertainment seeks to become a leading brand name in the distribution of music entertainment. Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Gold Entertainment disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies. DATASOURCE: Gold Entertainment Group, Inc. CONTACT: Investor, +1-647-477-2215 Web site: http://www.goldentertainment.com/ http://www.reggae.com/

Copyright