Under the terms of the agreement, Amazon.com will be heavily integrated throughout the Broadcast.com Web site, allowing users to purchase music or books after viewing Broadcast.com's programming.
Amazon.com will also advertise its book and music retail services through a variety of Broadcast.com's interactive multimedia Web advertising services. Some of these services include multimedia and traditional banner ads; audio and video gateway ads that run before and during programming, and an array of button and text links.
Financial terms were not disclosed.
Amazon also today announced a similar deal with Hoover's Online, a provider of company information on the Web, to be its exclusive bookseller.
Under the terms of the agreement, Amazon will receive promotional placements on the Hoover's Online homepage, on 13,500 Hoover's Company Capsules, on Hoover's IPO Central and in the Hoover's Online store.
Hoover's will also promote book-buying opportunities through Amazon on selected editorial features, including Hoover's Company of the Day, Spotlight Stock and weekly book reviews written by Hoover's editorial team.
Hoover's provides high-quality, engagingly written and useful information about more than 13,500 of the world's largest, fastest-growing, and most influential public and private enterprises.
Microsoft's "premier music merchant" with prominent placement on the software giant's MSN site as the company tries to build its MSN shopping channel and MSN.com portal page. Cobranded deals are increasingly of strategic importance as competition heats up on the Net.
Shares of Amazon slipped 2.96 percent or 5.69 points to 186.31, and have traded as high as 233.13 and as low as 24.81 during the past 52 weeks. Broadcast.com stock also slipped 6.06 percent or 4 points to 62, and has hit a high of 79 and a low of 32.75 in the past 52 weeks.
Both the companies' stocks are following the overall downward movement of the market today in which Internet stocks are especially getting a severe beating.
"Broadcast.com is a Web destination rich in audio and video content," Ram Shriram, Amazon.com's vice president of business development, said in a statement. "Adding the opportunity to buy is a natural extension; we are pleased to make it easy for book and music fans to immediately purchase the books and music they love."
Broadcast.com's audience has access to a vast selection of music programming, including more than 2,400 full-length CDs, hundreds of live and on-demand concerts, interviews, chats, and special events. Broadcast.com partners with record labels including Capitol Records and more than 370 radio stations and networks to provide live and on-demand programming to music fans 24 hours per day, seven days per week.
"Our relationship with Amazon.com enhances the Broadcast.com experience by enabling our users to purchase books and music related to their listening or viewing selections," Todd Wagner, chief executive officer of Broadcast.com, said in a statement.
Broadcast.com, formerly Audio Net, provides the Webcast technology for many Internet sites. The company helped several news sites deliver video of President Clinton's grand jury testimony which helped boost traffic in September.