CybeRelease: (OTC: LYJN) Forms Latin International Division Distributor
(CybeRelease, June 27, 2006) - Lake Harmony, PA - Lyric Jeans, Inc. (OTC PK: LYJN) today announced the formation of its Latin division which will be based in Miami, the heart of the Latin music industry. Lyric Latin will operate as a wholly owned subsidiary of Lyric Jeans, Inc. and expects to achieve licensing deals with all of the major Latin music publishers.
According to the Recording Industry Association of America, shipments of Latin music grew by 14 percent in 2005. The total suggested list price for the industry was $753.7 million. Soundscan reported that sales of Latin music albums in the United States have grown from 27.4 million in 2003 to 35.9 million in 2005. In fact, ’’Latin is the only genre that saw growth in 2005 compared to 2004,’’ according to Leila Cobo, Billboard Latin Bureau chief.
Lyric Jeans is committed to supporting the talented Latin songwriters internationally. The formation of Lyric Latin is the first step in addressing the strong influence of the Latin culture on the music and fashion industries.
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