Charles Schwab & Co., Inc.

Internet Daily for Thursday, May 17, 2001
by Frank Barnako CBS MarketWatch.com

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Napster readies member service test

Napster is looking for a few good downloaders. "Be the first to
preview the new membership service," says an announcement posted
Thursday on its Web site. A form for submitting an e-mail address
is provided, but there are no details about what the service will
offer and how it may work. Napster's partners previously said a
subscription music service, to be priced between $5.95 and $9.95
a month, would be launched in July. Plans for setting up a
subscription-based business model emerged after a federal judge
ordered Napster to remove music protected by copyrights from its
innovative file-sharing service.

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MusicNet goes public today

The Internet subscription music  service that RealNetworks and
several major music labels are backing gets its first public
demonstration Thursday at a congressional hearing on Capitol
Hill. Rob Glaser, chairman of the Seattle-based software company,
will show off MusicNet to members of a House Judiciary
subcommittee that oversees intellectual property. "The hearing is
intended to educate members about the availability of music
online and the obstacles to offering digital music for sale on
the Internet," said Rep. Howard Coble, R-N.C., the panel's
chairman, in a letter to lawmakers. RealNetworks is providing the
technology for MusicNet, a venture in which Bertelsmann AG, AOL
Time Warner, and EMI Group have interests. On the Web, the
MusicNet site promises a taste of things to come in the form of a
"free trial offer in our partners' subscription service" that
will be made available soon.

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Vegas seen ready to roll online dice

There has apparently been a change of heart by owners of several
major casinos in Las Vegas. Originally opposed to legalized
Internet gambling, executives of Harrah's Entertainment and MGM
Mirage are now prepared to oppose reintroduction of federal
legislation that would ban Web gaming, according to a New York
Times report. Some politicians and industry analysts say the
casinos believe there is no way Web gambling can be prohibited,
and thus believe they would be better served by supporting its
regulation and entering the business themselves, the report said.
Sen. Jon Kyl, R-Ariz., is sponsoring the anti-Web gaming
legislation. The window of opportunity to pass the bill "may have
closed," he told the newspaper.

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