SpikeRadio Now Just Spike, Inc.

Spike Internet Radio, originally launched as a 24-hour live Web radio station targeting the 16-30 year-old indie music crowd, repositioned itself today as a full-service, streaming media production company, boldly entering the business-to-business client services sector.

To reflect the change in business direction, the company officially changed its name to Spike, Inc. and split its operations into four units: Music Services, Web casting, Convergent Media Production, and its flagship youth music site www.spike.com (formerly www.spikeradio.com), scheduled to re-launch at the end of September.

"As a pioneer in the 24-hour live Internet radio space, Spike has a demonstrated ability in the creation of a leading streaming media platform with highly targeted music programming," said Lawrence Maltz, CEO of Spike and former COO of Starbucks Coffee, in a statement. "We are taking the logical next step in offering a wider range of technically driven services in high growth areas with excellent profit potential."

As an example of the retooled business approach, Los Angeles-based Spike announced a project, in conjunction with Nike, to provide a 24-hour Internet radio station at nike.com/2000, featuring music and interviews with Olympic athletes to coincide with the Games in Australia.

The Web radio channel, dubbed Radio Free Sydney, is designed, produced and powered by Spike in a uniquely branded environment for Nike, said Spike.

"[The Nike deal] firmly positions Spike as a leading business-to-business provider of original streaming media content," said Maltz. "The power of music online and streaming media is indeed demonstrated when Nike [launches] a truly global Internet radio station."

As part of the Nike deal, Spike also announced a licensing agreement with the Recording Industry Association of America (RIAA) to create customized Internet radio stations for clients with copyright protections.

Under the terms of the RIAA agreement, Spike will pay artists and labels royalties on performances of copyrighted music streamed throughout its clients sites and its own youth-focused Internet radio station. OnAir.com (formerly WWW.com) announced a similar agreement with the RIAA reached earlier this year.

In addition, both Spike and OnAir have signed licensing agreements with the perfomance rights organizations ASCAP and BMI to protect the rights of its members for the public performances of their copyrighted works.