TIDMOMIP
RNS Number : 1175X
One Media iP Group PLC
18 December 2023
18 December 2023
One Media iP Group Plc
("One Media", the "Group" or the "Company")
Trading update and change of name of broker
Core business of digital music rights management delivering
positively, in line with expectations
One Media iP (AIM: OMIP), the digital media content provider
that specialises in the active monetisation of music and video
intellectual property rights together with copyright protection
technology, provides the following update for the year ended 31
October 2023.
The Group expects to deliver total revenue of circa GBP5.4
million, reflecting a 5% uplift on the year to 31 October 2023 (FY
2022: GBP5.1 million), while net revenues are expected to increase
significantly by approximately 10% to GBP3.6 million (FY 2022:
GBP3.3 million). This positive growth is derived from the continued
strength of the Group's core business of music exploitation,
resulting from the team's deep expertise in proactive music rights
management as well as the positive structural tailwinds
underpinning the music industry.
EBITDA and cash are to reduce in line with expectations to circa
GBP1.4 million (FY 2022: GBP1.8 million) and GBP1.2 million (FY
2022: GBP2.2 million) respectively, as a result of the redirection
of cash resource towards the Group's subsidiary, TCAT Ltd ("TCAT"),
as per the Company's stated strategy.
Michael Infante, CEO of One Media iP said: "These numbers are
very much in line with our expectations, notably the continued
growth of our music rights management business and the strategy
that we set out during the course of this year to reinvest into the
future potential of TCAT, our proprietary anti-piracy software
tool. We look forward to presenting our year end results in full in
due course."
The Group's full year results for the year ended 31 October 2023
are expected to be announced in March 2024.
Change of Name of Broker
The Company also announces that, following the completion of the
all-share merger between Cavendish Securities plc (previously named
Cenkos Securities plc) and Cavendish Financial plc (previously
named finnCap Group plc), and as a consequence of internal
reorganisation within the Cavendish Group, the Company has changed
its Broker from Cavendish Securities plc to Cavendish Capital
Markets Limited.
ENDS
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation. The person who arranged the
release of this information is Michael Infante, Chief Executive
Officer of the Company.
For further information, please contact:
One Media IP Group Plc
Michael Infante Chief Executive
Tel: +44 (0)175 378
5500
Claire Blunt Chairman
Tel: +44 (0)175 378
5501
Cairn Financial Advisers LLP Nominated Adviser
Liam Murray / Jo Turner / Ludovico Tel: +44 (0)20 7213
Lazzaretti 0880
Cavendish Broker
Charlie Coombe /Giles Balleny (Corporate Tel: +44 (0)20 7397
Finance) 8900
Michael Johnson (Sales)
Claire Turvey, Fourth Pillar Financial PR
Tel: +44 (0)7850 548
198
About One Media iP Group Plc
One Media is a digital music rights acquirer, publisher and
distributor with a catalogue independently valued at GBP34.8
million (as at April 2022). The Group specialises in purchasing and
monetising intellectual property rights with proven, repeat income
streams. One Media adds value to its content by maximising its
availability in over 600 digital stores globally, including Apple
Music, YouTube, Amazon and Spotify.
One Media's music is also widely used for synchronisation in
film and TV whilst its video content is primarily viewed on YouTube
where One Media operates over 20 YouTube channels as a certified
partner. Additionally its copyright infringement and digital music
audit tool software TCAT is used by major record labels and the
world leading digital international distributor. Men & Motors,
the Company's branded car channel, is now available via YouTube
www.youtube.com/channel/UCNLiybn_9jgQaV0NZlSRwCg
One Media is listed on the AIM Market of the London Stock
Exchange under the ticker 'OMIP'.
For further information, please visit www.omip.co.uk and
www.harmonyip.com/
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identified by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements reflect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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END
TSTUBROROOUUAUA
(END) Dow Jones Newswires
December 18, 2023 02:00 ET (07:00 GMT)
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