One Media iP (AIM:OMIP), the digital media content provider which exploits intellectual digital property rights around music, video and copyright technology, announces its Full Year Results for the 12-month period ended 31 October 2020.
· Revenue increased 14% to £4.0 million (2019: £3.5 million)
· EBITDA increased 38% to £1.49 million (2019: £1.07 million)
· Operating profit increased 16% to £1.02 million (2019: £0.88 million)
· Cash at 31 October 2020 of £6.8 million (2019: £0.9 million)
· Cash placing of £6 million in August 2020
· Final dividend declared of 0.055p per share
Operational and Post-Period Highlights
- Formation of TCAT Limited subsidiary and recruitment of the team; part of TCAT’s next phase of development to become a leading anti-piracy service
- Acquisition of Take That producer royalties including 'A Million Love Songs', 'Could It Be Magic' and 'I Found Heaven'
- Launch of new Men & Motors TV channel, hosted by Boyzone’s Shane Lynch and One Second in F1 Racing’s Torie Campbell
- Acquisition of the licensor’s share of the royalties to the 21 Vision catalogue of rights, which contains over 2,000 recordings including Glenn Millar, The Andrews Sisters, The Ink Spots, Vera Lynn, Count Basie, Flanagan & Allen and Cole Porter
Michael Infante, CEO of One Media iP, commented:
“I am pleased to report another successful year of growth for the Company. The year under review could have been a most unpredictable and turbulent time for any small business operating under COVID-19, but even in the midst of challenges our music business model saw its EBITDA grow by 38%.
“Separating TCAT (www.tcat.media) from the core business underpins our two activities. Primarily, the core business of the Group, being the continuation of content exploitation within our genres, offers a bespoke ‘antipiracy detection’ service not only to ourselves, but also the music industry at large. TCAT, we believe, can become a major player to both record labels and artists alike, whose content is exploited in over 167 territories globally within the 130 million-music tracks traded daily on digital stores.
“As 2021 progresses, and further to our successful fundraise of £6 million, Harmony iP www.harmonyip.com is being offered as an alternative method of allowing copyright holders to partially cash-out and partner with One Media, taking a share in the asset income and giving TCAT care to the content now under joint ownership. This both enhances the contents’ future earning ability and gives the original owner an opportunity to participate in the growth of future earnings of their life’s work. Working in unison for the first time, with both author and label, sees a joint mission of ensuring transparency in the future values of content. I remain excited for the future and, as always, grateful for the experienced team of directors, staff, consultants and professionals within across the Group whom have contributed to our continued success.”