TIDMOMIP
RNS Number : 8558L
One Media iP Group PLC
06 January 2023
6 January 2023
One Media iP Group Plc
("One Media", the "Group" or the "Company")
Trading Update
Core business trading in line with expectations against positive
industry backdrop
One Media iP (AIM: OMIP), the digital media content provider
which 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 2022.
The Group's core business of music exploitation continues to
perform in line with expectations and the Company expects to
deliver revenue of c. GBP5.1 million (reflecting year on year
revenue growth of c. 16%) and EBITDA of c. GBP1.8 million for the
year to 31 October 2022. The outlook for the music industry,
despite wider market challenges, remains on a strong and positive
growth trajectory.
The Group is also pleased to report that its anti-piracy SaaS
subsidiary, TCAT Ltd ("TCAT"), has signed additional industry
contracts and trials for its proprietary software and is continuing
to gain traction internationally with both major and independent
labels. The TCAT business is delivering an important and much
needed service to music rights holders (including One Media) and to
the creative community by providing protection from copyright
infringement and loss of due income through the illegal activities
of others. The Board continues to believe that the TCAT business
presents a significant, scalable opportunity with exciting
potential.
As announced in the Group's half year results on 19 July 2022,
the One Media Board, together with the newly formed TCAT board,
have been exploring independent funding options for TCAT. However,
since that time the One Media Board has undertaken a further
assessment of the strategic position of the TCAT business in
conjunction with its advisors and with the engagement with major
shareholders. This included a consideration of both the external
and internal funding options available, given the strength of the
Group's balance sheet, and concluded that, in its opinion, greater
value can be captured by retaining TCAT within the Group and
supporting TCAT in reaching its next level of growth.
The Group will therefore continue to use its cash resources to
invest into TCAT's operations, as it has done to date, with a view
to benefitting from the medium term value creation potential of the
business. The net cash investment is expected to be up to c. GBP1.4
million in the current financial year (up from c. GBP0.8 million in
FY22) but it is not expected to impact on the Group's dividend
policy.
Michael Infante, CEO of One Media iP commented: "We are pleased
to be on course to deliver results that are in line with
expectations, including double digit revenue growth. The Board's
decision, which was made alongside our major shareholders and
advisors, not to progress with external funding options for TCAT at
this particular time is based on a thorough assessment of its
future potential. Having come through that process and against the
positive trajectory of the industry backdrop, we believe that One
Media has more to gain by investing into the next stage of TCAT's
growth and exploring the strategic options available to realise
value creation further down the line.
"The outlook for the music industry is positive and with
technology advances accelerating the emergence of further
monetisation opportunities, we are well placed to take advantage of
these developments through our deep experience and extensive
network, built up over many years."
The Group's full year results for the year ended 31 October 2022
are expected to be announced in March 2023.
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
Cenkos Securities plc Broker
Max Gould/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
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