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One Media iP, the AIM-listed digital music rights acquirer announces interims

#OMIP digital music rights acquisition business One Media iP announced interim results this morning, along with news of their latest music catalogue addition.

CEO Michael Infante was interviewed by London South East and said he was delighted at a steady half year set of results, with operating profit up 30%, revenues up 31% and cash balances of £5M remaining as firepower for further music rights acquisitions as part of the 'buy and build' strategy being rolled out.

He revealed that $2.6M had been invested in the US to acquire 4 music catalogues at an average 7x multiple over the past half year, with $725,000 just spent purchasing a single Christian Rock track by Daniel Bashta.

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