Last checked at 1 Sep 2023 07:00
1 September 2023
One Media iP Group Plc
("One Media", the "Group" or the "Company")
One Media renews its distribution deal with a US$1 million advance
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, has renewed its partnership with its music distribution company (the "Distributor").
The new agreement includes a US$1 million recoupable advance (the "Advance") to One Media and will be drawn down by the Company immediately. The Advance will be used to enhance catalogue enrichment.
The Advance is recoupable by the Distributor against future sales by the Company. In the event that the requisite income is not met, the Distributor has the right, at its sole option, to accelerate recoupment of the outstanding amount.
The Distributor aggregates One Media's content to over 202 territories globally, including to the major Digital Service Providers (DSP) such as Spotify, Apple Music and Amazon Music, Tidal and Deezer and is responsible for collecting monies in a variety of currencies globally for the Company. They perform a crucial role in the monetisation of the rights in One Media's portfolio.
Michael Infante, CEO of One Media said: "Having worked with The Orchard since 2006, we have an excellent understanding of its market leading distribution service. Ensuring that our music is widely accessible to fans on digital platforms is critical to growing streaming numbers, which translate into revenues for One Media."
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 Lazzaretti
| Tel: +44 (0)20 7213 0880
|
|
|
Cenkos Securities plc | Broker |
Max Gould/Giles Balleny (Corporate Finance) Michael Johnson (Sales)
| Tel: +44 (0)20 7397 8900 |
| |
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 £34.8 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.