One Media Regulatory News (OMIP)

ONE MEDIA IP GROUP PLC - Trading Update

PR Newswire

London, February 5

5 February 2016

One Media iP Group Plc("One Media" or "the Group" or "the Company")

Trading Update

The board of directors of One Media announces that based on its preliminary assessment of the unaudited consolidated management accounts of the Company and its subsidiaries (the “Group”) for the year ended 31st October 2015 (the “Year”), the results for the Year are expected to record a decline of approximately 13% in turnover and 30% in profits before taxation as compared to the corresponding period last year. This is primarily due to unfavourable currency exchange rates and the shift from the consumer digital downloading model to the streaming model.

The Group remains profitable, comfortably cash resourced and will continue its investment program in line with the changing market.

Michael Infante, Chairman and CEO commented:

"Our full audited accounts will be released on Monday 7th March. I have previously commented on the shift in consumer habits and the turbulent time that our industry faces. Digital stores are realigning their content offering in line with the consumer demographic that they are pursuing. 

This turbulent time will effect our entire industry while the consumer adopts their preferred route to music consumption.

It is our belief that as emerging digital markets mature, such as China, India and Russia, new consumers for the Groups content via the subscription model will provide growth. One Media is reactive enough to meet these changes and is taking all steps to get ahead of the digital curve".

For further information, please contact:

Notes to Editors:

Based at Pinewood Studios, One Media is an intellectual property (iP) owner and controller of rights within the digital arena concerning music, video and digital distribution. The consumer led but B2B (Business-to-business) operation looks to exploit its catalogue of over 250,000+ music tracks and over 10,000 hours of video by recompiling the content for sale through over 600 digital music and video stores groups worldwide.

The Company has a team of Creative Technicians, all of whom are YouTube certified, who digitise the content, create the metadata, re-compile and prepare the digital music & video releases using bespoke in-house developed software.

Additionally, One Media makes its library of content available for TV shows, movies, adverts and websites requiring background music. One Media focuses on music performed by well-known artists from every genre, including; pop, rock, reggae, R&B, children's music, karaoke, jazz, soul, blues, rap, hip-hop, gospel, world-music, plus stand-up comedy, spoken-word.

In July 2014 the Group acquired for a consideration of USD$1.6m the Point Classics classical music library bringing the number to over 10,000 classical tracks now available to the Group for exploitation.

One Media is eligible for Enterprise Investment Schemes ("EIS") and Venture Capital Trusts ("VCT").