One Media Reports Modest Half-Year Growth Amid Continued Anti-Piracy Tool Development
A live performance from Mungo Jerryâs Ray Dorset, whose group is set to reissue a collection via One Mediaâs Carolean label. Photo Credit: Harald Bischoff
One Media iP Group has revealed its financials for the six months ended April 30th, when net revenue growth was modest amid a focus on the development of proprietary anti-piracy technology. The catalog-focused business, now said to possess the rights to north of 400,000 tracks, reached out today with the half-year financials. Valuable also as an indicator of the wider music IP spaceâs health, the One Media (AIM: OMIP) earnings report points to revenue of $3.49 million (ÂŁ2.76 million), up just under one percent year over year (YoY).
The lionâs share of the sum derived from core IP operations, though One Mediaâs above-highlighted Technical Copyright Analysis Tool (TCAT) contributed $186,786 (ÂŁ147,874) as well, per the performance summary.
And on the expenditures front, distribution charges dipped to ($721,152/ÂŁ570,789), royalty costs were nearly flat at ($287,568/ÂŁ227,609), and other expenses grew by approximately $10,119/ÂŁ8,000 YoY to ($149,017/ÂŁ117,946), the breakdown shows.
All told, the figures made for a roughly one percent YoY increase in net revenue to a total of $2.32 million (ÂŁ1.84 million). Debt, for its part, was paid down from around $2.13 million (ÂŁ1.69 million) to $1.68 million (ÂŁ1.33 million) during the period, The Carolean parent noted.
Additionally, operating profit improved 2.3 percent YoY for the Men & Motors owner, to $442,380 (ÂŁ350,115), against a 10.6 percent YoY spike in profit attributable to shareholders ($231,523/ÂŁ183,235). Lastly, in terms of takeaways from the report, the TCAT anti-piracy technology drew $285,319 (ÂŁ225,811) in development costs on the year, the resource shows.
Focusing on this anti-piracy offering âhas restricted managementâs ability to invest in new catalogues,â with the most recent song-rights deal having wrapped in September of 2023, according to the document. A possible third-party TCAT combination âwith a partner whose sole expertise lies in AI driven music technologyâ could be in the cards, One Media relayed.
Addressing the results, CEO Michael Infante elaborated on the TCAT development focus and its broader significance when it comes to the financials.âOne Mediaâs principal expertise is in managing and investing in music copyrights and this core part of our business continues to perform well and in line with expectations,â communicated Infante, who founded One Media about 19 years ago. âOur capacity to grow our Group profits, however, is somewhat constrained by the continued strategic allocation of resources, including management time, towards establishing and growing our music anti-piracy technology tool, TCAT.
âThis strategy remains under constant review and, as stated previously, we ultimately see TCATâs future lying outside of the core music group. As expected, the delivery of shareholder value continues to be the overriding priority for the management team and Board,â he concluded.
