One Media Reports Modest Half-Year Growth Amid Continued Anti-Piracy Tool Development
A live performance from Mungo Jerryās Ray Dorset, whose group is set to reissue a collection via One Mediaās 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 spaceās health, the One Media (AIM: OMIP) earnings report points to revenue of $3.49 million (Ā£2.76 million), up just under one percent year over year (YoY).
The lionās share of the sum derived from core IP operations, though One Mediaās above-highlighted Technical Copyright Analysis Tool (TCAT) contributed $186,786 (Ā£147,874) as well, per the performance summary.
And on the expenditures front, distribution charges dipped to ($721,152/Ā£570,789), royalty costs were nearly flat at ($287,568/Ā£227,609), and other expenses grew by approximately $10,119/Ā£8,000 YoY to ($149,017/Ā£117,946), 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 (Ā£1.84 million). Debt, for its part, was paid down from around $2.13 million (Ā£1.69 million) to $1.68 million (Ā£1.33 million) during the period, The Carolean parent noted.
Additionally, operating profit improved 2.3 percent YoY for the Men & Motors owner, to $442,380 (Ā£350,115), against a 10.6 percent YoY spike in profit attributable to shareholders ($231,523/Ā£183,235). Lastly, in terms of takeaways from the report, the TCAT anti-piracy technology drew $285,319 (Ā£225,811) in development costs on the year, the resource shows.
Focusing on this anti-piracy offering āhas restricted managementās ability to invest in new catalogues,ā with the most recent song-rights deal having wrapped in September of 2023, according to the document. A possible third-party TCAT combination āwith a partner whose sole expertise lies in AI driven music technologyā 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.āOne Mediaās 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,ā communicated Infante, who founded One Media about 19 years ago. āOur 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.
āThis strategy remains under constant review and, as stated previously, we ultimately see TCATās 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,ā he concluded.
