REG - One Media iP Group - Trading Update and Change of Name of Broker

One Media IPAnnouncement

18/12/2023 07:00

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RNS Number : 1175X  One Media iP Group PLC  18 December 2023

18 December 2023

 

One Media iP Group Plc

("One Media", the "Group" or the "Company")

 

Trading update and change of name of broker

 

Core business of digital music rights management delivering positively, in
line with expectations

 

One Media iP (AIM: OMIP), the digital media content provider that specialises
in the active monetisation of music and video intellectual property rights
together with copyright protection technology, provides the following update
for the year ended 31 October 2023.

 

The Group expects to deliver total revenue of circa £5.4 million, reflecting
a 5% uplift on the year to 31 October 2023 (FY 2022: £5.1 million), while net
revenues are expected to increase significantly by approximately 10% to £3.6
million (FY 2022: £3.3 million). This positive growth is derived from the
continued strength of the Group's core business of music exploitation,
resulting from the team's deep expertise in proactive music rights management
as well as the positive structural tailwinds underpinning the music industry.

 

EBITDA and cash are to reduce in line with expectations to circa £1.4 million
(FY 2022: £1.8 million) and £1.2 million (FY 2022: £2.2 million)
respectively, as a result of the redirection of cash resource towards the
Group's subsidiary, TCAT Ltd ("TCAT"), as per  the Company's stated strategy.

 

Michael Infante, CEO of One Media iP said: "These numbers are very much in
line with our expectations, notably the continued growth of our music rights
management business and the strategy that we set out during the course of this
year to reinvest into the future potential of TCAT, our proprietary
anti-piracy software tool. We look forward to presenting our year end results
in full in due course."

 

The Group's full year results for the year ended 31 October 2023 are expected
to be announced in March 2024.

 

Change of Name of Broker

 

The Company also announces that, following the completion of the all-share
merger between Cavendish Securities plc (previously named Cenkos Securities
plc) and Cavendish Financial plc (previously named finnCap Group plc), and as
a consequence of internal reorganisation within the Cavendish Group, the
Company has changed its Broker from Cavendish Securities plc to Cavendish
Capital Markets Limited.

 

 

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

 Cavendish                                          Broker
 Charlie Coombe /Giles Balleny (Corporate Finance)  Tel: +44 (0)20 7397 8900

 Michael Johnson (Sales)

 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
(https://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 (http://www.omip.co.uk)
 and www.harmonyip.com/ (http://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.

 

 

 

 

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