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RNS Number : 8558L  One Media iP Group PLC  06 January 2023

6 January 2023

 

One Media iP Group Plc

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

 

Trading Update

 

Core business trading in line with expectations against positive industry
backdrop

 

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, provides the following update
for the year ended 31 October 2022.

 

The Group's core business of music exploitation continues to perform in line
with expectations and the Company expects to deliver revenue of c. £5.1
million (reflecting year on year revenue growth of c. 16%) and EBITDA of c.
£1.8 million for the year to 31 October 2022. The outlook for the music
industry, despite wider market challenges, remains on a strong and positive
growth trajectory.

 

The Group is also pleased to report that its anti-piracy SaaS subsidiary, TCAT
Ltd ("TCAT"), has signed additional industry contracts and trials for its
proprietary software and is continuing to gain traction internationally with
both major and independent labels. The TCAT business is delivering an
important and much needed service to music rights holders (including One
Media) and to the creative community by providing protection from copyright
infringement and loss of due income through the illegal activities of others.
The Board continues to believe that the TCAT business presents a significant,
scalable opportunity with exciting potential.

As announced in the Group's half year results on 19 July 2022, the One Media
Board, together with the newly formed TCAT board, have been exploring
independent funding options for TCAT.  However, since that time the One Media
Board has undertaken a further assessment of the strategic position of the
TCAT business in conjunction with its advisors and with the engagement with
major shareholders.  This included a consideration of both the external and
internal funding options available, given the strength of the Group's balance
sheet, and concluded that, in its opinion, greater value can be captured by
retaining TCAT within the Group and supporting TCAT in reaching its next level
of growth.

The Group will therefore continue to use its cash resources to invest into
TCAT's operations, as it has done to date, with a view to benefitting from the
medium term value creation potential of the business. The net cash investment
is expected to be up to c. £1.4 million in the current financial year (up
from c. £0.8 million in FY22) but it is not expected to impact on the Group's
dividend policy.

Michael Infante, CEO of One Media iP commented: "We are pleased to be on
course to deliver results that are in line with expectations, including double
digit revenue growth. The Board's decision, which was made alongside our major
shareholders and advisors, not to progress with external funding options for
TCAT at this particular time is based on a thorough assessment of its future
potential. Having come through that process and against the positive
trajectory of the industry backdrop, we believe that One Media has more to
gain by investing into the next stage of TCAT's growth and exploring the
strategic options available to realise value creation further down the line.

 

"The outlook for the music industry is positive and with technology advances
accelerating the emergence of further monetisation opportunities, we are well
placed to take advantage of these developments through our deep experience and
extensive network, built up over many years."

 

The Group's full year results for the year ended 31 October 2022 are expected
to be announced in March 2023.

 

 

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)    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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