Yahoo Finance Healthy revenue increase for One Media iP as it continues to invest in copyright tool
Listed One Media iP, which specialises in music royalties, has reported positive figures all-round for its first six-month results of 2024.
One Media IP owns the intellectual property rights to songs by artists such as Take That, Gloria Gaynor and Louis Armstrong.
The business has slightly increased its revenue to £2.8m for H1 2024, ending 30 April, which was up from £2.7m for the same period last year.
The majority of that revenue (£2.6m) was generated from intellectual property royalties, “driven by organic growth and expert management of copyrights portfolio”.
The group saw a 14 per cent increase in its earnings before interest, taxes, depreciation, and amortisation (EBITDA) to £0.9m (H1 2023: £0.8m).
Its board stated that this growth was largely driven by management focus on cost efficiencies within its technical copyright analysis tool software business and ongoing performance of its core portfolio of music copyrights.
The technical copyright analysis tool tool is an anti-piracy software that can detect digital copyright infringement.
One Media’s debt decreased to £1.3m, which was down on £1.7m for H1 2023, it was noted that “with continuation of payments in line with refinancing terms reducing Coutts facility”.
However, its cash balance was £0.9m, a drop from its £2.2m for H1 2023.
The group did an experimental launch of a new record label, ‘The Carolean’, back in January, in order to take advantage of the explosion in sales of the vinyl record market, “where a 7.1 per cent compound annual growth rate is projected from 2024-2032”.
Commenting on the results, Michael Infante, CEO said: “One Media’s 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.
“Our 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, technical copyright analysis tool.”
He explained that this strategy “remains under constant review and, as stated previously, we ultimately see technical copyright analysis tool’s future lying outside of the core music group”.
