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Destiny Media Technologies, Inc. (TSX.V: DSY; OTCQX: DSNY), headquartered in Vancouver, BC, Canada, was founded in 1991 as a video game developer. Since then, the company has evolved into a leading provider of secure digital content distribution solutions, specializing in audio and video streaming and secure file distribution worldwide. Destiny operates two main product lines, MPE® and Clipstream®. MPE® facilitates the secure distribution of digital content, including audio, video, images, and metadata, akin to owning a physical media copy. On the other hand, Clipstream® enables secure content streaming for temporary viewing or listening, eliminating the need for special players or servers. Destiny holds patents for secure distribution and watermarking, with additional patents in the pipeline for further innovation.
Destiny Media Technologies (DSNY) reported financial results for fiscal year 2024, showing a 9.6% revenue growth to $4.42 million. The growth was driven by increases in Major Label revenue (8.8%) and Independent Record Label revenue (10.0%). Net income decreased to $111,758 from $335,098 in 2023, while adjusted EBITDA was $577,284 compared to $687,463 in the prior period. The company invested $1.1 million in new software capabilities and focused on expanding its development and sales teams to accelerate feature implementation and market penetration.
Destiny Media Technologies (OTCQB: DSNY), creator of Play MPE®, a cloud-based SaaS solution for promotional music marketing, has scheduled its fiscal 2024 year-end earnings release and webinar for Thursday, November 21, 2024. The financial results will be released before market open, followed by a live webinar at 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time). The webinar will feature visual presentations and allow attendees to submit questions. Participants can join via web registration or dial-in, though dial-in users won't have access to video or Q&A functions.
Destiny Media Technologies (OTCQB: DSNY) announced a new integration between its Play MPE music promotion distribution platform and MTR (Music Tracking Radar). The integration enables automatic tracking of songs uploaded to Play MPE through MTR, marking the first step in a new ecosystem launching in 2025.
MTR currently tracks airplay at over 5,000 stations in North America. The integration aims to streamline music distribution and tracking services, simplify subscription management, and reduce barriers to customer acquisition. Future enhancements will consolidate reporting across both platforms, encouraging cross-platform usage and improving efficiency for artists and labels.
Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), creators of Play MPE®, has announced a significant update to its music promotion distribution platform. The company has introduced self-service account creation for record labels and independent artists, allowing users to easily explore Play MPE's ecosystem. This update is part of a series of platform enhancements planned through 2025.
The new feature aims to remove barriers to entry for independent artists, simplifying the onboarding and release creation process. This improvement is expected to expand the platform's reach into new markets, encourage larger marketing purchases, and facilitate broader music exposure. The goal is to help more artists connect with industry curators, broadcasters, and other key players, potentially increasing radio airplay and media exposure.
Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), the maker of Play MPE®, announced financial results for Q3 fiscal 2024 ended May 31, 2024. Highlights include:
- Revenue of $1.2M, up 8.2% year-over-year
- Global independent record label growth of 11.9%
- Net income of $0.13M
- Adjusted EBITDA of $0.22M
The company reported sustained revenue growth averaging 9.1% over the past year. During Q3, Destiny Media repurchased 149,900 shares for $0.16 million under a normal course issuer bid (NCIB). The NCIB ceased on May 2, 2024, and has not been renewed.
Destiny Media Technologies (TSXV: DSY, OTCQB: DSNY) announced a live webinar for its fiscal 2024 third-quarter financial results. The webinar will take place on July 15, 2024, at 2:00 p.m. PST (5:00 p.m. EST). Financial results will be released before market open on the same day. Attendees can register and submit questions during the event. The webinar will feature a visual presentation, with dial-in options available for audio-only access. A recording will be accessible post-event on the company's investor relations page.
Destiny Media Technologies (TSXV: DSY, OTCQB: DSNY) has launched its airplay tracking service, MTR™, in the United States. Following a successful beta launch in Canada, MTR™ aims to provide affordable and comprehensive airplay data for individual songs across a wide range of US radio stations, including major urban and smaller rural stations. The service is designed to meet the needs of smaller, unserved customers and offers real-time reporting. Key features include extensive coverage, competitive pricing, and scalability. MTR™ is poised to revolutionize the music industry with accessible, detailed tracking solutions.
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