Industry Market Leader Pro Music Rights, Inc. (OTC: NUVG) Announces Q2 2022 Results with $432,579,903 in Assets with Significant Share Value Increase for Shareholders
Pro Music Rights, Inc. (OTC: NUVG) announced its Q2 2022 financial results, reporting total assets of $432,579,903, up from $323,562,671 at the end of 2021. This marks a quarterly increase of $109,017,232, translating to a book value of $0.12 per share, offering shareholders a notable 128.8% value increase. The company also secured a licensing agreement with TikTok, providing users access to over 2,500,000 musical works. Pro Music Rights holds a 7.4% market share in the U.S. music licensing sector.
- Assets rose to $432,579,903, showing a quarterly increase of $109,017,232.
- Book value increased to $0.12 per share, representing a 128.8% value increase for shareholders.
- Secured a licensing agreement with TikTok for over 2,500,000 musical works.
- Reported a 7.4% market share in the U.S. music licensing industry.
- None.
NAPLES, Fla., Aug. 23, 2022 /PRNewswire/ -- Pro Music Rights, Inc. (OTC: NUVG), one of the world's largest music licensing companies, today announced financial results for its second quarter ended June 30, 2022 with its quarterly report which can be found at EDGAR
Assets increased to
Pro Music Rights currently generates revenue by licensing the musical works in its repertory.
Pro Music Rights granted earlier in the Quarter the well-known video service TikTok a license that will allow its users to create videos which include music from Pro Music Rights' extensive repertoire. The agreement will enable TikTok to offer PMR's more than 2,500,000 works to its users.
Pro Music Rights the 5th public performance rights organization (PRO) ever formed in the United States. Its licensees include notable companies like TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and hundreds of others. Pro Music Rights controls an estimated market share of
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Pro Music Rights, Inc. to accomplish its stated plan of business. Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc. or any other person.
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SOURCE Pro Music Rights, Inc.
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