MUSIC LICENSING, INC. (OTC: SONG) REPORTS FISCAL YEAR 2024 FINANCIAL RESULTS AND FILES FORM 1-K WITH THE SEC
Music Licensing Inc (OTC: SONG) has reported its fiscal year 2024 financial results, showing significant declines across key metrics. Revenue decreased to $128.9 million from $1.05 billion in 2023, while the company recorded a net loss of $54.4 million compared to a net income of $46.0 million in 2023.
The company's financial position weakened with total assets falling to $19.9 million from $62.3 million, while total liabilities increased to $23.7 million from $12.7 million. Shareholders' equity turned negative at $(3.8) million, down from $49.6 million in 2023.
The revenue decline is attributed to a strategic pivot focusing on acquiring and trading royalty-generating intellectual property stakes. The company has identified acquisition targets valued between $36-250 million in royalty-generating IP assets for 2025, including investments in Listerine Mouthwash Antiseptic royalties and music catalog publishing rights.
Music Licensing Inc (OTC: SONG) ha riportato i risultati finanziari per l'anno fiscale 2024, mostrando significativi cali in metriche chiave. Il fatturato è diminuito a 128,9 milioni di dollari da 1,05 miliardi nel 2023, mentre l'azienda ha registrato una perdita netta di 54,4 milioni di dollari rispetto a un reddito netto di 46,0 milioni nel 2023.
La posizione finanziaria dell'azienda è peggiorata, con attività totali che sono scese a 19,9 milioni di dollari da 62,3 milioni, mentre passività totali sono aumentate a 23,7 milioni da 12,7 milioni. Il patrimonio netto degli azionisti è diventato negativo a $(3,8) milioni, in calo rispetto a 49,6 milioni nel 2023.
Il calo del fatturato è attribuito a una pivot strategico focalizzato sull'acquisizione e il commercio di partecipazioni in proprietà intellettuali generatrici di royalty. L'azienda ha identificato obiettivi di acquisizione valutati tra 36 e 250 milioni di dollari in beni IP generatori di royalty per il 2025, inclusi investimenti nei diritti di royalty di Listerine Mouthwash Antiseptic e nei diritti di pubblicazione di cataloghi musicali.
Music Licensing Inc (OTC: SONG) ha reportado sus resultados financieros para el año fiscal 2024, mostrando caídas significativas en métricas clave. Los ingresos disminuyeron a 128,9 millones de dólares desde 1,05 mil millones en 2023, mientras que la compañía registró una pérdida neta de 54,4 millones en comparación con un ingreso neto de 46,0 millones en 2023.
La posición financiera de la compañía se debilitó, con activos totales cayendo a 19,9 millones de dólares desde 62,3 millones, mientras que pasivos totales aumentaron a 23,7 millones desde 12,7 millones. El patrimonio de los accionistas se volvió negativo en $(3,8) millones, bajando de 49,6 millones en 2023.
La disminución de ingresos se atribuye a un cambio estratégico enfocado en adquirir e intercambiar participaciones en propiedad intelectual generadoras de regalías. La compañía ha identificado objetivos de adquisición valorados entre 36 y 250 millones de dólares en activos de IP generadores de regalías para 2025, incluidos inversiones en regalías de Listerine Mouthwash Antiseptic y derechos de publicación de catálogos musicales.
뮤직 라이센싱 Inc (OTC: SONG)이 2024 회계연도 재무 결과를 보고했으며, 주요 지표에서 상당한 감소를 보였습니다. 수익은 2023년 10억 5천만 달러에서 1억 2천890만 달러로 감소했으며, 회사는 2023년 4천600만 달러의 순이익에 비해 순손실 5천440만 달러를 기록했습니다.
회사의 재무 상태는 총 자산이 6천230만 달러에서 1천990만 달러로 감소함에 따라 약화되었고, 총 부채는 1천270만 달러에서 2천370만 달러로 증가했습니다. 주주 자본은 2023년 4천960만 달러에서 $(380만) 달러로 부정적으로 전환되었습니다.
수익 감소는 로열티 생성 지적 재산권 지분을 인수하고 거래하는 데 중점을 둔 전략적 전환에 기인합니다. 회사는 2025년을 위해 로열티 생성 IP 자산에 대해 3천600만에서 2억5천만 달러로 평가된 인수 목표를 식별했으며, 여기에는 리스테린 구강 세척제 항균제 로열티 및 음악 카탈로그 출판권에 대한 투자가 포함됩니다.
Music Licensing Inc (OTC: SONG) a publié ses résultats financiers pour l'exercice 2024, montrant des baisses significatives dans des indicateurs clés. Le chiffre d'affaires a diminué à 128,9 millions de dollars contre 1,05 milliard en 2023, tandis que l'entreprise a enregistré une perte nette de 54,4 millions de dollars par rapport à un bénéfice net de 46,0 millions en 2023.
La situation financière de l'entreprise s'est détériorée, avec des actifs totaux tombant à 19,9 millions de dollars contre 62,3 millions, tandis que les passifs totaux ont augmenté à 23,7 millions de dollars contre 12,7 millions. Les capitaux propres des actionnaires sont devenus négatifs à $(3,8) millions, en baisse par rapport à 49,6 millions en 2023.
La baisse des revenus est attribuée à un pivot stratégique axé sur l'acquisition et l'échange de participations dans des droits de propriété intellectuelle générant des redevances. L'entreprise a identifié des cibles d'acquisition évaluées entre 36 et 250 millions de dollars dans des actifs de PI générant des redevances pour 2025, y compris des investissements dans les redevances de Listerine Mouthwash Antiseptic et les droits de publication de catalogues musicaux.
Music Licensing Inc (OTC: SONG) hat seine finanziellen Ergebnisse für das Geschäftsjahr 2024 veröffentlicht, die erhebliche Rückgänge bei wichtigen Kennzahlen zeigen. Der Umsatz fiel auf 128,9 Millionen Dollar von 1,05 Milliarden im Jahr 2023, während das Unternehmen einen Nettoverlust von 54,4 Millionen Dollar im Vergleich zu einem Nettogewinn von 46,0 Millionen Dollar im Jahr 2023 verzeichnete.
Die finanzielle Lage des Unternehmens verschlechterte sich, da die Gesamtvermögen auf 19,9 Millionen Dollar von 62,3 Millionen Dollar sanken, während die Gesamtverbindlichkeiten auf 23,7 Millionen Dollar von 12,7 Millionen Dollar anstiegen. Das Eigenkapital der Aktionäre wurde negativ und fiel auf $(3,8) Millionen Dollar, nachdem es 2023 bei 49,6 Millionen Dollar lag.
Der Rückgang des Umsatzes wird auf eine strategische Neuausrichtung zurückgeführt, die sich auf den Erwerb und Handel von Anteilen an royalty-generierenden geistigen Eigentumsrechten konzentriert. Das Unternehmen hat Übernahmeziele identifiziert, die zwischen 36 und 250 Millionen Dollar in royalty-generierenden IP-Vermögenswerten für 2025 bewertet werden, einschließlich Investitionen in die Listerine Mouthwash Antiseptic-Royalty und die Veröffentlichungsrechte von Musikkatalogen.
- Strategic pivot to more predictable royalty-generating IP assets
- Identified acquisition targets worth $36-250M for 2025
- Secured new revenue streams through Listerine royalties and music catalogs
- Revenue declined 87.7% to $128.9M from $1.05B
- Net loss of $54.4M vs net income of $46.0M in 2023
- Total assets decreased 68% to $19.9M
- Liabilities increased 86.6% to $23.7M
- Negative shareholders' equity of $(3.8M)
Naples, FL, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, a diversified holding company and the fifth public performance rights organization (PRO) established in the United States, today announced its financial results for the fiscal year ended December 31, 2024. The Company has also filed its annual report on Form 1-K with the U.S. Securities and Exchange Commission (SEC), which includes the audited financial statements and a comparative analysis of its 2024 and 2023 financial performance.
Key Financial Highlights for Fiscal Year 2024:
- Revenue:
$128.9 million , compared to$1.05 billion in 2023. - Net Loss:
$(54.4) million , compared to a net income of$46.0 million in 2023. - Total Assets:
$19.9 million as of December 31, 2024, compared to$62.3 million in 2023. - Total Liabilities:
$23.7 million as of December 31, 2024, compared to$12.7 million in 2023. - Shareholders' Equity:
$(3.8) million as of December 31, 2024, compared to$49.6 million in 2023.
The decline in revenue was primarily due to a shift in the Company’s strategic focus, which involved the reassessment and reduction of certain accounts receivable and changes in its business model to focus on acquiring and trading royalty-generating intellectual property (IP) stakes rather than relying on traditional public performance rights operations.
Strategic Initiatives and 2025 Outlook
As previously announced, Music Licensing, Inc. is undergoing a significant transformation, focusing on the acquisition and monetization of royalty-generating intellectual property. This pivot is expected to provide more predictable, recurring revenue streams and enhance shareholder value over the long term. The Company has identified acquisition targets valued between
In line with this transformation, Music Licensing, Inc. has made key investments in revenue-generating assets, including:
- Acquiring a portion of the royalty interest in Listerine “Mouthwash” Antiseptic
- Securing publishing royalty interests in high-value music catalogs
Management Commentary
“Our 2024 results reflect a transitional year as we reposition Music Licensing, Inc. for long-term success,” said Jake P. Noch, CEO of Music Licensing, Inc. “While the financials show a reduction in reported revenue and earnings, these changes align with our strategic shift to focus on acquiring high-quality, royalty-generating intellectual property. We are confident that these moves will drive sustainable growth and enhance shareholder value in the coming years.”
Regulatory Filings
The Company’s full audited financial results, along with the comparative analysis between 2024 and 2023, are available in the Form 1-K filed with the SEC. Investors and stakeholders can access the filing on the SEC’s website or the Company’s official website.
About Music Licensing, Inc. (OTC:SONG) (ProMusicRights.com)
Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is a diversified holding company and the fifth public performance rights organization (PRO) established in the United States. It is recognized under the federal registry of the United States government. The company licenses music to some of the most prominent platforms and businesses, including TikTok, iHeartMedia, Triller, Napster, 7Digital, Vevo, and many others.
Pro Music Rights holds an estimated
Additionally, Music Licensing, Inc. (OTC: SONG) holds royalty interests in Listerine “Mouthwash” Antiseptic and a vast portfolio of musical works by globally renowned artists, including The Weeknd, Justin Bieber, Kanye West, Elton John, Mike Posner, blackbear, Lil Nas X, Lil Yachty, DaBaby, Stunna 4 Vegas, Miley Cyrus, Lil Wayne, XXXTentacion, BlueFace, The Game, Jeremih, Ty Dolla $ign, Eric Bellinger, Ne-Yo, MoneyBagg Yo, Halsey, Desiigner, DaniLeigh, Rihanna, and many others.
Forward-Looking Statements:
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 Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & 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., Music Licensing, Inc., or any other person.
Non-Legal Advice Disclosure:
This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.
Non-Investment Advice Disclosure:
This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication
Contact: investors@ProMusicRights.com
SOURCE: Music Licensing, Inc.
FAQ
What caused SONG's revenue to drop from $1.05 billion to $128.9 million in 2024?
How much did SONG's shareholders' equity decrease in 2024?
What are SONG's acquisition targets for 2025?
What recent investments has SONG made in royalty-generating assets?
How much net loss did SONG report in 2024?
