One Media Ip Share Discussion Threads

[capt bligh] 07/11/2014 12:12

New senior appointment at OMIP

[briangeeee] 05/11/2014 11:53

Rightster and Audioboom are very interesting, and highly relevant comparators. Both exist in roughly the same sector (online audio), but importantly they focus more on the distribution end, rather than acquired content ownership.

While "content is king" is important, and means to a large extent that you're master of your own destiny, the advantage of a distribution approach (including very low cost content acquisition) is that it isn't capital intensive. Investors therefore look through current losses, via strong operational gearing, to the sunny uplands beyond. What is increasingly apparent with the OMIP business is its sound and consistent nature, but its growth is heavily capital constrained.

I suppose debt is one partial answer to increase operational gearing in terms of ROE, but certainly not perfect. It will be interesting in future to hear the company's thoughts on how it can address this scale-up issue in a capital efficient manner. Perhaps some form joint ownership, or service model, where the acquisition cost is deferred and the original content owner paid out of future increased revenue. I guess this is a competitive space, and I certainly don't know what's best for OMIP.

[m1shake] 05/11/2014 10:57

What you say is very sensible but explain the logic therefor in these two companies (above) share price and capitalisation - its sizzle and sausage! I know where i would rather be -

[briangeeee] 05/11/2014 10:29

If the share price at the time the Note was written had been 25p, the target would have been 35p or similar - it's just meaningless.

For me, what matters in the upcoming results is:

1. Diluted EPS. The base metric.

2. Variation between earnings and cashflow. How much of the earnings relates to nebulous capitalised acquisition costs, and does capex significantly exceed amortisation (building a large intangible under IFRS).

3. Capital efficiency of the business. To what extent is availability of cash constraining growth.

4. Future dividend policy. There is always a trade-off between returning cash to shareholders and using it for growth in a capital intensive business. However, the current static dividend feels too low - a statement of future policy would be good, and perhaps a better balance.

In terms of acquisitions, I don't feel the current share price is at a level I'd feel comfortable with new equity being issued. Of course the company should consider acquisitions of new material within their cash and (reasonably priced) debt limits.

[harrogate] 05/11/2014 08:25

Hi. Thanks for posting the CS note and updating the thread. It is hard to see how CS get a price target of 25p at the moment which would be 26 x 2015 EPS. I think they have fallen back a bit too much along with a few other AIM small caps but feel we will need a decent sized earnings accretive deal to get anywhere near 25p in the short or medium term. A hold for me.

[glasshalfull] 04/11/2014 21:45

I've updated the header to reflect the Charles Stanley forecasts. Believe 0.75p EPS pencilled in for the year just ended with 0.95p this year. Look decent value at the current price.

Nice to read the RNS confirming that OMIP continuing its progressive dividend policy.

With its enviable track record they were the ideal company to attend Mello 2014 in Derby later this week which is choc full of similar well run businesses that engage with shareholders and deliver excellent earnings records.



The speakers include a who's who of the UK investment landscape with the likes of Katie Potts, Giles Hargreaves, Lord John Lee & Gervais Williams delivering keynote talks throughout the event alongside 60 companies exhibiting & with many also presenting.



I'll be in attendance at Derby for the full 3-days and delighted to meet up with any PI's that frequent these boards.

Regards,
GHF

[the shuffle man] 04/11/2014 09:31

There doesn't seem to be any interest in the very small cap stocks. OMIP looks cheap but what is going to get this re-rated. Will have to wait for results I suppose or any contract news. This share can go days without any volume.

Good company, growing, debt free and pays a dividend on a low rating.

One to tuck away.

[yump] 04/11/2014 08:58

That's a p/e of just over 10 on full year isn't it ? Seems harsh.

[m1shake] 03/11/2014 18:16

More interesting I would say

Charles Stanley Securities Breakfast Bite
One Media iP (OMiP.L)*
Price: 11.5p / PT: 25p (n/c)
Buy (n/c)

Our View: One Media iP has announced that it intends to pay a dividend of 0.071p per share for the period ended 31 October 2014. This represents is maintained payout and “keeps OMIP as a dividend stock”. The full year yield is 1.3% at this price. The dividend will be paid on 21 November to shareholders on the register on 14 November. The financial year ends 31 October and the group is due to report FY results in February 2015. In July the group acquired ‘Point Classics’, a catalogue of 4,000 classical music recordings. We are forecasting FY 2014 revenues of £3.1m and a PBT normalised of £0.75m, an increase of 43%. We retain our Buy recommendation and a sector-based target price of 25p.
The shares have slipped back from 19p reached in February to 11.5p currently. We anticipate the confirmation of the dividend payout to underpin the price and stimulate a rally.
Peter Ashworth 020 7149 6144 [e-mail]
*Corporate client of Charles Stanley Securities

[briangeeee] 13/10/2014 20:08

Hopefully a good proportion of the $1bn has gone to OMIP!

[capt bligh] 13/10/2014 11:06

YouTube says it has paid out $1bn through Content ID system
YouTube has announced a new milestone: $1bn paid out to copyright holders via its Content ID feature, which helps them identify user-generated videos using their content and make money from ads around them. One Media is pleased to say that its YT channels are progressing well with viewership on the increase. Check out our channels on the front page of our web site

[m1shake] 10/10/2014 20:02

hxxp://www.londonipsummit.com/lps.asp
Share price moves down - is the great forgotten and unloved?

[yump] 03/10/2014 12:50

Very curious about that. Archive publishing of some sort ?

[harrogate] 03/10/2014 12:25

Share price moves up??

[cascudi] 03/7/2014 09:24

a good company that is still not
under the radar. good news today imo

[capt bligh] 03/7/2014 08:32

Good news today.... Turning into a really solid little e. business, run on a shoe string, but with value increasing year by year...well done Michael Infante

[microscope] 03/7/2014 08:32

Excatly the sort of deal we were hoping for i think, harrogate. Excellent news and evidence imho of why the Orchard were 'happy to oblige!' :)

[harrogate] 03/7/2014 07:50

I like the sound of this ..right in their sweet spot ... old classics and music not video ( which I continue to fail to understand the economics of) and a decent size. Earnings enhancing which is great ..not that means much using cash which will be earning 1% in their bank account ! Great stuff. H2 off to a good start

[cascudi] 28/6/2014 16:47

i don`t understand why advfn fundamental is showing a pe of 40.
looking the last 6 months interim the eps was 0.49p
assuming that the 12 months eps will be 1p.
the pe should be 17..correct?