One Media Ip Share Discussion Threads

[yump] 13/5/2020 11:45

Thanks for that. I guess all publicity is good publicity. I won't repeat my views of PI, I'm sure everyone is bored of them.

Fortunately also appearing in Growth Company.

Perhaps IC will pick up on them at some point - result of those articles debateable !

[1yellowjersey] 13/5/2020 11:28

Proactive Investors interview - One Media IP declares interim dividend and targets 'steady recurring revenue growth' -

[1yellowjersey] 13/5/2020 09:28

Proactive Investors interview - One Media IP declares interim dividend and targets 'steady recurring revenue growth' -

[yump] 07/5/2020 17:25

While there's temporary excitement about stocks that look directly related to covid, there are quite a few that are and will make steady progress regardless and it looks like OMIP will be one of them.

If they can consistently deliver the very high level of recurring revenue then that quality of earnings should eventually give them a high rating.

I've been pretty down on them after the diluting placing, but it appears they've stabilised now and have got focussed on a clear strategy.

I'll be interested to hear more about the way in which they're expanding exposure for the rights they've acquired. That seems key to benefitting from the difference between the amount they've paid for the rights and the amount they earn from them.

imo in the past, there's been a lot of information about the digital/streaming/music/video market, but less about the value that OMIP can expect to add.

Either way, the market cap is less than the amount they've spent on rights.

[cheshire man] 06/5/2020 11:50

One Media iP
@OneMediaiP
·
4m
Great piece in Growth Company Investor following the publication of our FY19 results in March, with journalist, David Thornton, noting the Company’s ambitions to scale up over the next 2 years. Read here: #OMIP
One Media IP seeks further catalogue acquisitions
Growth Company Investor examines the prospects for digital music royalties platform One Media IP
growthcompany.co.uk

[cheshire man] 06/5/2020 11:47

One Media iP
@OneMediaiP
·
4m
Great piece in Growth Company Investor following the publication of our FY19 results in March, with journalist, David Thornton, noting the Company’s ambitions to scale up over the next 2 years. Read here: #OMIP
One Media IP seeks further catalogue acquisitions
Growth Company Investor examines the prospects for digital music royalties platform One Media IP
growthcompany.co.uk

[yump] 06/5/2020 10:25

I've done a new thread here, which I'll update with some more info. soon:

[yump] 06/5/2020 10:23

I will add some financials etc. to the header soon.

Anyone new, I'd urge you to read the previous thread - link in the header.

[yump] 06/5/2020 10:00

Anyone think its worth a new thread ? Can do one a bit later. I checked with GHF and he's fine with it. Seems a good moment to do one ?

[shanklin] 06/5/2020 09:15

Yep, only a month ago that any company announcing a dividend was Public Enemy No 1. So a very positive step to introduce the first dividend for several years.

[cheshire man] 06/5/2020 08:56

Positive TU and confident enough to reintroduce a divi when they are like hens teeth these days :-)

[harrogate] 06/5/2020 08:41

Very decent update and a return to the dividend list. Good to see that they are speeding up the reporting. Talk of new things happening and a general sense that they have a plan and shareholders are at the front of their minds. Would be nice to see the shares held by Grade and Dunleavy placed with a decent institutionAll in all happy with what us now a large holding

[harrogate] 02/5/2020 07:52

I sent you a message

[yump] 01/5/2020 16:43

Actually, a modest 20% organic rise from £3.5mln gets to revenue of £4.2mln. If profits rise again by 30% (reflecting the gearing) the rating would be 14 on the basic eps and 17 on the diluted eps.

Seems cheap on that basis and quite a bit of potential upside.

[yump] 01/5/2020 12:20

You can pm me on here. Tend not to put out email !

I was expecting about 500K total a year from the £5.4mln spent, which is around the quoted multiple.

[harrogate] 01/5/2020 12:14

Do you have email

[yump] 01/5/2020 11:43

Does above look sensible to you ? Its so far off the forecast !

I think I'll have to contact them about that £515k.

Also the reported 23% organic growth of previous revenue (£2.7mln) plus £515K comes to more than last years reported £3.5mln revenue !

Something is off here. I wish they were as forthcoming about the financials as they are wordy about the market.

[harrogate] 01/5/2020 11:30

The £515k is before cost of sales of courseI can only tell you what is in the note from the broker which is a detailed full note. There is not £2m from these deals. But if you feel you are right I would fill your boots as there will be a massive upgrade !!!

[yump] 01/5/2020 11:26

The £2mln is without cost of sales - just pure revenue, based on the £515K earned from the new rights last year, I reckon there's another 1.5mln in a full year.

Unless the 515K contains some one-off lumps of revenue.

They did £3.5mln last year, so based on a whole year of rights, revenue has got to be way more than that £3.8mln forecast. That's got to be way out.


If you're wondering how I got to the £2mln figure... I took $260k (May) as 1 unit of rights.
On that basis there are 26 units of rights.

Over a year 26 x 12 units of revenue = 312
Year just gone was 81 units of revenue (multiplying units x months of earning for each rights).

312/81 x £515k = £2mln annual revenue.

I can only conclude that the £515K is flattered by something.

[harrogate] 01/5/2020 09:38

Cenkos have £3.8m in for 2020 with EBITDA of £1.3m. I think that is conservative and am sure revenue will be £4m +. They state that the catalogue deals were done on a blended 8.7 x net publisher share so you are way off with your £2m although the whole point of OMIP is that using their tech they squeeze more out and may have gone this well on some of these

[yump] 30/4/2020 19:54

Been doing a few numbers...
New music rights contributed £515,530 in the year.
That appears to be from the following rights acquisitions:

$750k in Feb - 9 month contribution
$850k in April - 6 months
$260k in May - 5 months
$725k in July - 3 months
$4.15mln in Sept - 1 month

That's a spend of $6.8mln

If you assume they all generate the same % return on their capital spend (ok they won't, but nothing else to work on) and annualise that £515,530 as if each acquisition ran for a year you get:

£2mln annualised

So for a full year, this current year could be £5mln revenue total.

Cost of sales £2.5mln (has been around 50%)
Admin £1mln
Finance costs £200k (as they have 1.6mln in loan notes at 7%, the rest of the money came from share placing, so shouldn't go up much.
Share payments £150k

Its a bit finger in the air, but that's all getting towards around £1mln in pre-tax, which would be double !

I assume that £515,530 might contain a lump or two, but even allowing for that, if it actually came to pass that would put the shares on a p/e of about 10, with growth at 100%.
Take some more lumps of 100K off for various things and you still get a bumper increase in profits.

Someone tell me this is rubbish before I get over-excited !

[yump] 30/4/2020 19:36

Actually music streaming appears to have dropped 10% in March, while video is up about 15% ! OMIP has mainly music and a bit of video as far as I know.

[yump] 30/4/2020 08:32

If as seems likely there is going to be a higher proportion of people working at home then music streaming revenue is going to be reliable and probably accelerating.

Will have to have a proper look at the figures that just came out. Presume this year some costs will disappear.

[yump] 29/4/2020 20:40

Surprised this isn't getting more interest in the current situation, given its all about streaming - perhaps well under the radar.

Its making profits - that's probably the problem ;-)