One Media iP Group PLC Trading Update and Change of Name of Broker (1175X)

TIDMOMIP

RNS Number : 1175X

One Media iP Group PLC

18 December 2023

18 December 2023

One Media iP Group Plc

("One Media", the "Group" or the "Company")

Trading update and change of name of broker

Core business of digital music rights management delivering positively, in line with expectations

One Media iP (AIM: OMIP), the digital media content provider that specialises in the active monetisation of music and video intellectual property rights together with copyright protection technology, provides the following update for the year ended 31 October 2023.

The Group expects to deliver total revenue of circa GBP5.4 million, reflecting a 5% uplift on the year to 31 October 2023 (FY 2022: GBP5.1 million), while net revenues are expected to increase significantly by approximately 10% to GBP3.6 million (FY 2022: GBP3.3 million). This positive growth is derived from the continued strength of the Group's core business of music exploitation, resulting from the team's deep expertise in proactive music rights management as well as the positive structural tailwinds underpinning the music industry.

EBITDA and cash are to reduce in line with expectations to circa GBP1.4 million (FY 2022: GBP1.8 million) and GBP1.2 million (FY 2022: GBP2.2 million) respectively, as a result of the redirection of cash resource towards the Group's subsidiary, TCAT Ltd ("TCAT"), as per the Company's stated strategy.

Michael Infante, CEO of One Media iP said: "These numbers are very much in line with our expectations, notably the continued growth of our music rights management business and the strategy that we set out during the course of this year to reinvest into the future potential of TCAT, our proprietary anti-piracy software tool. We look forward to presenting our year end results in full in due course."

The Group's full year results for the year ended 31 October 2023 are expected to be announced in March 2024.

Change of Name of Broker

The Company also announces that, following the completion of the all-share merger between Cavendish Securities plc (previously named Cenkos Securities plc) and Cavendish Financial plc (previously named finnCap Group plc), and as a consequence of internal reorganisation within the Cavendish Group, the Company has changed its Broker from Cavendish Securities plc to Cavendish Capital Markets Limited.

ENDS

This announcement contains inside information for the purposes of the UK Market Abuse Regulation. The person who arranged the release of this information is Michael Infante, Chief Executive Officer of the Company.

For further information, please contact:

 
 One Media IP Group Plc 
 Michael Infante                            Chief Executive 
                                             Tel: [phone] 
                                             5500 
 Claire Blunt                               Chairman 
                                             Tel: [phone] 
                                             5501 
 
 Cairn Financial Advisers LLP               Nominated Adviser 
 Liam Murray / Jo Turner / Ludovico         Tel: [phone] 
  Lazzaretti                                 0880 
 
 Cavendish                                  Broker 
 Charlie Coombe /Giles Balleny (Corporate   Tel: [phone] 
  Finance)                                   8900 
  Michael Johnson (Sales) 
 
 Claire Turvey, Fourth Pillar               Financial PR 
                                             Tel: [phone] 
                                             198 
 

About One Media iP Group Plc

One Media is a digital music rights acquirer, publisher and distributor with a catalogue independently valued at GBP34.8 million (as at April 2022). The Group specialises in purchasing and monetising intellectual property rights with proven, repeat income streams. One Media adds value to its content by maximising its availability in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify.

One Media's music is also widely used for synchronisation in film and TV whilst its video content is primarily viewed on YouTube where One Media operates over 20 YouTube channels as a certified partner. Additionally its copyright infringement and digital music audit tool software TCAT is used by major record labels and the world leading digital international distributor. Men & Motors, the Company's branded car channel, is now available via YouTube www.youtube.com/channel/UCNLiybn_9jgQaV0NZlSRwCg

One Media is listed on the AIM Market of the London Stock Exchange under the ticker 'OMIP'.

For further information, please visit www.omip.co.uk and www.harmonyip.com/

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as "believe", "could", "should" "envisage", "estimate", "intend", "may", "plan", "potentially", "expect", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

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END

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December 18, 2023 02:00 ET (07:00 GMT)