Business
One Media renews its distribution deal
One Media renews its distribution deal.
About this update from One Media Ip Group Plc
[{"type":"text","content":"\n\n1 September 2023\n \nOne Media iP Group Plc\n(\"One Media\", the \"Group\" or the \"Company\")\n \n One Media renews its distribution deal with a US$1 million advance\n \nOne Media iP (AIM: OMIP), the digital media content provider which specialises in the active monetisation of music and video intellectual property rights together with copyright protection technology, has renewed its partnership with its music distribution company (the \"Distributor\").\n \nThe new agreement includes a US$1 million recoupable advance (the \"Advance\") to One Media and will be drawn down by the Company immediately. The Advance will be used to enhance catalogue enrichment.\n \nThe Advance is recoupable by the Distributor against future sales by the Company. In the event that the requisite income is not met, the Distributor has the right, at its sole option, to accelerate recoupment of the outstanding amount.\n \nThe Distributor aggregates One Media's content to over 202 territories globally, including to the major Digital Service Providers (DSP) such as Spotify, Apple Music and Amazon Music, Tidal and Deezer and is responsible for collecting monies in a variety of currencies globally for the Company. They perform a crucial role in the monetisation of the rights in One Media's portfolio.\n\nMichael Infante, CEO of One Media said: \"Having worked with The Orchard since 2006, we have an excellent understanding of its market leading distribution service. Ensuring that our music is widely accessible to fans on digital platforms is critical to growing streaming numbers, which translate into revenues for One Media.\"\n \n \nENDS\nThis 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.\n \nFor further information, please contact:\n \n\n\n\nOne Media IP Group Plc \n\n\n \n\n\n\n\nMichael Infante\n\n\nChief Executive\nTel: +44 (0)175 378 5500\n \n\n\n\n\nClaire Blunt\n\n\nChairman\nTel: +44 (0)175 378 5501\n \n\n\n\n\n \n\n\n \n\n\n\n\nCairn Financial Advisers LLP\n\n\nNominated Adviser\n\...