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On 31 January 2025, One Media iP Group Plc announced it received a further advance of US$250,000 from its music distribution company, The Orchard. This advance, which was received by the Company, is recoupable by The Orchard against future sales and follows a previous announcement dated 1 September 2023.
| Date | 31 Jan 2025 |
| Time | 07:00:03 |
| Category | Miscellaneous |
| ID | 3567V |
31 January 2025
One Media iP Group Plc
("One Media" or the "Company")
One Media secures US$250,000 advance from distribution partner
One Media iP (AIM: OMIP), the digital music rights acquirer, publisher and distributor which specialises in the active monetisation of music and video intellectual property rights, announces that, further to the announcement of 1 September 2023, The Orchard, its music distribution company (the "Distributor"), has provided a further advance to One Media of US$250,000 (the "Advance"), which has been received by the Company.
The Advance, which was successfully negotiated at a favourable currency exchange rate delivering optimum value for the Company, is recoupable by the Distributor against future sales by the Company. The Advance will be used to expand activities in the normal course of business.
The Distributor aggregates One Media's content to over 240 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. It performs a crucial role in the monetisation of the rights in One Media's portfolio.
Michael Infante, CEO of One Media said: "This advance from The Orchard reflects the strength of our near 20 year strategic partnership and the value that is derived from our collaborative efforts to grow and monetise One Media's diverse portfolio of evergreen music rights. It also contributes to our current priority of rebuilding the Company's cash reserves with our renewed focus on our core business of digital copyrights."
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:
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One Media IP Group Plc |
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Michael Infante JP |
Chief Executive Tel: +44 (0)175 378 5500
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Claire Blunt |
Chairman Tel: +44 (0)175 378 5501
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Cairn Financial Advisers LLP |
Nominated Adviser |
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Liam Murray / Ludovico Lazzaretti
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Tel: +44 (0)20 7213 0880
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Cavendish |
Broker |
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Charlie Coombe / Giles Balleny (Corporate Finance) Michael Johnson Dale Bellis (sales)
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Tel: +44 (0)20 7397 8900 |
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Claire Turvey, Fourth Pillar
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Financial PR Tel: +44 (0)7850 548 198 |
About One Media iP Group plc
One Media iP Group plc is a leading digital music rights acquirer, publisher and distributor. The Group specialises in the acquisition and exploitation of music and video intellectual property rights. Listed on AIM, the Group is committed to driving value through the acquisition and management of high-quality IP assets.
One Media is listed on the AIM Market of the London Stock Exchange under the ticker 'OMIP'.