Destiny Media Tech Inc (DSNY)

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DSNY Announces Second Quarter Fiscal Year 2021 Results

Vancouver, British Columbia--(Newsfile Corp. - April 14, 2021) - Destiny Media Technologies (TSXV: DSY) (OTCQB: DSNY) (the "Company") or ("Destiny"), the makers of Play MPE®, a cloud-based SaaS solution for digital asset management in the music industry, today announced financial results for its fiscal 2021 second quarter ended February 28, 2021.

Highlights for Q2 2021

(all figures are USD, and comparisons are to Q2 2020):

Play MPE® revenue grew by 15.6% (11.2% currency adjusted);
Independent label revenue up 29.7% (29.6% currency adjusted);
Cash reserves as at February 28, 2021 of $3.012M ($0.29/share).
Sends activity up 34.9%;

"Continued independent record label growth has been the driver of our overall Play MPE® revenue increase," said Fred Vandenberg, President and CEO. "This independent growth is propelled by a combination of factors including establishment of new markets, greater global market distributions, developed marketing processes, and improved business development staffing."

The stock repurchase program that commenced in January 2021, resulted in market purchases to April 12, 2021 of 65,085 shares for a total cost of USD $73,617.

Form 10-Q Filed By DSNY here:

https://app.quotemedia.com/data/downloadFiling?type=HTML&webmasterId=501&ref=115788914