Destiny Media Tech Inc (DSNY)

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DSNY Announces Third Quarter Fiscal Year 2021 Results

Destiny Media Technologies Inc. Announces Third Quarter Fiscal Year 2021 Results
Jul. 14, 2021 6:00 AM ET
Destiny Media Technologies Inc. (DSNY)
Newsfile Corp

Vancouver, British Columbia--(Newsfile Corp. - July 14, 2021) - Destiny Media Technologies (DSNY) (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 third quarter ended May 31, 2021.

Highlights for Q3 2021

(all figures are USD, and comparisons are to Q3 2020):

Play MPE® revenue grew by 15.2% (9.7% currency adjusted);
Independent label revenue increased 29.7% (26.8% currency adjusted);
Sends activity up 26.5%;

"Continued independent record label growth has been a significant driver of our overall Play MPE® revenue growth in the current quarter and over the trailing twelve months," said Fred Vandenberg, President and CEO. "In the current quarter, we have added key industry professionals to our business development group in the United States and these additions have had an immediate impact adding key US Major Label distributions in the Play MPE® platform."

The stock repurchase program that commenced in January 2021, resulted in market purchases to May 31, 2021 of 155,685 shares for a total cost of USD $218,682.

Fiscal 2021 Third Quarter Earnings Webinar

Destiny Media Technologies will host a webinar at 5:00 p.m. ET (2:00pm PT) on Wednesday, July 14, 2021, to further discuss its 2021 third quarter results. Investors and interested parties may participate in the webinar by registering at the following:

https://investors.dsny.com/investors/financials/

or directly on the REGISTRATION FORM by clicking here.

Attendees are encouraged to register prior to the scheduled time.

Attendees viewing the webinar can voluntarily submit either verbal and written questions during the live presentation. Attendee cameras will remain off throughout the presentation. Attendees' microphones will remain off unless the attendee voluntarily selects to engage in verbal questions similar to the format available on traditional conference call format.

The webinar format will provide the Company an opportunity to present visual information and provide attendees an opportunity for written questions.

For those without internet access, the webinar can be accessed via the following dial in details:

Direct dial in: [phone] or [phone]

Webinar ID: 848 9340 6221

Attendees participating via dial in will not have access the webinar video stream, and will not have access to question and answer functions.

A recording of the webinar will be available after the event on https://investors.dsny.com/investors/financials/.

Continues with consolidated balance sheets here:
https://seekingalpha.com/pr/18393212-destiny-media-technologies-inc-announces-third-quarter-fiscal-year-2021-results