Destiny Media Tech Inc (DSNY)

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DSNY Announces Q1 FY 2024 Results And Conference Call

Destiny Media Technologies Inc.
Announces Fiscal 2024 First Quarter Results

Vancouver, BC – January 16, 2024 – Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), 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 2024 first quarter ended November 30, 2023.

"We are pleased to observe that strategic investments in Play MPE® are beginning to yield palpable results," said Fred Vandenberg, President and CEO. "Our ongoing commitment to invest in the platform and marketing functions is aimed at further accelerating revenue growth."

Financial Highlights

Highlights for Q1 2024 include (all figures are in USD dollars, and comparisons are to Q1 2023):

Play MPE® sets a new benchmark with its highest quarterly revenue to date
Currency adjusted revenue grew by 10.6% (13.1% unadjusted)
Independent record label revenue up 19.5% globally
Adjusted EBITDA $0.3 million
During the first quarter of the fiscal 2024, under a normal course issuer bid, the Company repurchased 172,000 shares for a total cost of $0.2 million.

Fiscal 2024 First Quarter Earnings Webinar

Destiny Media Technologies will hold a live webinar on Tuesday, January 16, 2024 at 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time) to discuss financial results for its fiscal 2024 first quarter ended November 30, 2023. The live webinar will include comments from President and CEO, Fred Vandenberg, and Director of Business Development, Allan Benedict.

Date: Tuesday, January 16, 2024
Time: 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time)

Attendees are encouraged to register prior to the scheduled time at the following:
https://investors.dsny.com/investors/financials/ or by clicking on the Webinar Registration Form.

Attendees viewing the webinar can voluntarily submit 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.

For those without internet access, the webinar can be accessed via the following dial in details:
Direct dial in US: [phone] or [phone] or More International numbers
Webinar ID: 883 9889 5640

Attendees participating via dial in will not have access to 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/

About Destiny Media Technologies Inc.

Destiny Media Technologies (“Destiny”) provides software as service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE® (www.plaympe.com), provides promotional music marketing to engaged networks of decision makers in radio, film, TV, and beyond. More information can be found at www.dsny.com.

Forward-Looking Statements

This release contains forward-looking statements that reflect current views with respect to future events and operating performance. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Destiny Media Technologies is not obligated to update these statements in the future. For more information on the Company’s risks and uncertainties relating to those forward-looking statements, please refer to the Risk Factors section in our Annual Form 10-K for the fiscal year ended August 31, 2023, which is available on www.sedar.com or www.sec.gov.

Contact:
Fred Vandenberg
CEO, Destiny Media Technologies, Inc.
604 609 7736 x236

Our mailing address is:
Destiny Media Technologies
1575 W Georgia Street
V6G 2V3