TIDMOMIP

RNS Number : 9852N

One Media iP Group PLC

05 October 2021

5 October 2021

One Media iP Group Plc

("One Media" or the "Company")

Acquisition of Mike Bennett Productions catalogue income royalties

One Media iP Group Plc (AIM: OMIP), the digital music rights acquirer, publisher and distributor, is pleased to announce that it has acquired for a modest consideration the percentage of the licensor's royalty share of the income in the Mike Bennett Productions catalogue of rights, which contains the income derived from over 6,000 recordings supplied by Mike Bennett and his respective partners.

In the 'third of a kind' buy-out of royalties deal, following the 5658 Ltd (RNS 18th August 2021) and 21 Vision (RNS 10th February 2021) this year, whereby the Company has acquired 'upstream' royalties to long term content providers, who under the Harmony IP initiative have released income that would have been earned over the life of copyright.

Mike Bennett Productions has been a long-term licensor to One Media and its income has grown in line with the music industry's predicted growth. The deal sees the percentage amount that One Media was paying to Mike Bennett in royalty fees being now retained by the One Media group. Whilst not adding to turnover, the retention of royalties payable, will flow to the bottom line in cost savings.

The Harmony IP initiative has a policy of buying out percentages of income streams whether they be Artist, Label or Publishing derived. This income stream has been robust and continues to grow and has been acquired well within the Directors' published 'multiple' buying criteria.

The recordings features many 'backing tracks' and 'karaoke songs' together with some live albums or re-recordings performed by the Rubettes, the Stranglers, Wee Papa Girl Rappers and Wishbone Ash.

Harmony IP allows music rights holders advanced access to the future earnings of their intellectual property by purchasing a portion of their rights upfront. www.harmonyip.com/

The acquisition is in line with management's expectations and the Company's business plan.

Michael Infante, CEO of One Media iP said: "Mike Bennett (an industry musicologist and producer) has had a long association with One Media and has produced many of the company's audio/visual books that featured Rik Mayal, Bobby Davro and Anita Harris. The latest recordings for One Media produced by Mike was his work with Neville Staples of the Specials performing the John Lennon hit 'Imagine' in a Ska style. His talents extended to creating the reimagined rewriting of Edgar Allen Poe in 'PoZest' (a stage show featuring Dr & the Medics/Clive Jackson) distributed by One Media. Mike's work on Glamnesia (an A to Z on Glam Rock of the 70's) is set to become a definitive audio encyclopedia/documentary on the changing styles of music across that decade."

The person who arranged the release of this information is Michael Infante, Chief Executive Officer of the Company.

-Ends-

 
 One Media iP Group Plc 
  Michael Infante - CEO 
  Alice Dyson - COO                 +44 (0)175 378 5500 
  Claire Blunt - Chairman           +44 (0)175 378 5501 
 Cairn Financial Advisers LLP 
  (Nominated Adviser) 
  Liam Murray 
  Jo Turner 
  Ludovico Lazzaretti               +44 (0)20 7213 0880 
 Cenkos Securities plc (Broker) 
  Giles Balleny 
  Max Gould 
  Michael Johnson (Sales)           +44 (0)20 7397 8900 
 PPR Publicity                       +44 (0)7930 304301

About One Media iP Group Plc

One Media is a digital music rights acquirer, publisher and distributor. The Group specialises in purchasing and monetising intellectual property rights with proven, repeat income streams. One Media adds value to its content by maximising its availability in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify.

One Media's music is also widely used for synchronisation in film and TV whilst its video content is primarily viewed on YouTube where One Media operates over 20 YouTube channels as a certified partner. Additionally its www.tcat.media copyright infringement and digital music audit tool software TCAT, is used daily with major record labels and the world leading digital international distributor. Men & Motors its branded car channel is now available via YouTube www.youtube.com/channel/UCNLiybn_9jgQaV0NZlSRwCg

One Media is listed on the London Stock Exchange on the AIM index, under the symbol 'OMIP'.

   For further information, please visit www.omip.co.uk   and www.harmonyip.com/

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October 05, 2021 02:00 ET (06:00 GMT)

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