Destiny Media Announces Strong 3rd Quarter
July 16, 2007 at 12:07 PM (PT)
DESTINY MEDIA TECHNOLOGIES announced financial results for the third quarter of fiscal 2007, highlighted by sharply higher system access fees for its proprietary PLAY MPE digital media distribution system and the launch of CLIPSTREAM 3, the company's newest- generation solution for playing user-generated audio and video over the Internet.
For the three months ended MAY 31, 2007, access fees from DESTINY's proprietary PLAY MPE secure digital media distribution system increased to $165,735, which is 250% of $65,860 reported for the second quarter of fiscal 2007, reflecting the transition from the pilot phase to full transaction-based pricing and the expansion of the system into CANADA. Total PLAY MPE transactions increased 229% to 15,164,920 in Q3 2007 from 4,613,725 in Q3 2006.