Record Revs For Play MPE
April 21, 2008 at 6:42 AM (PT)
DESTINY MEDIA has reported record revenues for Q2 which covers the period DECEMBER 2007 - FEBRUARY 2008. Despite the seasonal slowdown in sends when labels shut down for the holidays, MPE revenues still exceeded the previous high set the prior quarter. CLIPSTREAM revenues declined by 15%, while MPE revenues grew by 8%. The loss from operations declined 3%.
"While still modest, revenue exceeded management's projections on the strength of new contracts and increased usage by existing customers," said CFO FRED VANDENBERG. "We look forward to transitioning the rest of the industry from trials to paid agreements and expanding our usage globally. Tests are underway in EUROPE, ASIA, LATIN AMERICA and AUSTRALIA/NEW ZEALAND. Approximately 90% of MPE revenue in the quarter was from the US, while the remainder is from CANADIAN usage."