Destiny Enjoys 17% Increase In Revenue
January 14, 2011 at 4:43 PM (PT)
DESTINY MEDIA TECHNOLOGIES announced record-high results for the quarter and period ending NOVEMBER 30th, 2010. Revenues of $1,056,638 reflect an increase of 17% over the previous quarter and 1% over the same quarter in the prior year. International revenues grew 23% over the prior year, expressed in USD, despite an 8% decline in the Euro. NORTH AMERICAN revenues declined 7% reflecting lower paid transaction volumes by two of the four major labels.
"In 2011 we expect to capitalize on the investments we made in 2010 which include the integration of our patent pending watermarking technology into the industry's anti piracy web crawler and the ongoing development of the ability to deliver music directly into RCS's global network of radio scheduling systems, first announced in December 2009," CFO FRED VANDENBERG said. "We have observed continual growth in PLAY MPE® revenue over the past four years and believe we can continue this trend in the immediate future."