One Media iP revenues up 28%

One Media iP revenues up 28%

One Media iP has announced a 28% year-on-year increase in revenues for the six-month period to April 30, 2020.

Revenue hit £2m at the digital music rights acquirer, publisher and distributor.

Operating profit increased by 98% year-on-year to £563,257. EBITDA was up 93% to £757,678.

Michael Infante (pictured), CEO of One Media iP, said: “As the world adjusts to life under Covid-19, we continue to observe changing habits in both music consumption and genres being streamed as a result of the dramatic changes to people’s daily routines. Coinciding with this, we have also seen an uplift in streaming of children’s, classical and ambient music, all of which favour One Media’s diverse catalogue.

“I am very pleased with our staff’s fortitude in decamping from our offices at Pinewood Studios and working efficiently on a remote basis, which is a tribute to both technology and team effort. This ‘new normal’ lends itself to our continuing operations and we have successfully proven our robust business model in the first six months of 2020.”

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