One Media reports revenue jump as copyright detection tool takes off
One Media today reported a 15 per cent jump in revenue as its new copyright detection technology proves increasingly popular.
The AIM-listed digital media rights group saw its revenue increase to £2.7m in the first half of last year, up from £2.4m for the same period last year.
Some £2.5m of this revenue were driven by royalties earned from their actively managed music and video rights portfolio, which includes the IP rights to songs from artists such as Take That, Culture Club and Don Williams.
The results come as One Media focuses on expanding its Technical Copyright Analysis Tool (TCAT) service, an anti-piracy software that can detect digital copyright infringement.
TCAT trials have already proved worthwhile for the innovative company, resulting in a 147 per cent rise in revenue from £74,000 in 2022 to £182,000 so far this year.
One Media say their TCAT client base is growing and includes “internationally recognised songwriters”.
Michael Infante, CEO, said their TCAT products are “tailored to the digital copyright challenges being experienced by the industry”.
The music and video industry is becoming increasingly concerned about the potential threats AI poses to their intellectual property rights.
Infante said One Media’s aim of “staying ahead of the curve” has allowed them to “differentiate” themselves from competitors
“We are already seeing positive reactions as we seek to transform its potential into shareholder value,” he added.
Despite the positive results, and “optimistic” outlook, shares in the group were down 2.97 per cent at midday.