One Media iP Group PLC CEO Michael Infante takes Proactive's Stephen Gunnion through the company's 2023 financial performance, describing it as robust and in line with expectations despite a challenging global context.
Infante highlighted the resilience and profitability of the business, which has maintained a focus on recurring income from music rights. The company continues to pay dividends and has successfully navigated challenges that have impacted larger firms.
Infante also detailed advancements in its technical copyright analysis tool (TCAT) subsidiary, developed to detect music piracy across major platforms like Spotify and Apple Music. The software, leveraging AI, aids in combating the increasingly complex issue of music piracy.
Further, Infante introduced a new desktop application called TCAT Protect, designed to help artists and labels ensure their music tracks on streaming platforms are correctly reported and compensated. This tool is set for launch by the end of May and represents a significant step forward in music rights management.
Operational highlights from the year include the acquisition of the licensor's income share of the Entertain Me catalog and the renewal of their distribution deal with The Orchard. Infante also noted the industry's structural trends, mentioning the resurgence of vinyl and its impact on their business strategy.
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