Company: DSNY
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001062993-25-000745
Chunk: 2

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 2
Chunk 2
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, WKN 935 410.Our corporate website is located at http://www.dsny.com.OUR PRODUCTS AND SERVICESDestiny develops and markets software as a service (SaaS) solutions that solve critical digital distribution and promotion problems for businesses in the music industry. Play MPE®Currently, the Company's core business is the Play MPE® online platform.  Play MPE® distributes promotional content (broadcast quality audio, video, images, promotional information, metadata and other digital content) from record labels and artists to broadcasting professionals, music curators and music reviewers to discover, download, broadcast and review the content.  Curators include radio programmers, digital streaming broadcasters, media reviewers, industry VIP's, DJ's, film and TV personnel, sports stadiums, retailers etc.  In providing the distribution, Play MPE® provides several capabilities developed and designed to address the unique needs of both music promoters and broadcasters. Play MPE® was first to market, and is the largest provider of this service and provides the most feature rich platform in the world. Record labels and artists are Play MPE®'s customers.  When adding music to the Play MPE® system, clients are targeting specific industry recipients who review and broadcast their music.  Play MPE®'s primary value proposition in this marketing effort is a direct increase to record label and artist revenue through on-air broadcast royalties, streaming royalties and synchronization revenue (revenue collected when a song is placed within video advertisements, television, or film), and indirect increases in revenue through growing song and artists' popularity. Also, Play MPE® provides numerous capabilities that dramatically reduce record label costs while providing functionality necessary for certain strategic marketing plans. The platform also provides administrative controls to enhance security for record label content. In doing so, Play MPE® satisfies a broad range of stakeholders representing diverse interests at record labels.  Music is protected by Play MPE®'s patented proprietary watermarking system which provides watermarks unique to each recipient.Described more fully below, features within Play MPE® are grouped into four main categories: local distribution software, global distribution architecture, targeted recipient list curation and recipient players. Customers range from small independent artists to the world's largest record labels (the "Major Record Labels").  The Major Record Labels are  Universal Music Group ("Universal"), Warner Music Group ("Warner") and Sony Music Entertainment ("Sony").  These record labels directly own numerous sub-labels that include; Capitol Music Group, Def Jam Recordings, Inters