Destiny Media Technologies Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended May 31, 2022
July 12, 2022 at 07:13 am EDT
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Destiny Media Technologies Inc. reported earnings results for the third quarter and nine months ended May 31, 2022. For the third quarter, the company reported net loss was USD 0.003242 million compared to net income of USD 0.069594 million a year ago.
For the nine months, net loss was USD 0.040251 million compared to net income of USD 0.29083 million a year ago.
Destiny Media Technologies, Inc. develops technologies that enables for the distribution over the Internet of digital media files in either a streaming or digital download format. The Company is engaged in developing and marketing software as a service solution that solves critical digital distribution and promotion problems for businesses in the music industry. Its core business is the Play MPE online platform. Play MPE distributes promotional content, including broadcast quality audio, video, images, promotional information and other digital content from music labels and artists to broadcasting professionals, music curators and music reviewers to discover, download, broadcast and review the content. Play MPE provides several capabilities developed and designed to address the needs of music promoters. Its Play MPE's Caster software includes local distribution functions that provide capabilities for a client to create and schedule release announcements and select its targeted audience.