Vancouver, British Columbia–(Newsfile Corp. – July 14, 2021) – Destiny Media Technologies (TSXV: DSY) (OTCQB: DSNY) (the “Company”) or (“Destiny”), the makers of Play MPE®, a cloud-based SaaS solution for digital asset management in the music industry, today announced financial results for its fiscal 2021 third quarter ended May 31, 2021.

Highlights for Q3 2021

(all figures are USD, and comparisons are to Q3 2020):

  • Play MPE® revenue grew by 15.2% (9.7% currency adjusted);
  • Independent label revenue increased 29.7% (26.8% currency adjusted);
  • Sends activity up 26.5%;

“Continued independent record label growth has been a significant driver of our overall Play MPE® revenue growth in the current quarter and over the trailing twelve months,” said Fred Vandenberg, President and CEO. “In the current quarter, we have added key industry professionals to our business development group in the United States and these additions have had an immediate impact adding key US Major Label distributions in the Play MPE® platform.”

The stock repurchase program that commenced in January 2021, resulted in market purchases to May 31, 2021 of 155,685 shares for a total cost of USD $218,682.

Fiscal 2021 Third Quarter Earnings Webinar

Destiny Media Technologies will host a webinar at 5:00 p.m. ET (2:00pm PT) on Wednesday, July 14, 2021, to further discuss its 2021 third quarter results. Investors and interested parties may participate in the webinar by registering at the following:

https://investors.dsny.com/investors/financials/

or directly on the REGISTRATION FORM by clicking here.

Attendees are encouraged to register prior to the scheduled time.

Attendees viewing the webinar can voluntarily submit either verbal and written questions during the live presentation. Attendee cameras will remain off throughout the presentation. Attendees’ microphones will remain off unless the attendee voluntarily selects to engage in verbal questions similar to the format available on traditional conference call format.

The webinar format will provide the Company an opportunity to present visual information and provide attendees an opportunity for written questions.

For those without internet access, the webinar can be accessed via the following dial in details:

Direct dial in: +1 301 715 8592 or +1 647 374 4685

Webinar ID: 848 9340 6221

Attendees participating via dial in will not have access the webinar video stream, and will not have access to question and answer functions.

A recording of the webinar will be available after the event on https://investors.dsny.com/investors/financials/.

About Destiny Media Technologies Inc.

Destiny provides software as service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE® (www.plaympe.com), provides promotional music marketing to engaged networks of decision makers in radio, film, TV, and beyond. More information can be found at www.dsny.com.

Forward-Looking Statements

This release contains forward-looking statements that reflect current views with respect to future events and operating performance. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Destiny Media Technologies is not obligated to update these statements in the future. For more information on the Company’s risks and uncertainties relating to those forward-looking statements, please refer to the Risk Factors section in our Annual Form 10-K for the fiscal year ended August 31, 2020, which will be available on www.sedar.com or www.sec.gov.

Contact:
Fred Vandenberg
CEO, Destiny Media Technologies, Inc.
604 609 7736 x236