The following is a summary of the Destiny Media Technologies Inc. (DSNY) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Destiny Media Technologies Inc. reported an 8.2% revenue growth for Q3 and 10.3% for the first three quarters of 2024 compared to the same periods prior.

• The company achieved a slight positive net income and a positive EBITDA, which would remain positive even without capitalizing software development costs.

Business Progress:

• The company is focusing on organic growth by enhancing the Play MPE platform to increase user engagement and market share. Notable recent developments include the launch of MTR (Music Tracking Radar), designed to track music plays and provide analytics to users.

• Several product updates and a platform marketing rebranding, including the launch of a new website and tracking features, are part of efforts to stimulate organic growth.

• Destiny Media highlighted an initial focus on capturing a significant portion of the approximately 66,000 songs tracked monthly in the U.S. market with its new MTR service.

Opportunities:

• The company sees opportunities for further growth by leveraging its MTR service to track music usage and by expanding in the music tracking market, estimated at approximately 420,000 songs per year in the U.S.

• Targeting both single track artists and large enterprise customers with its scalable tracking solution.

Risks:

• The gradual roll-out and market penetration of the new MTR service, which includes uncertainties in customer adoption and the full development of enterprise-level functionalities.

More details: DESTINY MEDIA TECHNOLOGIES INC IR

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